News

The major expansion of Hwange Thermal Power Station by the addition of units 7 and 8, each of 300MW, is now 64,63 percent complete despite Covid-19 amid finance challenges that have pushed back completion by 258 days. Government is happy with the progress of the US$1,5 billion project so far. This third phase at Hwange […]

CALEDONIA Mining Corporation says its local unit, Blanket Mine, posted a strong recovery in output last month producing 5 470 ounces of gold. In a performance update for the first quarter ended 31 March 2021, Caledonia said the April production figure was 24 percent above the average monthly output in the quarter. The mining group […]

A TOTAL of US$6 million has been invested into the Eureka gold mining project during the first quarter bringing the cumulative capital expenditure to US$39,3 million. Eureka Gold Mine in Guruve, Mashonaland Central province, is one of the several previously dormant mining assets that have benefited from the New Dispensation’s call for investment under President […]

DIVERSIFIED mining group, RioZim, says gold production across its operations took a dip during the first quarter 2021 as excessive rains pounded most parts of the country. While the 2020/2021 rain season has been good for farmers, RioZim said in its trading update for the quarter ended March 2021, that the heavy rains impacted negatively […]

A CHINESE resources giant has secured exclusive rights to establish an integrated chrome mining and processing operation in Chivhu, giving Zimbabwe fresh impetus to achieve an ambitious plan to attain a US$12 billion mining industry by 2023. Afrochine Smelting, which has a huge presence on Zimbabwe’s chrome fields, on Friday said the operation would sit […]

Padenga Holdings is expecting gold production at its Dallaglio mines to increase by 45 percent over what was achieved in the 2020 financial year. Padenga diversified into gold mining last year following the successful acquisition of a 50,01 percent shareholding in Dallaglio Investments (Private) Limited. Dallaglio is made up of Pickstone Peerless mine and Eureka […]

RioZim Limited’s US$450 million mine development programme at Murowa Diamond Mine in Zvishavane has been granted national project status. Works on the project, which will see the mine switching from open pit to underground mining, have since begun. Government envisages the programme will feed into its plan to grow the sector to a US$12 billion […]

Incremental export incentives announced by Government will encourage listing of exporters on the Victoria Falls Stock Exchange (VFEX), the bourse’s chief executive officer Justin Bgoni has said. Last week, Finance and Economic Development Minister Mthuli Ncube revealed, through a press statement, incentives that are expected to encourage listing and participation of firms on the VFEX. […]

Caledonia Mining Corporation, the parent company for Gwanda-based gold producer, Blanket Mine, is pleased with Reserve Bank of Zimbabwe’s move to give Fidelity Printers and Refiners (FPR) the responsibility for payments of gold deliveries and says the new system is operating well. According to Caledonia, this move will simplify and improve the mechanism for receiving […]

GOLD output at Caledonia Mining Corporation slipped to 13 197 ounces during the first quarter of this year, compared to 14 233 ounces during the same period last year after shafts at Blanket Mine were flooded as heavy rains pounded Zimbabwe, the firm has said. However, Caledonia’s revenue marginally increased during the period on the […]