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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 […]

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 […]