News

Gold miner Shamva Mine is targeting to produce 3 500 kilogrammes (kg) annually once fully developed. Mines Minister Winston Chitando Currently, Shamva Gold Mine, which was officially re-opened last year by President Emmerson Mnangagwa, is producing about 65kg a month, which translates to about 780kg a year. Shamva is a subsidiary of Kuvimba Mining House […]

The Zimbabwe Mining Development Corporation (ZMDC) is planning to reduce its shareholding in mining assets across the country as part of a privatisation drive. ZMDC operates Sabi Gold Mine in Zvishavane, Jena Gold Mine in Silobela, and Elvington Gold Mine in Chegutu, Mhangura Copper Mine, Alaska, Sandawana and Kamativi. It has a stake in Great […]

INVICTUS Energy, which is developing the Cabora Bassa oil and gas project in Muzarabani, has embarked on a recruitment drive targeting to employ 100 locals ahead of the firm’s seismic acquisition campaign. The seismic acquisition is a process of gathering subsurface vibrations during oil and gas development and used to determine location with higher chances […]

Zimbabwe’s prospects of becoming a major supplier of lithium, a critical raw material for modern batteries, inched closer yesterday with the commissioning of a pilot plant at Arcadia Lithium Mine near Harare. Australia-listed Prospect Resources, which secured a long-term off-take partner for Arcadia with Sibelco of Belgium, has been moving forward with its mining venture […]

THE Reserve Bank of Zimbabwe (RBZ) says it now allows large-scale gold miners who deliver the yellow metal above the monthly average quantities to retain 80% of their forex earnings and directly export a portion of their bullion as it gradually eases control of gold trading in the country. Analysts yesterday said the move would […]

ENERGY firm, Invictus Energy Limited (IEL) says its seismic contractor, Polaris Natural Resources Inc, for the Cabora Bassa Project has begun hiring staff to commence operations. The Cabora Bassa Project started in late 2018 and encompasses the Muzarabani Prospect in Zimbabwe believed to have multi-trillion cubic metres worth of liquids rich in conventional gas-condensate. In […]

AUSTRALIA-LISTED mining group, Prospect Resources, has started lithium production at its newly developed Arcadia Mine under a pilot plant project. The Arcadia lithium project is situated in Goromonzi near Harare. Prospect Resources recently announced the completion of construction and commissioning of the Arcadia Lithium pilot plant project, marking the commencement of production. The construction and […]

Government policy is vital insofar as it permeates every aspect of daily life, therefore, how successfully policies are implemented is essential to the success of the economy. Over the past week, Kuvimba Mining House announced a US$5,2 million dividend, which effectively met the Government’s obligations in respect of a number of key policy areas, namely: […]

Zimbabwe is primed to draw significant benefits from its diverse mineral resources amid projections that, at 7 percent growth per annum, the sector will outpace growth for the rest of the economy over the next five years. The Government has designated the sector as anchor for the country’s economic growth in the short to medium […]

Better Brands Jewellery (BBJ), a local gold-buying agent, has delivered 1,39 tonnes of gold to Fidelity Printers and Refiners (FPR) so far this year, which eclipses cumulative deliveries by the small-scale mining sector. BBJ founder and chief executive officer Mr Pedzisai Sakupwanya said he hopes to double deliveries by year-end. “Having delivered 1,39 tonnes of […]