News

AUSTRALIA Stock Exchange listed mining outfit, Prospect Resources said this week it had kicked off Phase 4 of its exploration programme at Step Aside in Zimbabwe after reporting ‘robust’ results at the previous stage. Sam Hosack, managing director and chief executive officer at the firm, said in a quarterly update for the period ended March […]

THE Victoria Falls Stock Exchange (VFEX) has suspended trading in miner, Bindura Nickel Corporation Limited (BNC), shares after a reconstruction order was issued against its subsidiary, Trojan Nickel Mine Limited (TNML). Justice, Legal and Parliamentary Affairs minister Ziyambi Ziyambi issued the reconstruction order in terms of section 4 of the Reconstruction of State-Indebted Insolvent Companies […]

LONDON listed metals exploration company Kavango Resources PLC latest drill and Induced Polarisation (IP) survey results have motivated the group to align operations towards the development of Western-Australia open pit gold mines in Zimbabwe. The miner began an exploration and drilling programme across its three existing projects late last year, starting with its Hillside project […]

ZIMPLATS Holdings Limited spent US$789 million during the quarter to March this year towards major capital projects, including the development of Mupani and Bimha mines upgrade as the platinum group metals miner expands operations. In its latest quarterly report, Zimplats stated that most of its projects for the period under review progressed as planned. The […]

VILLAGERS in Guruve North in Mashonaland Central province are in quandary after their main source of water, Dande River, was poisoned following a recent cyanide spillage. The worst affected areas are in wards 2, 4, 5, 6 and 18 where villagers are unsure whether the river water is safe for domestic use after the Zimbabwe […]

MINES and Mining Development minister Winston Chitando and his deputy Polite Kambamura will be sacked should they fail to provide minerals to back the Zimbabwe Gold (ZiG) currency, it has been revealed. This comes as Treasury is moving to designate parallel market dealings in foreign currency as money laundering and stipulate stiffer and harsher penalties […]

FEMALE miners have pleaded with the government and banks to allow them to use mining titles as collateral for loans. For years, many miners have been failing to access loans due to collateral requirements at financial institutions in Zimbabwe, which has prevented them from upscaling operations. These miners, especially women and youths, are the most […]

Zimbabwe’s only operating nickel mine was on Thursday placed under administration, according to a government notice, seven months after halting production due to equipment failure and low prices. Zimbabwe’s government owns 70% of Bindura Nickel Corporation’s Trojan Nickel Mine which employs about 1 100 people according to Bindura’s latest annual report. The reconstruction order was […]

LEADING research firm Inter Horizon Securities (IH) has projected that revenue at the Victoria Falls Stock Exchange-listed Caledonia Mining Corporation will grow by 17% to US$171 million in the financial year 2024 (FY24) driven by high production and firming gold prices. In the financial year 2023, Caledonia saw a revenue of US$146 million, up 3% […]