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FEATURED
Mining Index Zimbabwe
- October 29, 2021
234 views 4 mins

Survey: Zimbabwe’s miners are more confident about 2022, but old worries still lurk under

Zimbabwe’s mining executives are more confident of the industry’s prospects next year than they were in 2021, but their optimism is tempered by old concerns over erratic government policy. According to the Zimbabwe Chamber of Mine’s latest annual survey of sentiment among the heads of the country’s biggest mines, “mining executives are confident about the […]

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183 views
FEATURED
Mining Index Zimbabwe
- October 29, 2021
183 views 48 secs

Man trapped to death in mine collapse

A MARANGE man was on Monday morning trapped to death in a mineshaft in Penhalonga. Manicaland acting provincial police spokesperson Assistant Inspector Wiseman Chinyoka confirmed the death of Fidelis Kashaya (22), who was trapped at Taikona Mine in Penhalonga on October 25 at around 11am. The now-deceased was reportedly employed at the mine. Chinyoka said […]

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264 views
FEATURED
Mining Index Zimbabwe
- October 28, 2021
264 views 2 mins

Zimbabwe miners losing 20% of export proceeds to exchange rate distortions – report

Zimbabwe’s miners are losing 20% of their export proceeds due to a widening gap between the official and black market currency exchange rate, an industry report showed on Wednesday. The Zimbabwe dollar is trading at 93 to the dollar on the official market, but is quoted as low as 180 against the greenback on a […]

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311 views
FEATURED
Mining Index Zimbabwe
- October 28, 2021
311 views 19 secs

Congo’s economic growth rises on mining sector performance

The International Monetary Fund on Wednesday revised upward this year’s economic growth forecast for the Democratic Republic of Congo to 5.4% due largely to higher-than-expected mining production. The IMF said in statement that it had also reached a staff-level agreement with Congo’s government on the first review of a three-year $1.5-billion extended credit facility that […]

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147 views
FEATURED
Mining Index Zimbabwe
- October 28, 2021
147 views 7 mins

Miners table fresh demands …. as firms lose US$1.7bn

Miners are pushing the Reserve Bank of Zimbabwe (RBZ) to ‘ring-fence’ the 40% surrender requirement component and allow firms to pay for essential services and taxes at the official exchange rate to rescue the multi-billion-dollar sector. The development comes at a time when the miners are losing 20% gross export proceeds due to the exchange […]

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330 views
FEATURED
Mining Index Zimbabwe
- October 26, 2021
330 views 4 mins

Karo Platinum studies complete

London Stock Exchange-listed Tharisa has completed the implementation studies at its Ngezi-based Karo Platinum project. Three years ago, Tharisa acquired a 26.8% shareholding in Karo Mining Holdings Ltd (Karo Holdings) for a total cash consideration of US$4.5m from the Leto Settlement. It then entered into an investment agreement with the Republic of Zimbabwe to establish […]

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286 views
FEATURED
Mining Index Zimbabwe
- October 26, 2021
286 views 3 mins

Caledonia confident of production target

Caledonia Mining Corporation says it is confident of achieving its production target of 80,000 ounces from next year following the commissioning of the central shaft at its Zimbabwe unit Blanket Mine. In the third quarter to September 30, 2021, the company reported a record 25% gold production increase to 18,965 ounces from 15,155 ounces produced […]

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276 views
FEATURED
Mining Index Zimbabwe
- October 26, 2021
276 views 3 mins

Fossil-fuel divestment supported by investors with $39tr

About 1 500 investment institutions overseeing a combined $39.2-trillion of assets are now committed to divesting from fossil fuels, according to a report issued Tuesday by DivestInvest. That’s a huge increase from $52-billion across 181 institutions in 2014, the first year the group tallied such commitments. So far in 2021, the $16-billion Ford Foundation, started […]

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228 views
FEATURED
Mining Index Zimbabwe
- October 26, 2021
228 views 2 mins

Petra records good first-quarter revenue growth

London-listed Petra Diamonds achieved good revenue growth of 48% year-on-year to $114.9-million for the quarter ended September 30 – the first quarter of Petra’s 2022 financial year. “The company has delivered a very strong revenue result due to the contribution of exceptional diamond sales, supported by the continued strength in the diamond market,” CE Richard […]

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316 views
FEATURED
Mining Index Zimbabwe
- October 26, 2021
316 views 2 mins

Investors shell out US$24 Million Into Argus

YOUNG Zimbabwe businessman Batsirai Joel Matiza has attracted the interest of international investors after spearheading successful acquisitions of Cobalt mining companies based in the Democratic Republic of the Congo. Matiza, using off-shore based Argus Group as the special purpose vehicle, has entered into deals which will see him partnering with international companies across the globe. […]

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