News

CALEDONIA Mining Corporation Plc has secured exclusive rights to explore and acquire the mining claims in the gold-rich Connemara North area in Gweru as part of efforts to expand its operations. This comes after the company announced a similar arrangement at Glen Hume in the same district where airborne geophysics indicate attractive exploration targets. In […]

IGHT illegal diamond panners, among them two soldiers, reportedly fatally assaulted their colleague for allegedly swallowing the syndicate’s diamonds. The two soldiers are stationed in Chipinge. The suspects — Gift Gamunorwa (25), Samson Sazwe (29), Kudzanai Lazarus (30), Howard Tongai (32), Gift Mutowo (25), RegaiMukumbiri (25), Melusi Maseko (40) and Langton Ndlovu (27) — were […]

GOVERNMENT has banned the issuance of special mining grants in reserved areas, effectively shutting the door on prospecting in contentious areas. The announcement was made last week in an internal circular to provincial offices by the Mines ministry secretary Onesimo Moyo. He said the reserved areas are part of exclusive prospecting orders (EPOs) which are […]

International buyers and local players have established a cartel which is conniving to bleed the government of millions of dollars amid revelations there is rampant theft and illegal export of the country’s semi-precious metals, the Minerals Marketing Corporation of Zimbabwe (MMCZ) has said. The smuggling has jolted the government into action and there are now […]

Gold agent and Better Brands Jewellery (BBJ) founder Mr Scott Sakupwanya was named the most influential and innovative mining director by the Institute of Corporate Directors Zimbabwe (ICDZ) last week, while the Chartered Institute of Project Managers Zimbabwe (CIPMZ) recognised him as one of the top executives under 40. BBJ has delivered 850 kilogrammes of […]

A new mining venture, Kuvimba Mining House, which is majority-owned by the Government, will employ 20 000 workers in the short to medium term, as it ramps up investments in the mining sector in line with the renewed thrust to leverage on the sector to grow the economy. The Government holds 65 percent shareholding, while […]

New York Stock Exchange-listed resources firm, Caledonia Mining Corporation, is planning to expand its gold mining operations in Zimbabwe, undeterred by teething problems currently bedevilling the yellow metal sub-sector in the southern African country.  The total consideration is an initial payment of US$2.5m in cash, followed by a further payment of US$2.5m (payable in cash […]

An unprecedented scramble for gold claims reminiscent of that for Marange diamonds fields in Manicaland Province in the 2008-9 has gripped Zimbabwe, with a sudden spike of interest overwhelming the Ministry of Mines and Mining Development. The scramble for the precious stone has subsequently triggered massive corruption in the sector as the ministry ‘s top […]

Zimbabwe has provisionally shortlisted seven investors for a majority stake in the Zimbabwe Iron and Steel Company (Ziscosteel), Industry and Commerce Minister Dr Sekai Nzenza has said. Zisco is 91 percent owned by the Government. The remaining 9 percent is held by Louth Minerals SA (3 percent), Tonexin Investments (2,8 percent), Stewarts and Lloyds (Overseas) […]

THE Zimbabwe Stock Exchange (ZSE) says its newly-launched Victoria Falls Stock Exchange (VFEX) has generated interest from both local and foreign companies and it is working at securing more listings next year. Dubbed pan-African bourse, VFEX seeks to raise capital and drive foreign direct inflows into the Zimbabwean economy. The bourse also allows listed companies […]