News

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 […]

CHROME mining and smelting company, Zimasco Private Limited, has spent US$134 000 on corporate social responsibility projects as part of its mandate to give back to the community. The company has partnered Kwekwe City Council in the fight against Covid-19. It has also bought a refuse compactor for the local authority, which is expected to […]

THE Reserve Bank of Zimbabwe (RBZ) plans to unbundle its gold buying and minting subsidiary, Fidelity Printers and Refiners, into two entities and divest out of mining firm, Tuli Coal (Pvt) Limited. Under the framework Fidelity Printers will be split into two business units — gold refining and printing and minting. The apex bank has […]

STANBIC Bank Zimbabwe’s parent company, Standard Bank Group, has published its “Fossil Fuels Financing Policy” as part of efforts to improve management of environmental, social and governance (ESG) risks, and contributing to the sustainable development of Africa. The move follows the adoption in 2019 of policies on lending to coal-fired power projects and coal mining […]

THE fact that Zimbabwe is ranked fifth among the largest producers of lithium, with only a single active mine, speaks volumes about the Southern African country’s potential. The country possesses unlimited potential to a higher position among the leading producers of lithium globally considering the litany of advancing Greenfield projects in the country. Its potential […]

Government will next year capitalise and operationalise the Mining Promotion Company to facilitate exploration that will give a scientific assessment of the country’s mineral resource endowment. Mines and Mining Development Deputy Minister Polite Kambamura revealed the plans in an interview with The Sunday Mail Business after the ministry was allocated $1, 4 billion in the […]

The battle between the Chivi community and Murowa Diamond Company over the firm’s exploration activities in Sese has taken a new twist after villagers resolved to seek an eviction order to forcibly move the gem extractor from the premises of a local secondary school. Murowa and the Sese community, under the Sese Community Trust (SCT) […]

THE STATE has cast doubt on the authenticity of suspension orders served on two police officers, Superintendent Douglas Shoko and Detective Chief Inspector Paul Chimhungu, in custody on suspicion of tampering with evidence in Henrietta Rushwaya’s alleged gold smuggling case. Shoko and Chimhungu claimed in court that they were served with suspension orders while in […]