News

LEADING research firm Inter Horizon Securities (IH) has projected that revenue at the Victoria Falls Stock Exchange-listed Caledonia Mining Corporation will grow by 17% to US$171 million in the financial year 2024 (FY24) driven by high production and firming gold prices. In the financial year 2023, Caledonia saw a revenue of US$146 million, up 3% […]

Africa, rich in natural resources, stands at a crossroads between leveraging its abundant mineral wealth and ensuring sustainable development. The continent’s story, often told through the lens of its vast resources — from Botswana’s diamonds to the Democratic Republic of Congo’s cobalt — is a narrative of potential and caution. This article explores the intricate […]

A DIRECTOR with a mining company has been arrested and arraigned before the courts facing a charge of fraudulently transferring ownership of his late partner in the firm. The fraud case according to the State involves US$5 million. Christopher Chibwana (51) appeared before Harare magistrate Taurai Manuwere being charged with two counts of fraud and […]

MINER, Bindura Nickel Corporation Limited (BNC), has appointed Simon Masvipe as acting finance director (FD) for continuity of the business, after the resignation of a substantive head. Last month’s resignation of Masvipe’s predecessor, Believemore Hatinzwani Dirorimwe, came at a time when the firm’s operations are under threat. The miner warned in February of high domestic […]

Lithium producer Bikita Minerals has lost a case in which it had approached the High Court seeking an interdict against Aurion Resources over some lithium ore it claimed had been stolen from its mine. Bikita Minerals dragged Aurion Resources, the officer in charge ZRP CID Flora and Fauna Unit in Masvingo and the officer commanding […]

China is losing its appetite for Russian coal as import taxes and logistical snarls push Asia’s biggest buyer to cheaper alternatives. Russian exports plunged 22% in the first quarter after Beijing imposed a tax regime at the start of the year that favors some of Russia’s rivals. The higher costs have been compounded by an […]

Vice President Constantino Chiwenga has issued a stern warning to gold dealers and black market forex traders adding that strict measures will be put in place to curb leakages and exchange rate manipulation. Since the introduction of the new gold-backed currency, the government has cracked down on money changers “running down” the ZiG. As police […]

GURUVE residents have raised health fears following the contamination of their major water source, Dande River as a result of an accidental cyanide spillage at Eureka Gold Mine in Guruve Mashonaland Central province. Environmental Management Agency (EMA) spokesperson Amkela Sidange confirmed the issue in a statement. “The agency confirms carrying out an inspection at Eureka […]

Sabi Star Mine says its’ putting final touches to its US$25 million 15 MW thermal power plant and targets to fully integrate the station in the second half of this year. Currently, the Buhera-based lithium mine is running on heavy duty generators. With the rising costs of diesel and maintenance costs, Sabi Star Mine is […]