News

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 […]

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 […]