News

LISTED miner RioZim Limited has withdrawn its June and July cautionary statements in which it warned of the impact of delayed gold payments, saying engagements with the central bank over the matter have been fruitful. In June and July this year, RioZim said it was owed US$2,4 million and $65,5 million by Reserve Bank of […]

…..Payment delays cited…..Gold producers to dump Fidelity Printers Zimbabwe could have lost more than US$1.8bn in the first 10 months of the year largely due to gold smuggling triggered by payment delays for the yellow metal delivered to Fidelity Printers and Refiners (FPR) and other unfavourable mining policies, estimates show. Gold miners this week said […]

Resource confirmation work ongoing at Bravura Zimbabwe (Pvt) Limited’s platinum project in Mashonaland West province, is unearthing investment compelling data that is expected to give impetus to the mining venture, mine management has said. Bravura Zimbabwe (Pvt) Limited signed a platinum mining project with the Government of Zimbabwe last year at a function that was […]

Zimbabwe’s gold export receipts tumbled 23% in the first 10 months of this year to US$697m from US$906.7m earned in the same period last year due to low deliveries amid fears of rampant smuggling as miners protested against low retention levels. Cumulative gold deliveries figure up to October 2020 fell 30% to 16.12 tonnes compared […]

Zimasco has resumed ferrochrome production after having suspended production for seven months at its plants  following a rise in global prices due to the coronavirus. The challenges were compounded by internal factors including high operating costs that made running of the furnaces unviable. Covid-19 surfaced in late 2019 in China and became a full-blown crisis […]

AFRICAN lithium developer, Prospect Resources (Prospect) has secured long lead equipment items, giving it a leeway to commence the pilot plant project at its Arcadia Lithium Mine (Arcadia) to produce high-purity petalite and spodumene samples. In a statement yesterday, the Australia Stock Exchange-listed firm said the plant would initially produce bulk samples of 500 tonnes […]

BIG players in the gold mining sector have challenged government’s monopolisation of gold sales through Fidelity Printers and Refiners, saying the law scared away investors as producers are paid the bulk of their money in local currency. Zimbabwe currently forces gold miners to sell their bullion to Fidelity. It pays them 70% in foreign currency […]

HENRIETTA Rushwaya, Stephen Tserayi, Raphios Mufandauya and Gift Karanda have been denied bail while Ali Muhammad has been freed on $100 000. Harare magistrate Mr Ngoni Nduna ruled that Rushwaya, Tserayi, Mufandauya and Karanda have connections outside the country and have means to abscond trial. Mr Nduna also said there was high risk of them […]

By Lucy Tandi MUTOKO, Zimbabwe – Despite being a global producer of black granite, there has been very little economic and social benefit to Zimbabwean mining communities who are receiving a fraction of the revenue generated in black granite mining while a significant amount generated is lost through illicit financial flows (IFFs), advocacy groups allege. […]