News

Fidelity Printers and Refiners (FPR) has set a target of 40 tonnes this year if it maintains the current incentives and timeous payments for gold deliveries, an executive has said. Gold deliveries in 2021 reached 29.6 tonnes up from 19 tonnes recorded in the previous year. Last year’s deliveries are expected to go up when […]

The first additional power-generating unit of Hwange Power Station (HPS) expansion project – Unit 7 – will be commissioned in November this year, adding 300MW to the grid, the Zimbabwe Power Company (ZPC) has confirmed. Cumulatively, the two units under construction will add 600MW to the grid upon completion. In a statement on Twitter, ZPC […]

CHINESE authorities have aggressively waded into the standoff between Beijing’s companies operating in Zimbabwe and the “superfluous” non-governmental organisations, boasting that without the world power’s investments, Harare would be “candle lit” and struggling without internet. China has emerged as the biggest source of investment into Zimbabwe since Harare’s diplomatic tiff with Western powers two decades […]

CHINESE mining company, Edsabri (Private) Limited, has been fined $520 000 by the Environmental Management Agency (Ema) for conducting gold mining activities at the Inyorka ranch in Matobo district, Matabeleland South province without an environmental impact assessment certificate. Ema provincial manager Decent Ndlovu confirmed the development yesterday, adding that the miner had been ordered to […]

Zimbabwe’s mining companies need over US$5bn to recapitalise their operation in 2022 to ramp up production and reach optimum levels, the Chamber of Mines of Zimbabwe has said. It is expected that when fully capitalised, Zimbabwe will reach the US$12bn mining industry target by next year. Zimbabwe has over 60 recognised mineral occurrences, which when […]

Zimbabwe’s gold exports rose 42% last year raking in US$1.7bn compared to US$1.2bn earned in the previous year on the back of increased output and firming prices, the central bank has said. “The country’s gold export receipts have gone up 42% to US$1.7bn during 2021 from US$1.2bn earned during 2020 due to improved gold output […]

INVICTUS Energy, the Australian firm that is exploring for oil and gas in north-eastern Zimbabwe, says it has made significant headway in the data processing phase of the project. The firm said it was expecting final data next month from Canadian firm, Earth Signal Processing (ESP), whose results would be crucial in determining the next […]