News

ZICOSTEEL board chair Martin Manuhwa says Kuvimba Mining House’s undertaking to revive Ziscosteel is the best deal the former steel-making company has had. Kuvimba, linked to tycoon Kuda Tagwirei, is set to inject about US$1 billion towards the resuscitation of Ziscosteel over a three year period. The former integrated steelworks giant closed shop nearly two […]

RioZim, which had been banking on Chinese financing to build a major coal-fired power plant, says it is now looking for alternative backers as China pulls back on funding such projects overseas. The effort by RioZim, one of Zimbabwe’s biggest mining and energy companies, reflects how China’s recent U-turn on foreign coal financing is forcing […]

A capital shortfall of US$10 billion over the next five years will limit Zimbabwean mines’ ability to build on better commodity prices expected this year, the Chamber of Mines says. Gold and platinum producers will drive Zimbabwe’s mineral earnings to US$5.5 billion this year, up from US$2.7 billion last year, as companies ramp up production […]

Zimbabwe’s mining sector is anticipating to benefit from elevated commodity prices in the international market this year with the Russia-Ukraine conflict playing a more prominent role in driving up prices. Export receipts are expected to hit US$6bn this year as sanctions are expected to restrict Russia minerals to be sold outside its borders thereby creating […]

Zimbabwe’s gold export revenue more than doubled in the month of February to US$134,99m from US$66,18m achieved in the prior comparative period on the back of increased output and firming prices. Gold delivered to the country’s sole buyer and marketer of the yellow metal, Fidelity Printers and Refiners (FPR) soared 92% to 2,26 tonnes from […]

POWER utility, Zesa Holdings Private Limited executive chairperson Sydney Gata says the parastatal is in need of US$2,5 billion to end load shedding as the country grapples with subdued local power generation. This comes as the power utility battles acute challenges in getting its monthly requirement of US$17 million to import electricity from the Reserve […]