News

ZIMBABWE’S mining industry is losing 20% of its local currency indexed revenue due to a tough retention regime that compels operators to surrender forex to the central bank, according to the Chamber of Mines of Zimbabwe (CoMZ). Under the contentious surrender requirements, operators are compelled to retain 60% of their export proceeds in foreign currency. […]

GOVERNMENT yesterday said it had chosen Kuvimba Mining House, a company in which it has majority shareholding and is linked to President Emmerson Mnangagwa’s ally, to revive the moribund ZiscoSteel. The government created Kuvimba in 2020, in which the State pension funds and sovereign wealth fund hold 65%, to house its interests in platinum, gold […]

Blanket Mine has reported its first fatal accident in three million hours, its Jersey-headquartered parent, Caledonia Mining Corporation said on Tuesday, only a week after saying it was “proud” of its safety record. Last week, Caledonia chief executive officer Steve Curtis told journalists in Harare that the firm had clocked almost three million accident-free hours […]

ZIMBABWE industry could continue running on coal-fired power plants beyond the next three decades, before completely switching to environmentally friendly advanced technologies, a government official said this week. The global shift from coal, which has been underpinned by fears of escalating climate-change-induced disasters, gained traction during last year’s COP26 conference in Glasgow, Scotland. In an […]

ZIMBABWE’s government this week projected a healthy growth rate in platinum output during 2022, confirming positive sentiment by a new authoritative report, which projected stronger foreign direct investment (FDI) inflows across minerals. Mines and Mining Development deputy minister Polite Kambamura said platinum miners saw their contribution to mineral revenue rise to almost 50% last year. […]