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RESOURCES outfit, Caledonia Mining Corporation said on Tuesday achieving its targeted production of 80 000 ounces (oz) of gold next year might not be guaranteed as a range of factors would have to be considered after commissioning Central Shaft this quarter. In an exclusive interview with NewsDay Business, Caledonia chief financial officer (CFO) Mark Learmonth […]

AIM and New York Stock Exchange-listed Caledonia Mining Corporation produced a record 57 899 ounces (oz) of gold at its Zimbabwe-based Blanket Mine in 2020, representing a 5% growth on the prior comparable period in 2019. The firm also met the top end of its revised increased guidance for the year.Caledonia had its guidance set […]

IN 2019, the Government launched a roadmap to grow the mining sector to US$12 billion by 2023 through leveraging on the country’s diverse mineral wealth. Some critics described the plan as over-ambitious as it was likely to be stymied by lack of foreign direct investment, inefficient utilities, poor transportation, particularly rail, and lack of skills […]

Zimbabwe should brace for a dry year as the coronavirus pandemic enters its deadliest phase yet, hitting the mining sector, one of the country’s leading forex earners, players in the mining sector warned this week. They project gold’s export receipts to fall further this year. Last year, earnings fell 16% to US$891.5m from US$1.064.5bn recorded […]

A NUMBER of investors from Israel have expressed interest in investing in Zimbabwe’s diamond sector, with some of them keen on setting up a massive cutting and polishing plant in the country. Under Government’s Economic Diplomacy thrust, President Mnangagwa appointed Mr Ronny Levi Musan as Honorary Consul to Israel and the envoy has already hit […]

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 […]