News

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 […]

Coal-mining firm Makomo Resources has reportedly verbally terminated its workers’ contracts following a disagreement over unpaid two-months’ salaries. Workers who spoke on condition of anonymity said they were last paid in October. The lowest-paid worker earns about Z$20 000 per month. About 400 workers reportedly staged a sit-in on Tuesday after the company decided to […]

AFRICAN lithium developer, Prospect Resources Ltd (Prospect), which is spearheading the Arcadia Lithium project, has been accepted into the European Raw Material Alliance (ERMA) as a primary raw material partner. ERMA is a new initiative to increase raw material resilience for a greener Europe. The initiative aims to make Europe economically more resilient by diversifying […]

AIM-listed Vast Resources, which has operations in Zimbabwe and Romania, has raised £4,8 million through a placing of almost 400 million ordinary shares of 0,1p at a price of 0,132p. In a statement, the company revealed that the previously announced detailed term sheet with an international bank had been agreed between the bank’s executive team […]

Zimbabwe’s gold deliveries fell 29.2% to 17.59 tonnes during the 11 months of 2020 from 24.88 tonnes recorded during the same period as payments delays fuel smuggling of the yellow metal. The dip in deliveries of gold will affect Zimbabwe’s foreign currency earnings as the yellow metal accounts for more than a third of total […]

Invictus Energy, the Australia listed firm exploring for oil and gas in Muzarabani, has completed field work to map out sites to gather earth crust vibrations that can pinpoint exact locations of oil or gas deposits. According to the company, the ongoing exploration studies are the first such exercise in 30 years, since the not […]

The Zimbabwe government has reduced corporate tax for miners by one percentage point to 24% to enable resources companies achieve acceptable returns from their investments, reduce costs and ensure optimal exploitation of minerals, Finance Minister Mthuli Ncube said Monday. Speaking at a post-budget meeting in the capital, Ncube, said the government had for a many […]

Zimbabwe is deemed to be very attractive among other African countries by mining investors on the back of its geological potential. The country is endowed with vast mineral resources ranging from gold, platinum, diamonds and chrome among others. This falls well into the country’s agenda of achieving a US$12 billion revenue sector by 2023. According […]