News

Australia Stock Exchange (ASX) listed and Zimbabwe focused oil and gas exploration junior, Invictus Energy, has requested a suspension of trading in its shares ahead of an update this week relating to a capital raising programme. Invictus Energy managing director Scott Macmillan, said in accordance with the requirements of Listing Rule 17,1, the company had […]

SOUTHERN Africa focussed oil and gas exploration outfit Invictus Energy halted trading on the Australia Stock Exchange (ASX) yesterday, a week after the bourse queried a sudden surge in demand for its shares. The firm, which has been scouring for oil in Zimbabwe’s Muzarabani district, had reported earlier that it could potentially be sitting on […]

The list of hardships and suffering linked to Zimbabwe’s diamond mines is growing longer by the day. Since diamonds were discovered in the Marange fields in 2001, non-governmental organisations have been looking into abuse and dodgy dealings: Human rights violations; Opaque business deals; Unfair treatment of residents; Diamond smuggling. The Marange diamond fields are in […]

Prospect Resources — developer of the Arcadia lithium project near Harare — has begun discussions with financiers to unlock funding for the staged development of a petalite pilot plant needed to achieve near-term production, the mining junior said last week. The company is in discussions with financiers, strategic corporate and institutional funders. Talks to consider developing a joint venture […]

ZIMBABWE’s sole graphite producer Lynx Mine has sought bankruptcy protection, five years after the Zimbabwe Mining Development Corporation (ZMDC)-controlled operation hit turbulence as international graphite prices plummeted. The 56-year-old firm, formerly a joint venture between the ZMDC and Graphite Kropfmühl GmbH of Germany, at one point scoured the markets courting lenders to inject about US$5 […]

ZIMBABWE’s new bourse, the Victoria Falls Stock Exchange (VFEX) has been pulled back by multiple headwinds stemming out of its “politically motivated” founding process last year after Zanu PF hawks were angered by fungible counters, analysts said this week. The hype that permeated Zimbabwe’s capital markets during the build up to the VFEX’s launch six […]

MIDLANDS-based, Chimona Mining Company, has spread its wings to Bubi District in Matabeleland North where it has acquired new gold mining rights and will be setting up a processing centre under a US$500 000 investment. The venture is expected to create more job opportunities and promote formalisation of artisanal mining activities in Bubi, which is […]

NYSE-listed resources outfit Caledonia Mining Corporation Plc got a major boost last week after it was admitted into the MVIS Global Junior Gold Miners (GDXJ) Index for the first time. The admission, which became effective on Friday, followed the GDXJ Index’s first quarter 2021 review, according to a statement released by the firm whose flagship […]

The Zimbabwe Iron and Steel Company (ZISCO) is strengthening corporate governance systems to enhance its attractiveness to investors, a Cabinet minister has revealed.  Industry and Commerce Minister Dr Sekai Nzenza, told The Herald Finance & Business that board compact and charter was signed and all corporate governance, performance management and loss control systems were now in place.   […]

One buyer has been snapping up all parcels at diamond auctions amid concerns some officials from the Zimbabwe Consolidated Diamond Company (ZCDC) and the Minerals Marketing Corporation of Zimbabwe (MMCZ) could be leaking the reserve price in the latest scandal to hit the sector, Business Times can report. This has consequently taken the high moral […]