News

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 […]

ZIMBABWE’S chrome producers said this week a pricing committee established by the Minerals Marketing Corporation of Zimbabwe (MMCZ) should take a proactive role in addressing serious distortions that have pushed small scale miners to the brink. Zimbabwe Miners Federation (ZMF) chief executive officer Wellington Takavarasha spoke as miners said following a ban on chrome ore […]

Zimbabwe has allowed the export of 200 000 t of excess power coal because of limited intake at its biggest coal-fired power plant, which is beset by frequent breakdowns, the coal producers association said on Friday. The Southern African nation’s six coal miners have a standing arrangement to supply 300 000 t of coal to […]