News

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 […]

Fidelity Printers and Refiners (FPR) general manager, Fradreck Kunaka, is leaving the country’s sole buyer, refiner, and exporter of gold, at the end of this month after six years at the helm. Well-placed sources at FPR, a subsidiary of the Reserve Bank of Zimbabwe (RBZ), this week said his departure after 20 years of service, […]

ZIMBABWE’S largest platinum group of metals (PGMs) producer, Zimplats Holdings Limited, has recorded a 79 percent increase in sales revenue for the half year ended December 31, 2020 after receipting close to US$675 million. The resources group reported that the jump was largely a result of increases in average metal prices and volumes of metal […]

A US$33 million chest has been set aside for the revival of Metallon Gold’s two gold mining assets that have run into viability problems largely due to lack of capital, The Herald Business and Finance has established. Metallon was at one-time Zimbabwe’s largest gold producers, thanks to output from its mining assets which included How […]

The Australia Stock Exchange (ASX) has demanded explanation from Zimbabwe focused gas and oil exploration junior, Invictus Energy, over a sudden spike in its share price and a sharp jump in volumes of stock traded in a single session last week.   Chris Hesford, ASX compliance division, wrote to Invictus Energy, which is exploring for oil […]

A TOTAL of 84 people died in 2020 due to mining accidents in the Midlands province alone amid calls for improved workplace safety. Between January and February this year, eight people have already lost their lives to mining related accidents. Most accidents take place in uninspected and unsafe mines where artisanal miners work without supervision […]

GOVERNMENT has issued 25 exclusive prospecting orders (EPOs) across the country, giving mining firms the rights to prospect for minerals over the next three years. Each of the EPOs cover 65 000 hectares, according to the Government Gazette. Issued by the Mining Affairs Board, EPOs confer exclusive rights to holders to prospect for minerals. The EPOs […]