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AUSTRALIA Stock Exchange listed miner, Prospect Lithium Zimbabwe (PLZ) allegedly attempted to evade taxes in a deal clinched to transfer Arcadia lithium fields into its name about four years ago, multiple court actions and internal correspondence showed last week. Mandizha & Company, a law firm representing Fredrick Mubaira, who owns part of claims on which […]

RAN Mines Private Limited, a gold asset that has been at the centre of a protracted dispute between Zimbabwean investors, lurched into fresh controversy last month after winning a High Court case giving it a nod to evict retrenched workers out of its compound. The 123-year old Bindura-based operation closed in 1999. However, it is […]

Zimbabwe’s gold export receipts increased 123% to US$463.1m in the first quarter of this year from US$207.23m in the prior comparative period owing to firming commodity prices on the international market. It came after gold deliveries for the period under review jumped 92% to 7.695 tonnes from 4.016 tonnes in the comparable period. The Reserve […]

OUTPUT from Zimbabwe’s gold mines firmed to 7,6 tonnes during the first quarter, driven by fresh investments into resuscitating idle assets, as big operators deepened shafts. The sector produced four tonnes during the same period in 2021, according to market data. But already, experts are seeing production gaining traction during the coming quarters, with output […]

REPRESENTATIVES of mine workers in the country have launched a fresh bid to have their hard currency salaries increased as the economic situation in the country continues to deteriorate. The Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) is demanding at least US$600 per month for every mine worker in the country, accusing mine owners […]

Prospect Resources has advised the sale of the Prospect group’s 87% interest in the Arcadia Lithium Project to a subsidiary of new energy lithium-ion battery material producer, Zhejiang Huayou Cobalt Co., completed on 20 April 2022. As announced by Prospect on 23 December 2021, the Transaction was for a cash consideration of approximately US$377.8 million. […]

ZIMBABWEAN tax experts this week reactivated the push for government to establish a public exploration firm, as they cast doubts over the credibility of mining data from private multinationals. Giving insights during a workshop, which ran under the theme; ‘Fight Inequality’, which gave journalists an impression of tax dynamics in the resources sector, the experts […]