News

RioZim Limited, a publicly traded resource company, reported a wider loss in the 12 months ending December 31, 2023, amounting to ZWL$95.81bn from ZWL$20.04bn incurred in the previous year. Revenue for the miner stood at ZWL$216bn in the period under review from ZWL$ 20bn reported in the previous year. Board chairman, Saleem Beebeejaun, blamed worsening […]

AILING Kwekwe based ferrochrome producer, Zimbabwe Mining and Steel Company (ZIMASCO) has been issued with an ultimatum to abandon the illegal retrenchment exercise and to pay outstanding trade union dues or risk facing dire consequences. The miner reportedly compulsorily retrenched over 200 workers from its various subsidiaries around the country from the company’s operational centres […]

GOVERNMENT has deployed thirteen mobilization groups across the country in a bid to increase production of gold which is backing the recently introduced Zimbabwe Gold (ZiG) currency. Speaking at the first Gold Mobilization workshop, Minister of Mines and Mining Development, Winston Chitando said the government aims to boost the gold reserves and strengthen the ZiG’s […]

Four lithium mining companies have tabled plans to produce battery-grade lithium in Zimbabwe, a government official said on Monday. Zimbabwe, Africa’s top producer of lithium, which is used in electric vehicle batteries and to store renewable energy, is prodding miners to refine the mineral locally as it hopes to boost its economy. Currently, Chinese lithium […]

Zimbabwe’s sole authorised buyer of gold will introduce a system that traces supply of the metal from mines to the market in a bid to stop smuggling. Fidelity Gold Refinery’s initiative will start on September 30, General Manager Peter Magaramombe told miners Monday in the capital, Harare. “The system allows for real-time monitoring from bullion […]

MASSIVE gold leakages have seen the country recording a 1,9% drop in output of the yellow metal in the first quarter of 2024, NewsDay has leant. With the Reserve Bank of Zimbabwe banking on increased gold output to shore up the recently introduced gold-backed Zimbabwe Gold (ZiG) currency, fears abound that the fall in output […]

MINES Minister Winston Chitando has, on behalf of the Government of Zimbabwe, received an invitation to this year’s World Gold Council’s China Gold Congress, one of the biggest minerals conventions on the globe. The conference, set to be held in Shanghai at the National Convention Centre from July 26 to 28, brings together government officials, […]

The Centre for Natural Resource Governance (CNRG) notes with concern a developing criminal case against five accomplices accused of stealing diamonds during a routine sale transaction at the RGM International Airport. This incident, reported by local media, reveals glaring governance and oversight loopholes in the sale of diamonds by a leading diamond mining company Anjin […]

A LOCAL investor BER–Pig Iron and Steel Company (BPISC) has invested US$43,8 million to establish an iron ore processing plant in Redcliff, Midlands province. The company will run under a local consortium Berhard Development Corporation (PVT) Limited. Speaking on the sidelines of a business expo held in Kwekwe recently, BPISC chief executive Bernard Mutanga said […]