News

Although the Zimbabwe Energy Regulatory Authority hopes the country will generate 1,100MW from non-hydro renewable energy sources by 2025, Zimbabwe’s best chance for electricity near-term self-sufficiency lies on the vast coalfields of Hwange, where nearly 1,000MW in new generation capacity is at various stages of development. Zimbabwe currently generates about 1,200MW from its old power […]

A SUCCESSFUL US$6,2 million capital raise by Invictus has put the company in an “excellent” position to complete a seismic acquisition programme, its chief executive Scott Macmillan has said. Invictus recently completed an oversubscribed AUS$8 million (US$6 235 500,04) capital raise via a share placement to new and existing institutional and sophisticated investors. This allowed […]

The Export Import Bank (Exim Bank) of India has approved a US$310m loan facility to finance the extension of lifespan of Hwange Power Station, to ensure efficient electricity generation capacity. Hwange Power Station, which is Zimbabwe’s largest coal-fired power plant with an installed capacity of 920MW, has outlived its lifespan of 25 years, meaning there […]

OUR recent meeting with Finance minister Mthuli Ncube highlighted that the country had become much more investor friendly. It was also clear that the positive developments we are seeing today are the result of a plan that was started three years ago. Zimbabwe is on track to run a current account surplus for the third […]

Talk about amendments to the Mines and Minerals Act has been going on for some time. How far have you gone? There are a couple of issues in terms of the update and the first one is the amendment of the Mines and Minerals Act. The amendments are quite advanced and the draft amendments are […]

Zimbabwe’s Mines minister Winston Chitando says the country is rising up to reclaim its position as one of southern Africa’s biggest coal exporters after recent huge investments into coal shafts and coke oven batteries. Underpinned by a big push by Chinese and Russian capital, the investments are projected to raise  the country’s scaled-up production and […]

HWANGE Colliery Company Limited (HCCL) says plans are underway to refurbish and re-commission its defunct coke oven battery and gas plant as part of the company’s turnaround strategy. The giant colliery hopes to consolidate its recovery mode through production of high value products with coking coal and gas being key for top-end domestic market and […]

THE Zimbabwe Diamond Allied and Minerals Workers Union (ZDAMWU) has demanded wage reviews between US$400 and US$600 for mine workers and expressed concern over the delay by employers to pay salary arrears at a time when second quarter wage negotiations should have been concluded. ZDAMWU secretary-general Justice Chinhema said the second quarter wage negotiations were […]

ZIMBABWE’S mining industry says chrome sector growth continues to be undermined by poor prices offered by buyers. Ferrochrome exports form a significant part of minerals that Zimbabwe trades on the international markets every year. Although the country is targeting to transform its mining industry to a US$12 billion sector by 2023, the sector currently generates […]

Bravura Zimbabwe, which is exploring for platinum in the Serui concession in Selous, Mashonaland West Province, has agreed to help the government pay a US$15m settlement to South African-based Amari Platinum, the previous holder of the concession who has battled the government in international courts, it has been learnt. Bravura is owned by the Nigerian […]