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FEATURED
Mining Index Zimbabwe
- May 5, 2022
343 views 18 secs

Alrosa poised to sell diamonds to Gokhran

Russia’s state gem depository could buy diamonds from Alrosa this year, the country’s finance minister reportedly said. The potential move comes amid Western sanctions against Russia and Alrosa that have threatened the company’s ability to sell rough. “We do not rule out the possibility of Gokhran purchasing diamonds produced by Alrosa,” Reuters cited Anton Siluanov […]

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FEATURED
Mining Index Zimbabwe
- May 5, 2022
198 views 2 mins

Rio hopes for bigger spending on growth projects

Diversified miner Rio Tinto is hoping to increase its investment in growth capital to $3-billion a year, by 2023 to 2024, with a focus on energy commodities, including iron-ore. CEO Jakob Stausham told the company’s annual general meeting on Thursday that the company was well placed to grow and meet the increased demand for materials […]

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381 views
FEATURED
Mining Index Zimbabwe
- May 5, 2022
381 views 2 mins

Tharisa plans a US$50m bond listing on VFEX to develop new Zimbabwe mine

Tharisa, the South African company developing a platinum mine in Zimbabwe, plans to sell US$50 million of bonds on the Victoria Falls Stock Exchange to help finance the project. The miner last month announced a US$250 million first phase investment in Karo mine, expected to begin development later this year. “While the financing solution for […]

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FEATURED
Mining Index Zimbabwe
- May 5, 2022
203 views 2 mins

Gold operations anchor Padenga revenue growth

Listed diversified group, Padenga Holdings Limited’s revenue grew 10% to US$78.5m in the reviewed period from US$71.6m achieved in the previous year on the positive performance in the gold mining division. The uptick in revenue comes when the crocodile and the alligator businesses faced reduced demand and changing market dynamics. Padenga recently acquired a controlling […]

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FEATURED
Mining Index Zimbabwe
- May 5, 2022
445 views 7 mins

Time to deal with our resource curse

INVESTIGATIONS correspondent at the Financial Times, Tim Burgis published a book in 2017 titled The looting machine. It is kaleidoscope of the penury of Africa caused by a coalition between an international predatory mafia and African Presidents and their predatory coalitions made up of party loyalists, the army, intelligence services and State institutions that are […]

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141 views
FEATURED
Mining Index Zimbabwe
- May 4, 2022
141 views 5 mins

Zimbabwe discusses deal to use mineral earnings to pay off Trafigura’s old fuel debts

Trafigura Group and Zimbabwe’s government have discussed a deal that would give the commodities trader control over output from some of the nation’s biggest mines as repayment for debts. Under the agreement, Trafigura will be paid US$225.6 million by nickel- and gold-mining subsidiaries of state-run Kuvimba Mining House for fuel bills Zimbabwe owes Trafigura on […]

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273 views
FEATURED
Mining Index Zimbabwe
- May 4, 2022
273 views 4 mins

Shares in Invictus Energy close a whopping 21% up; firm developing Muzarabani gas project

Invictus Energy Limited (ASX:IVZ) unveiled its financial and operational performance report for the quarter ended 31 March 2022. The Company is opening one of the last untested large frontier rift basins in onshore Africa, the Cabora Bassa Basin. Mukuyu Prospect drilling is anticipated to commence in July 2022. Shares of Invictus Energy Limited (ASX:IVZ) traded […]

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513 views
FEATURED
Mining Index Zimbabwe
- May 4, 2022
513 views 4 mins

Blending helping reduce fuel prices: ZERA

ZIMBABWE’s fuel could have been much more expensive had it not been for the reintroduction of blending, Zimbabwe Energy Regulatory Authority (ZERA) has said, notwithstanding that its price is now the highest in Africa. Authorities last week hiked fuel prices to US$1,71 for diesel and US$1,63 for petrol with the increase prompted by the Russia-Ukraine […]

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FEATURED
Mining Index Zimbabwe
- May 4, 2022
293 views 4 mins

Gold mine tussle takes new twist…lawyers demand return of evicted Ran Mine workers

LAWYERS representing scores of workers and their families who were recently evicted from Bindura-based Ran Mine were last week making frantic efforts to secure their return. Ran Mine Private Limited, a gold asset that has been at the centre of a protracted dispute between Zimbabwean investors, lurched into fresh controversy after evicting the former workers […]

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317 views
FEATURED
Mining Index Zimbabwe
- May 4, 2022
317 views 46 secs

Mine invaders threaten prosecutor

A GROUP of people, who recently invaded Dandee 5 mine in Kezi, Matabeleland South, are reportedly threatening Kezi prosecutor Mufaro Ndirayire, who is handling the case. The invaders, believed to be from Harare, overran the mine last month and the mine owner Ndodana Moyo has alleged that the invaders were being backed by a senior […]

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