News

CHINESE company Beifa Investments (Pvt) Ltd has broken its silence on the Dinde project in Hwange and absolved itself of wrongdoing after it was accused of pushing to displace villagers and desecrating graves. Recently, members of the Dinde community and local Zanu PF leadership staged a protest against the firm’s operations as villagers feared that […]

Invictus Energy says it is on course to begin a seismic campaign in Muzarabani this quarter, after the Australia Stock Exchange listed firm successfully raised requisite capital funding.  The company said in an update this week it had recently raised A$8 million (US$6,2 million) for the seismic campaign and mobilisation of long haul equipment ahead […]

IDELITY Printers and Refiners (FPR), a gold buying subsidiary of the Reserve Bank of Zimbabwe, is leaving no stone unturned in its battle to block the forfeiture of its Kwekwe gold mining claim over non-payment of statutory fees.  It has now turned to the Supreme Court seeking to overturn the recent High Court decision to […]

POLICE in Kwekwe last week arrested a notorious leader of a machete gang in connection with attempted murder and murder in the Midlands city. Cripwell Marandure (26), alias Tafadzwa of Mbizo in Kwekwe, allegedly leads a machete gang called Magrigamba, which is reportedly notorious for terrorising miners in Kadoma and Kwekwe. According to a police […]

Zimbabwe’s biggest platinum miner,  Zimplats said on Monday it recorded 24 Covid-19 cases among its  workforce in the first quarter of the year. In a quarterly update, the miner said another seven had been earlier infected, bringing the total to 31 since the onset of the pandemic in March last year. All the workers had […]

By Business Reporter – Monday 3 May 2021 HWANGE (Mining Index) – A LOCAL Hwange villager was last week allegedly burned by gas at South Mines, a Chinese mine situated in Hwange. More details to follow …..

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 […]