News

THE launch of the new Zimbabwe Gold (ZiG) currency has raised debate, with analysts urging the authorities to adopt advanced technology in monitoring gold production to reduce mineral leakages and illicit financial flows, while ramping up bullion reserves. On 5 April, new Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu launched the ZiG currency, that […]

RESERVE Bank of Zimbabwe (RBZ) governor John Mushayavanhu yesterday said the apex bank was still consulting on the possibility of fuel being sold in the Zimbabwe Gold (ZiG) currency. Stakeholders have been calling on authorities to ensure fuel and other services are paid for in ZiG to boost confidence in the new currency. Mushayavanhu yesterday […]

Invictus Energy has signed a Memorandum of Understanding with gold producer Dallaglio that could see energy company Himoinsa building a gas-to-power plant to supply the Eureka Gold Mine. Under the MoU, Himoinsa would build a 12MW power plant for Eureka, which can be scaled up to 50MW. “Following recent confirmation of the Mukuyu gas-condensate discovery […]

INTEGRATED resource concern Tharisa Minerals says the Zimbabwe-based platinum project is progressing well on the back of the company’s sound performance which is expected to continue. Operationally the top miner performed well, building on a record first quarter and on track to meet guidance. Most pleasing is the continued trend in our improved safety record […]

Lithium producer Prospect Lithium Zimbabwe (PLZ) has announced plans to construct a state-of-the-art lithium sulphate plant in a show of commitment to the country’s sustainable growth plans. PLZ celebrated its second anniversary through a grand event under the banner: Adapting and Thriving: Celebrating 2 Years of Growth and Resilience in the Lithium Industry on Saturday […]

Prospect Lithium Zimbabwe plans to set up a lithium sulphate plant to comply with local processing rules, despite falling prices slowing down investment globally. Huayou Cobalt, one of the world’s biggest miners, bought the mine in 2021 from Australian-listed Prospect Resources. The company produced about 280,000 ounces of lithium concentrate in 2023, but plans to […]

ZIMBABWE’S mineral exports are expected to decline further this year due to global headwinds, according to the World Bank (WB), with production inefficiencies in iron and steel weakening export competitiveness to the European Union (EU). The country’s export proceeds fell by 16,90% to US$6,04 billion in 2023 compared to the previous year, largely weighed down […]

Former Reserve Bank of Zimbabwe (RBZ) Governor Gideon Gono has responded to allegations raised by ZANU PF national spokesman, Chris Mutsvangwa, that a former central bank governor facilitated the “theft” of the country’s gold by Arabs. During a press briefing in Harare on Monday, Mutsvangwa claimed that Zimbabwe’s gold reserves were taken out of the […]

GALPEX mine which is one of the major culprits of damaging the Deka road has been ordered to resume operation only after the company had resuscitated the road. The road which was destroyed by mining activities had become a danger to most motorists who use it. The Minister of State for Matebeleland North Provincial Affairs […]

THE commissioning of Kamativi Mining Company (KMC) is a significant step in Zimbabwe’s development of its lithium mining sector, President Mnangagwa has said. The commissioning of the Kama- tivi Mining Company’s spodumene mine and Phase 1 processing plant is expected to bolster the country’s economic growth and contribute to the development of its lithium industry. […]