News

Gold deliveries to the country’s sole buyer Fidelity Printers and Refiners (FPR) are expected to plunge 35% this year due to increased smuggling and the negative impact of the Covid-19 pandemic. Gold is the country’s single largest generator of foreign currency and, resultantly, inflow of foreign currency into the country is expected to take a […]

THE Government has allocated $1, 4 billion to the Ministry of Mines and Mining Development as it seeks to better coordinate the envisaged growth expected in the mining sector in 2021. Presenting the 2021 National Budget, Finance and Economic Development Minister Professor Mthuli Ncube, said the mining sector is projected to rebound by 11 percent […]

By Business Reporter – Thursday 26 November 2020 HARARE – The revival of Ziscosteel is key to the economy through its potential benefits in job creation and value chain impact in companies such National Railways of Zimbabwe and Hwange Colliery and the resultant savings in foreign currency in excess of US$1 billion through importation of […]

Zimbabwe will in February adopt the free-on-board (FOB) and cost, insurance and freight (CIF) arrangements in selling minerals and metals , dumping the ex-works system as it moves to make miners realise more from minerals and metals. Under the current ex-works marketing basis, miners sell their minerals and metals to buyers at the mine. But, […]

By Farai Maguwu – Own Correspondent MUTARE – 12 ZIMBABWEAN artisanal gold miners could have been murdered by an unnamed Belarus company, which subcontracted a Chinese company, Zhondin Investments, at Premier Estate outside Mutare. Only 2 bodies have been recovered and no rescue efforts are underway to recover the 10 missing artisanal miners. Authorities first […]

More than $1.5 billion of gold is smuggled out of Zimbabwe every year, depriving the cash-strapped economy of crucial foreign-exchange revenues, according to research organization International Crisis Group. The gold is illegally shipped from the southern African nation’s small-scale mines, often to the bullion-trading hub of Dubai, ICG said in a report Tuesday. Some of […]

A NASTY fight for mining rights has erupted over gold mining claims in Umfurudzi Game Park where violence is said to be the order of the day between machete-wielding Zanu PF youths from rival camps. It is alleged that the youths have turned the game park into a battleground as they jostle to lay hands […]

The National Development Strategy 1 (NDS1), the Government’s newly announced economic blueprint covering the period 2021 to 2025, aims to drive the beneficiation of five key minerals during its five-year period in order to enhance socio-economic development. NDS1, which was launched by President Mnangagwa on Monday, last week, will target beneficiation of key minerals gold; […]

Listed mining company RioZim has won a Supreme Court battle with Zimbabwe’s military after one of its mines was forcibly taken over through a ministerial decree. Defence minister Oppah Muchinguri-Kashiri declared a portion of the company’s chrome mining concessions in the Darwendale area a military zone in 2018, before the military handed over the land […]

The Mining and Minerals bill is still in the drafting stage and in that process, all key stakeholders’ representatives have been involved, the Parliamentary Portfolio Committee on Mines and Mining Development is now looking forward to an all stakeholder conference that will broadly incorporate all stakeholders, the Committee chairperson Edmund Mkaratigwa has said. The Mines […]