News

POST-TAX losses at RioZim Limited widened to $1,5 billion during the half year ended June 30, 2021, after heavy rains triggered flash floods and crippled operations at the firm’s flagship Cam & Motor Mine. RioZim posted a $77,4 million loss during the same period last year. The ZSE-listed mining giant said it was running into […]

RESOURCES firm, Caledonia Mining Corporation (Caledonia) has declared an increased quarterly dividend of US$0,14 per share despite the depressed economic environment. The company’s chief executive officer Steve Curtis yesterday said the dividend represented an 8% increase from the previous quarterly dividend of US$0,13 cents that was paid in July 2021. “We are pleased to announce […]

Nickel consumption is expected to more than double from the 2.4-million tonnes used in 2020 to 4.9-million tonnes by 2040, analyst Wood Mackenzie (WoodMac) said. Speaking at the Australian Nickel Conference on Tuesday, WoodMac principal analyst for nickel, Angela Durrant, noted that the stainless steel market currently accounted for about 70% of nickel consumption; however, […]

RESOURCES firm, Caledonia Mining Corporation (Caledonia) has declared an increased quarterly dividend of US$0,14 per share despite the depressed economic environment. Caledonia chief executive officer Steve Curtis said on Monday the dividend represented an 8% increase from the previous quarterly dividend of US$0,13 cents that was paid in July 2021. “We are pleased to announce […]

MINE workers’ unions have complained about the recent 24% wage increase awarded to the sector saying it is insignificant and has been eroded by inflation. The increase, effective from July 1, 2021, came after collective bargaining by the Associated Mine Workers Union of Zimbabwe (AMWUZ) and the Chamber of Mines Zimbabwe. It will result in […]

AUSTRALIAN Securities Exchange (ASX) — listed independent upstream gas and oil focused company Invictus Energy (Invictus) has breathed life into the sleepy rural settlement of Muzarabani after commencement of works at its multibillion-dollar extraction site near the area. Located in the Zambezi Valley basin, about 300km north east of Harare, the Zimbabwean capital, Muzarabani captured […]

FINANCIAL services outfit, Old Mutual Investment Group (OMIG) says government’s target to ramp up gold output to 100 tonnes per annum will be achievable, although serious efforts towards stemming rampant smuggling would be key. OMIG commented on the government’s grand plan last week, after reports said Zimbabwe could be losing billions of United States dollars’ […]

BLACKGATE investments, a firm that last week lost the disputed Ran Gold Mines near Bindura, has mounted fresh attempts to reclaim the asset, submitting explosive dossiers to anti-corruption agencies alleging ‘mass corruption, racketeering and bribery’ at the Ministry of Mines and Mining Development. The dossiers, which were submitted to the Zimbabwe Anti-Corruption Commission (Zacc) and […]