News

Zimbabwe miners say the increase in the export surrender requirement to 40% is hurting production, resulting in serious shortfalls as they battle to sustain operations in the capital intensive sector. The mining sector generates more than 60% of Zimbabwe’s foreign currency revenue. On January 7 this year, the central bank’s Monetary Policy Committee (MPC) increased […]

The Minerals Marketing Corporation of Zimbabwe (MMCZ) is offering a venture capital partnership to bidders willing to set up a diamond processing company. MMCZ plans to invest in a company that offers a return on investment within five years, according to a notice. Bids close on April 13. “In line with the corporation’s strategic initiatives […]

Invictus Energy, which is exploring for oil and gas in Muzarabani, has received firm commitments from investors to raise US$10,48 million (A$8 million), which the firm requires to fund exploration. The oil and gas exploration junior said the resources will be raised through a share placement to new and existing institutional as well as sophisticated […]

The first open pit blast has been successfully detonated at Eureka Gold Mine ahead of production resumption, Dallaglio Investments have said. Eureka Gold Mine is one of the several previously dormant mining assets that have benefited from the New Dispensation’s call for investment under President Mnangagwa’s Zimbabwe is open for business drive. Reconstruction works at […]

Zvishavane-based platinum miner and Implats subsidiary, Mimosa Mining Company, has handed over state-of-the-art training and research equipment worth US$130 000 to the Midlands State University Faculty of Engineering and Geo-sciences.  The donation is in line with the company’s “Invest Beyond Mining” drive, comprising wi-fi enabled microscopes, one of which has an in-built camera, a wi-fi […]

PROFIT at Caledonia Mining Corporation rose by 50% to US$46,6 million during the year ended December 31, 2020, the firm said on Tuesday, attributing the growth to robust gold prices. Caledonia operates Gwanda-based gold producer Blanket Mine, which has been on an aggressive expansion programme over the past five years. Gold prices ended 2020 at […]

Beneath the surface of its latest economic crisis, Zimbabwe has been quietly positioning itself as a future major exporter of chromium to the insatiable Chinese market. Chinese demand for chromium is mainly driven by stainless steel, of which it is the world’s largest consumer. The country does not have its own chromium reserves and relies on […]

Five months ago, George Roach, the CEO of Premier Africa Minerals, was sounding the frustration shared by many would-be investors in Zimbabwe. He was casting his eyes elsewhere. Bureaucracy was stalling the company’s investment plans, focused on the RHA Tungsten mine and Zulu Lithium in Fort Rixon. A single signature, he said then, was delaying […]