News

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 […]

Mine workers on Friday accepted a wage deal with mining firms, putting to rest what some industry players had feared negotiations could reach a deadlock. Union leaders told The Herald Finance & Business they accepted a 22,2 percent pay increase to be backdated to January this year. This will see the lowest paid worker earning […]

PLATINUM mining group, Implats, says it is undertaking feasibility studies to set up a fourth concentrator at Zimplats ahead of envisaged increased output from Bimha Mupani mine expansion projects. The Johannesburg Stock Exchange-listed group owns Zimbabwe’s largest platinum miner, Zimplats, which is based in Mashonaland West province. Implats chief operating officer, Mr Gerhard Potgieter, said […]

The Chamber of Mines of Zimbabwe (CoMZ) has acceded to mine workers’ request for an upward review of workers’ remuneration and awarded a 22 percent increment backdated to January. The increment will see the lowest paid mine worker earning $22 000 and will be effective from the first quarter of the year. The Associated Mine Workers […]

Prospect Resources, developer of the Arcadia lithium plant near Harare, will build a smaller commercial scale pilot plant for only one of two locally available lithium varieties, because the route is a lower risk pathway to near term production. Lithium mining was designated as an integral part of the Government’s US$12 billion mining industry target […]

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 […]

AUSTRALIAN Lithium miner, Prospect Resources, says it has deferred a planned takeover of Farvic Consolidated Mines’ equity stake in Arcadia mine to the end of this year. Under the agreement inked about a year ago, Farvic will transfer its shares in the Zimbabwe-based mine to Prospect Resources. Farvic is Prospect Resources’ partner in the Arcadia […]