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Over drinks back in 2019, two British tycoons, Algy Cluff and Michael Spencer, agreed to set up a company to buy into African resources. They have explored mines in Ghana, Mali and Tanzania. Now their next target is one of Zimbabwe’s biggest lithium assets. Cluff, 84, had made money in the 1970s with an oil […]

ZIMBABWE has raked in more than US$20 billion from the export of minerals from 2018 to date, Mines and Mining Development minister Soda Zhemu said, underlining the sector as a key driver of economic growth. Speaking at the commissioning of the Kamativi Mining Company’s spodumene mine and phase one lithium flotation plant on Friday, minister […]

PICKSTONE Peerless Mine in Chegutu, which has for the past seven years operated an open pit that is nearing the end of its life span, has invested US$28 million to commission a new underground shaft to extract gold. The move to migrate to underground operations was taken after it had become unviable to continue open-cast […]

PRESIDENT Emmerson Mnangagwa last week officially commissioned the Kamativi Mine Spodumene Processing Plant. Spodumene is an ore that contains lithium. After shutting down in 1994 due to a drop in tin prices, the mine has reopened as a lithium mine. Over 1000 people, with most drawn from the local community, are employed at the mine. […]

Zimbabwe’s extractives industry holds the highest import bill, Junior Chamber of Miners Zimbabwe (JCMZ) president Brian Samuriwo revealed during a general meeting held last week in Gweru. JMCZ is a chamber of medium scale miners with a shared vision to grow and mine professional, working in collaboration with Zimbabwe School of Mines (ZSM) on issues […]

Aim- and NYSE-listed Caledonia Mining has announced that James Mufara has agreed to join the group as COO with effect from May 1, following the departure of Dana Roets from the business on February 29. Mufara previously worked for Harmony Gold Mining Company, where, as regional GM, he headed a complex portfolio of operations consisting […]

Recently, nine graves of victims who lost their lives in a mineshaft collapse during the late 1940s in Penhalonga were exhumed. Their remains were subsequently reburied at Tsvingwe Cemetery, clearing the path for new mining operations. As reported by the Manica Post, the exhumation occurred on a Wednesday. Chief Mutasa and various government officials, including acting […]

Demand for Platinum Group of Metals (PGMs) went down owing to increased substitution in the automotive and glass industries, favouring alternative metals over palladium and rhodium. “As a result, exports of PGMs witnessed a substantial decline of 36.9%, in value terms, from US$2.2 billion in 2022 to US$1.4 billion in 2023,” said Dr John Mushayavanhu, Reserve […]

Economist Gift Mugano remains steadfast in his assertion that the gold held by the Reserve Bank of Zimbabwe (RBZ) is inadequate to support the newly introduced structured currency, ZiG, even in light of anticipated forex inflows from exports, diaspora remittances, and credit, among other sources. Governor John Mushayavanhu, on Thursday, April 4th, stated that the country possesses 2.5 tonnes of […]

ZIMBABWE’s gold deliveries FY2023 plunged 14.7 percent from 35 280.1 kg delivered in 2022 to 30 106.7 kg in 2023. Presenting the 2024 Monetary Policy Statement (MPS), Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu said while gold exports benefitted from higher global prices amid safe-haven demand, they were weighed down by the more significant […]