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Platinum has maintained its foothold as the cornerstone of the mining sector as it was the largest foreign currency generator in 2020 on the back of stability in the sub-sector. According to official data obtained from the Reserve Bank of Zimbabwe (RBZ) exports receipts for platinum hit US$1.8bn while gold raked in US$994.7m. In fact, […]

THE mining sector is on track to meet the target of generating US$12 billion annual revenue by 2023, Mines and Mining Development Minister Winston Chitando has said. The ministry is presently carrying out an assessment of performance of the industry since the launch of the policy in 2019, set to be released at the end […]

Zimbabwe’s gold export receipts plummeted 46% to record US$53.1m in January 2021 from US$98.1m during the same month last year due to delays in payments and heavy rains, the Reserve Bank (RBZ) has said. With heavy rains, delays in payments, gold export receipts are likely to plunge further this year, according to industry players. “Gold […]

Zimbabwe’s largest lithium miner, Bikita Minerals has upgraded its plant which will now be able to beneficiate its own lithium ore and that of other players in the country. The development comes at a time when Zimbabwe is being touted as a future major source of lithium. “The entire plant at Bikita is now dedicated […]

ZIMBABWE’S largest platinum miner, Zimplats became one of the earliest beneficiaries of the forex auction system introduced by the central bank last year after reducing exchange losses by US$5,5 million during the half year ended December 31, 2020. Zimplats’ financial statements showed the group recorded net foreign currency exchange losses of US$0,1 million compared to […]

ZIMBABWE is ripe for Middle Eastern investment in mining, agritech and financial technology, according to the chairman of CBZ Holdings, Zimbabwe’s biggest bank. Marc Holtzman, who is also chairman at the Bank of Kigali, says Middle Eastern investors are already present in Zimbabwe and Rwanda, with Dubai Ports having a strong presence in both countries. […]

The Chamber of Mines of Zimbabwe (CoMZ) is engaging the Reserve Bank of Zimbabwe (RBZ) with a view to finding a solution to challenges caused by the new foreign currency regulations announced by the central bank in the Monetary Policy Statement. Under the new foreign currency regulations, the exporters are no longer required to exhaust […]

Zimbabwe’s diamond sector is poised to “shine brighter” on the back of private capital coming on board to augment State operations. Government, through the Zimbabwe Consolidated Diamond Company (Pvt) Limited, is currently playing a near monopoly role in the production of diamonds in country. But with President Mnangagwa’s Zimbabwe’s open for business mantra, which seeks […]