News

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 […]

Mining investment consortium, Chandiwana Mining Corporation, says it is constructing a processing plant at the Zvishavane-based Sabi Gold Mine as it moves to ramp up output. Chandiwana is the majority shareholder in Sabi Mine, holding 51% stake. It has the intention to increase its shareholding in the gold miner. Brian Chandiwana, the managing director of […]

Zimbabwe gold deliveries fell 17% to 1.668 tonnes in May 2021 from 2.015 tonnes achieved in the prior comparative period owing to unfavourable policies and smuggling. In April this year, gold deliveries declined 5% to 1.38 tonnes from 1.46 tonnes recorded in the same period in 2020. The only positive output was recorded in March […]

Revenue from Zimbabwe’s platinum sector is expected to exceed US$3bn by the end of next year, driven by new projects that are expected to take off at the end of this year and the beginning of 2022, Mines and Mining Development minister Winston Chitando has said. Revenues for the sub-sector have been hovering between US$1.5bn […]

The Reserve Bank of Zimbabwe (RBZ) has slashed small scale miners’ royalties and the cost of importing cash as part of efforts to improve gold deliveries to Fidelity Printers and Refiners (FPR) and stem the smuggling of the yellow metal. FPR is now buying gold at the prevailing international gold prices. Earlier this week, the […]