News

The Centre for Natural Resource Governance (CNRG) notes with concern a developing criminal case against five accomplices accused of stealing diamonds during a routine sale transaction at the RGM International Airport. This incident, reported by local media, reveals glaring governance and oversight loopholes in the sale of diamonds by a leading diamond mining company Anjin […]

A LOCAL investor BER–Pig Iron and Steel Company (BPISC) has invested US$43,8 million to establish an iron ore processing plant in Redcliff, Midlands province. The company will run under a local consortium Berhard Development Corporation (PVT) Limited. Speaking on the sidelines of a business expo held in Kwekwe recently, BPISC chief executive Bernard Mutanga said […]

GROSS profit at the Victoria Falls Stock Exchange-listed Caledonia Mining Corporation more than doubled to US$13,8 million in the first quarter of this year due to higher gold revenue and lower production costs. Last year in the same period, profit stood at US$5,8 million. The mining giant produced 17 476 ounces of gold in the […]

Padenga Holdings Limited, is on track to increase gold production while also achieving its 2024/25 crocodile skin contract volumes. The expected increase in gold production and fulfilling its crocodile skin contract volumes is set to leave the firm with increased foreign currency earnings, the company said. In its trading update for the first quarter of […]

FIVE suspected diamond thieves went on a spending spree and one of them lost US$2 000 of his share at a soccer bet in Harare. This emerged at the Harare Magistrates Court yesterday when the suspects appeared before Harare Provincial Magistrate Apollonia Marutya yesterday. Marutya remanded the suspects Silas Chirume (54), Edward Jacob Gunda (62), […]

RESOURCES concern RioZim Limited is redirecting its focus to find alternative power sources in a bid to stabilise production and bring the group out of its loss-making position. The strategy comes as the group saw an 870% increase in cost of sales to ZWL$190,68 billion in the year ended December 31, 2023, from a 2022 […]

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 […]