287 views
FEATURED
Mining Index Zimbabwe
- February 8, 2022
287 views 6 mins

Diamonds industry rebounding strongly after disruptive two years

Consultancy Bain & Company and the Antwerp World Diamond Centre (AWDC) report that the diamond industry is experiencing a “spectacular” rebound after a decline in 2020 as a result of the Covid-19 pandemic, when diamond jewellery sales fell by 14% and rough diamond sales by 31%. The eleventh yearly ‘Global Diamond Report 2021-2022’ – compiled […]

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164 views
FEATURED
Mining Index Zimbabwe
- February 8, 2022
164 views 3 mins

Power shortages cripple miners

THE country’s largest ferrochrome producer, Zimasco is battling increased power outages which have seen the firm resorting to expensive sources of power. Zimbabwe has long been stuck in a biting power crisis that has forced the power utility, Zesa, to import power from Mozambique. Many businesses including miners have resorted to alternative power sources, such […]

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440 views
FEATURED
Mining Index Zimbabwe
- February 8, 2022
440 views 7 mins

SA businessman petitions Zondo over Shabanie Mine

SOUTH African businessman, Cleopas Sanangura has petitioned courts seeking reprieve over adverse rulings made against Shabanie Mashaba Mines in the South African legal jurisdiction. The adverse rulings against Shabanie Mashaba Mines were on cases brought by the government of Zimbabwe to South Africa seeking to claim money allegedly siphoned out of the country. Sanangura claims […]

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312 views
FEATURED
Mining Index Zimbabwe
- February 8, 2022
312 views 7 mins

US and Japan reach agreement to remove Trump-era steel tariffs

The U.S. and Japan reached a truce that will allow most steel shipments from the Asian nation to enter tariff-free for the first time since 2018 and sees the countries working together to combat Chinese trade practices that harm the industry. Washington will suspend the 25% levy on incoming steel imports from Japan up to […]

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219 views
FEATURED
Mining Index Zimbabwe
- February 8, 2022
219 views 5 mins

Decriminalise gold possession, govt urged

ZIMBABWE must institute a raft of measures that include decriminalising gold possession, easing licensing and securing modern technology to boost output, gold sector experts have said. Last year, gold output was 29,6 tonnes with large gold producers delivering 11,1 tonnes while small-scale producers contributed 18,4 tonnes, according to the Reserve Bank of Zimbabwe. Gold is […]

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124 views
FEATURED
Mining Index Zimbabwe
- February 7, 2022
124 views 5 mins

Rough shortages could last 10 years

The current shortfall in rough production will likely continue for up to a decade, while both demand and prices will remain strong, according to Bain & Company. Output fell 20% to 111 million carats in 2020 as the coronavirus pandemic forced companies to shut deposits, Bain said Monday in “The Global Diamond Industry 2021-22,” the […]

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226 views
FEATURED
Mining Index Zimbabwe
- February 7, 2022
226 views 2 mins

Operating coal-fired power plants more expensive than switching to renewables – research

Generating electricity from solar power is cheaper than doing so through coal-fired power plants, a new article published in the journal Energy and Environmental Materials states. According to Ravi Silva, Director of the Advanced Technology Institute at the University of Surrey and author of the paper, solar energy typically has a cost comparative with or […]

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253 views
FEATURED
Mining Index Zimbabwe
- February 7, 2022
253 views 51 secs

Zimbabwe makes U-turn on mining royalties to halt currency slide

Zimbabwe’s finance minister requested mining companies pay up to half of their royalties in local currency, as part of measures to stem a decline in the unit that has been fanning inflation. The order reverses a 2020 decision requiring mining companies to pay the tax only in foreign currency. A similar rule has been imposed […]

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261 views
FEATURED
Mining Index Zimbabwe
- February 7, 2022
261 views 4 mins

Tempers flare over Redwing mine takeover bid

AT least 200 Redwing Mine workers in Penhalonga Thursday lodged a protest judicial management’s move to reinstate Betterbrands Mining Company (BMC) under unclear circumstances, NewZimbabwe.com can report. In an unprecedented move, workers opted for the return of Metallon Gold as they resisted efforts by the Interim Corporate Rescue Practitioner (ICRP)’s Knowledge Hofisi to reimpose opaque […]

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158 views
FEATURED
Mining Index Zimbabwe
- February 7, 2022
158 views 3 mins

Electric vehicles drive up nickel, cobalt and lithium prices

Accelerating sales of electric vehicles have fuelled a scramble for nickel, cobalt and lithium, propelling prices of the battery materials to multi-year highs Phasing out internal combustion engine (ICE) cars in favour of electric vehicles is part of the energy transition and efforts to cut carbon emissions. More than 6.36-million electric vehicles were sold last […]

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