News

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 […]

First Lady Auxillia Mnangagwa yesterday visited Ran Mine in Bindura to console relatives of artisanal miners trapped last Wednesday when a disused mine shaft collapsed. The First Lady brought foodstuffs that include maize-meal, rice, salt and cooking oil, among others to families who have been camped at the site since last week. The First Lady […]

PLANS by three of the country’s biggest foreign-controlled firms to invest fresh capital into their local operations represent the earliest pointers to a potential bounce back next year following a turmoil-filled 2020, researchers at IH Securities said on Monday. Swiss-headquartered foods and beverages giant, Nestle and Jersey-based Caledonia Mining Corporation have announced combined investments totalling […]

PLANS by Karo Resources (Karo) to set up a US$4,2 billion platinum mining venture and a processing plant in Darwendale after it was controversially allocated claims previously held by Zimplats are crumbling like a deck of cards after the company missed its ambitious target to construct the first of four portals by year end. After […]