News

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 […]

The Zimbabwean lithium industry has witnessed significant capital investments due to the global transition to clean energy. Lithium plays a crucial role in driving the energy transition and the mining industry’s significance in creating a sustainable future. Presenting the much anticipated 2024 Monetary Policy Statement (MPS), today, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu noted the various projects that […]

PRESIDENT Emmerson Mnangagwa yesterday inspected the Reserve Bank of Zimbabwe (RBZ) vaults with officials informing him Zimbabwe has 1.1 tonnes of gold. The tour was part of the handover of the key assets from the outgoing governor Dr John Mangudya to the incoming Dr John Mushayavanhu. The visit was aimed at taking stock of the […]

African development banks are seen as the most likely funders of Caledonia Mining Corporation’s planned $250-million gold mine in Zimbabwe, the mining company’s CEO Mark Learmonth revealed. Caledonia, which already owns the Blanket gold mine in Zimbabwe, is updating a feasibility study ahead of the planned construction of a new mine at Bilboes to produce […]

ZIMBABWE’S repayment of a US$400 million loan borrowed from the African Export and Import Bank (Afreximbank) could suffer a huge blow after the country’s major platinum miners downsized operations due to tumbling prices of the mineral also known as “white gold” on the international market. Last December, local media reported on the government’s plan to […]

THE Bulawayo High Court has authorised the eviction of 53 former employees and their families at Olympus Gold Mine after they refused to work for the new mine owner. Olympus Gold Mine (Pvt) Ltd trading as Old Nic Mine is now owned by Retinue Stars Investments (Pvt) Ltd which bought the business after it encountered […]

The Zimbabwe Miners Federation (ZMF) is gearing up to revolutionise the artisanal and small-scale mining sector with its upcoming Mining Mechanization and Symposium launch in Midlands Province on the 22nd of April 2024 at Pote Hotel in Midlands. Scheduled to take place in the heart of Zimbabwe’s mining region, the event promises to be a […]

After investing US$86 million into its mines over the past four years, Padenga Holdings is setting itself a target of 100,000 ounces of gold per year. The company’s mining arm, Dallaglio, has spent US$46 million on Guruve’s Eureka Mine, which it revived in 2021 after it had been dormant for over two decades. The company […]