News

Mine workers in the country are set to receive an over 100% salary increment Following a successful negotiation with authorities through the Associated Mine Workers Union of Zimbabwe and the Chamber of Mines . The new pay structures according to information from the National Employment Council (NEC) Mining is going to see the lowest paid […]

Huayou Cobalt, the company that has bought the Arcadia lithium mine from Prospect Resources, says it has budgeted US$300 million to bring the project to production. The company bought Arcadia for US$422 million in December, in the largest of a series of acquisitions in Zimbabwe by mostly Chinese and UK firms looking to secure supplies […]

Kuvimba Mining House says it plans to list two more units on the Victoria Falls Stock Exchange and is exploring lithium at Sandawana, once an emerald mine. Kuvimba is majority-owned by government and holds assets such as Bindura Nickel Company (BNC) and Freda Rebecca Mine, the country’s biggest gold mine. Kuvimba also controversially holds former […]

Invictus Energy (IVZ) has seen some fresh potential for multiple stacked zones within the Mukuyu prospect. The Mukuyu Prospect, formerly called the ‘Muzarabani Prospect’, is part of the company’s 80 per cent-owned Cabora Bassa project in Zimbabwe. Seismic inversion results and quantitative analysis (QA) studies indicate strong potential for hydrocarbons within the Mukuyu structure. More […]

Lithium developers around the world are rushing to secure supplies of lithium, as demand for electric vehicles drives up prices. Last year, lithium prices rose 400% in China, the largest consumer of the product. This has driven many suppliers to become more aggressive in their search for new lithium deposits. Zimbabwe, which has lithium potential, […]

CHROME miners are crying foul over underpricing of Zimbabwean ore by some Chinese chrome smelting companies. This comes as chrome miners appealed to the government not to widen the export ban to include raw chrome fines. The chrome ore fines were exempted from the previous ban on raw chrome exports. Miners claim that the fundamentals […]

FORMER Zanu PF youth leader Lewis Matutu has been elbowed out of the late business tycoon John Bredenkamp’s gold-rich Thetford Estate in Mazowe, it has been established. This comes after a fierce fight for control between Matutu, through a mining consortium, Yamatsanga Mining, and the late Bredenkamp’s son Gavin. The mining consortium was granted mining […]

ZIMBABWE risks sinking into a deeper power crisis amid reports that the country’s power utility Zesa is on the brink of collapse due to an unsustainable tariff regime. Government has insisted on unsustainable tariffs, largely to avoid a public outcry as the country heads towards the 2023 polls. Currently, Zesa charges the equivalent of US$0,02 […]

GROSS revenues at the Victoria Falls Stock Exchange (VFEX)-listed Caledonia Mining Corporation increased by 37% to US$35,1 million in the first quarter of this year, reflecting a major increase in gold production and prices, the firm said yesterday. In the same period last year, gross revenue stood at US$25,7 million. In its results for the […]