News

LITHIUM exploration underway at Fort Rixon, Matabeleland South is set to heighten Government’s measures of using the mining sector as leverage to reach its target of a US$12 billion economy in the extractive industry. The Government recently gave an Exclusive Prospecting Order (EPO) to mining giant Premier African Minerals to commence the exploration process on […]

Masvingo City’s only heavy industry,SIMBI, owned by Steelmakers is set to resume production in the ancient city mid this month in a move expected to spur economic activity in the country’s oldest town. SIMBI,an acronym for Sponge Iron Mining and Beneficiation Industries,had been mothballed since August 2019 after being choked by incessant water shortages coupled […]

A British company is ready to set up a £30 million solar plant in the country, British Ambassador to Zimbabwe Ms Melanie Robinson said yesterday. The investment by the British company is an indication that Zimbabwe has a conducive investment climate, which the Second Republic has been working on improving since 2017. Critically, the investment […]

THARISA, the Johannesburg Stock Exchange-listed platinum and chrome producer, has acquired Salene Chrome Zimbabwe for US$3 million as part of its growth strategy in the country. Salene Chrome is a low-lost property at development stage on the Great Dyke, which Tharisa believes can be brought to production quickly. Salene has special grants on the Great […]

THE Victoria Falls Stock Exchange (VFEX) recently made a call for contributions towards the crafting of a listing and trading framework for small-scale mining companies. In a bid to extend its product range, the exchange has identified the small-scale mining sector as a viable destination for investment. This is a notable development because if it […]

The value of Zimbabwe’s gold export receipts jumped by more than half to US$97.06m in April 2021 from US$63.42m reported in the same period last year due to improved bullion deliveries and firming prices on the international market. The relaxation of the Covid-19-induced lockdown and the end of the rainy season also contributed to an […]

ZESA’s debt to Hidroeléctrica de Cahora Bassa (HCB) rose to US$97 million last year, up from just over US$45 million in 2019, the Mozambican power supplier HCB says. Zimbabwe was the second largest debtor to HCB in 2020, after EDM, Mozambique’s power utility, according to HCB’s financial statements for 2020. HCB operates the Cabora Bassa […]

Government has set an ambitious target in which the mining sector will generate US$12bn annually by 2023. Mines and Mining Development minister Winston Chitando highlights the teething problems facing the sector and his plans to grow the multi-billion dollar industry. Below are excerpts of the interview: I know that you’ve been working in the private […]

Zimbabwe’s largest platinum miner, Zimplats, reported low output in the quarter to March 31, 2021  owing to the closure of operations at its Ngwarati Mine early this year. The mine was shut down after a portion of the high wall subsided, fatally injuring an employee. “As a result, tonnes mined, milled grade and process recoveries […]