News

One of Zimbabwe’s largest gold producers, RioZim’s plans to build a 2 800 megawatt (MW) coal fired power plant in Sengwa, Gokwe North, needs to clear three major hurdles to see the light of day. This follows revelations that Chinese banks, who have agreed to fund the project, have demanded updating or rescheduling of outstanding […]

INVICTUS Energy says its oil and gas exploration project in Muzarabani is well on course after awarding a contract for a seismic survey to Canadian firm Polaris Natural Resources.  A seismic survey is a method used during the exploration phase of oil and gas development. It uses devices to collect data that gives an idea […]

PRESIDENT Emmerson Mnangagwa has ordered the return of a Chinese company, Afrochine, to prospect for coal in the Hwange National Park, barely eight months after the company was booted out after wildlife campaigners protested over “ecological degradation” of the park. According to a Government Gazette published on April 16, “the Mines and Mining Development minister, with the […]

EMPLOYEES of SMM Holdings, the parent company of Shabani and Gaths asbestos mines have made an application to Government seeking the removal of administrator Mr Afaras Gwaradzimba whom they claim continues to hold the office illegally. SMM, formerly owned by businessman Mutumwa Mawere was placed under reconstruction in terms of Presidential Powers (Temporary Measures) (Reconstruction […]

Anglo American Platinum’s local unit Unki Mine’s platinum group metals (PGM) production for the first quarter to March 31, 2021 rose 4 percent to 50 900 ounces compared to same period in the prior year despite Covid-19 related disruptions. Platinum output increased by 4 percent to 22 600 ounces while palladium rose by 2 percent to […]

SMM Holdings administrator Afaras Gwaradzimba allegedly sold land under the company’s mining leases, with the land set to be converted into residential stands. SMM, formerly owned by businessman Mr Mutumwa Mawere owns asbestos mines—Shabanie in Zvisvavane and Gaths in Mashava. Both mines ceased operations one and half decades ago due to lack of funding and […]

Zimbabwe’s multi-billion dollar mining sector has been granted the nod to pay part of their royalties, taxes and rural district council levies in local currency in a major boost for the capital intensive sector, Business Times can report. The sector contributes over 60% of the country’s export receipts which is used to oil the economy through the […]

Zimbabwe’s gold export receipts have spiked 15% to US$147.3m in February and March this year from US$128m recorded during the comparative period last year on the back of firming international gold prices, latest data has shown. The importation of United States dollars and raw materials have been much easier this year compared to same period […]

INVICTUS Energy has awarded Canadian firm Polaris Natural Resources a contract to undertake seismic survey (gathering earth vibrations) on its special grant in Muzarabani where it is exploring for oil and gas. The Australia-Stock-Exchange (ASX) listed firm will use the data gathered from the seismic survey programme to select sites on which oil and gas […]