News

MINES and Mining Development minister Winston Chitando and his deputy Polite Kambamura will be sacked should they fail to provide minerals to back the Zimbabwe Gold (ZiG) currency, it has been revealed. This comes as Treasury is moving to designate parallel market dealings in foreign currency as money laundering and stipulate stiffer and harsher penalties […]

FEMALE miners have pleaded with the government and banks to allow them to use mining titles as collateral for loans. For years, many miners have been failing to access loans due to collateral requirements at financial institutions in Zimbabwe, which has prevented them from upscaling operations. These miners, especially women and youths, are the most […]

Zimbabwe’s only operating nickel mine was on Thursday placed under administration, according to a government notice, seven months after halting production due to equipment failure and low prices. Zimbabwe’s government owns 70% of Bindura Nickel Corporation’s Trojan Nickel Mine which employs about 1 100 people according to Bindura’s latest annual report. The reconstruction order was […]

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 […]