News

By Lucy Tandi – Friday 23 July 2021 HARARE (Mining Index) – CHINA’S biggest bank, the Industrial and Commercial Bank of China (ICBC) has withdrawn its interest to finance the construction of a US$3 billion thermal power project in Zimbabwe, campaigners said after meeting bank officials last month. ICBC told environmentalists in a meeting that they […]

Zimbabwe’s gold export receipts rose 23% to US$464.2m in the first six months of this year from US$377.9m achieved in the prior comparative period propelled by firming prices on the international markets. The yellow metal was on average fetching US$46,600 per kilogramme (kg) during the reviewed period compared to US$35,600 per kg in 2020. However, […]

AUSTRALIA Stock Exchange-listed lithium miner, Prospect Resources says it has produced 25 kilogrammes of spodumene concentrate from core samples collected at Arcadia Mine, a world-class asset under development in Zimbabwe. Spodumene is considered the most important lithium ore mineral, which is crashed to form a concentrate before shipment to chemical manufacturing companies worldwide. The firm […]

The Mines and Minerals Act (Chapter 21:05) (the Act) is the principal Act regulating the mining industry in Zimbabwe.  There are several regulations and other Acts that apply. In this article an overview is given of the Act. Space permitting specific issues or parts of the Act will be dealt with in future. Arrangement of […]

As global copper prices continue firming and demand of the commodity likely to surge on massive capital expenditure on the green projects, Zimbabwe has set sights on resuming copper production by 2023, a Cabinet minister said. While oil remain a key energy sector, analysts believe the use of copper will play a critical role in […]

VICTORIA Falls Stock Exchange (VFEX) listed company, Padenga Holdings Limited, has invested US$50 million in Eureka Gold Mine with the Guruve-based mining project set for opening this month. Eureka was forced to shut operations after running into viability problems two decades ago with capital shortages at the centre of the mine’s troubles. Through its gold […]

THE country’s gold output last month increased by 75 percent to 2,924 tonnes from 1,668 tonnes in May on the back of incentives availed by the Reserve Bank of Zimbabwe (RBZ). Latest statistics released by Fidelity Printers and Refiners (FPR), which is the country’s sole gold buyer, indicate that last month’s output was 107 percent […]

PLATINUM producer, Unki Mines, has invested US$48 million towards increasing its concentrator capacity, which is expected to boost output by 30 percent. General manager, Mr Walter Nemasasi, said the new concentrator was set for commissioning sometime in September. He was briefing the Minister of State for Presidential Affairs responsible for monitoring implementation of Government programmes, […]

The Zimbabwe Consolidated Diamond Company posted a profit of US$26,35 million on production of 151,3kg of diamonds for the first half of this year, with profits being just over 40 percent of the diamonds sold. According to a report to Parliament, the company made a profit of US$26 356 890 and states that it is […]