News

THE Zimbabwe Stock Exchange (ZSE) has said close to US$3 million is required to set up the Victoria Falls Stock Exchange (VFEX) settlement guarantee fund meant to instil confidence in investors. Dubbed the game-changer, VFEX was launched last year in October as part of Government’s efforts to transform the resort city into an off-shore financial […]

Two global mineral extraction giants have endorsed Zimbabwe as a conducive mining investment destination, poised to attract billions of international capital on the back of friendly policies, stable and peaceful business environment. Australia Stock Exchange listed firm, Prospect Resources and New York Stock Exchange-listed Caledonia Mining Corporation, have become the latest leading international investors to […]

METALLON Gold has invested US$33 million in the reopening of Redwing Mine and deepening of How Mine in a fresh bid to resuscitate its business empire. The decision by the Mzee Khumalo-run entity to reinvest in the two mines follows the arrest of Redwing Mine judicial manager Cecil Madondo on fraud charges after he allegedly […]

The government is contemplating setting up a task force to investigate the continued fight for the control of Redwing Mine in Penhalonga, which is currently under receivership, Business Times can report. Although the mine is controlled by Metallon Corporation, the government is concerned by the fights for the control of the mine in Manicaland province amid revelations […]

EIGHTY-four percent of small and artisanal miners are not registered, their representative body has disclosed, which calls for efforts to formalise the operations in order to reduce the incidence of leakages. Zimbabwe Miners Federation (ZMF) chief executive Wellington Takavarasha, told a webinar on the status of the gold mining sector that only 16 percent of […]

MIDLANDS-based ferrochrome producer, Zimasco, is carrying out rehabilitation works at its West Plant, as it prepares to restart operations at the furnaces. The development comes after the expiry of a five-year lease agreement between the company and Portnex, who ceased operations in 2019. Portnex and Zimasco signed a lease deal in 2015 that saw the […]

China’s Tsingshan Holding Group is set to start developing an iron ore mine and a carbon steel plant in Zimbabwe from May, the African country’s information minister said late on Tuesday, three years after the firm first announced the investment deal. Tsingshan signed a US$1-billion outline agreement with Zimbabwe in June 2018 to build a […]