News

BULAWAYO residents have expressed concern over low gold mine lease charges levied by the Bulawayo City Council (BCC) describing the move as a wasted opportunity to increase revenue streams for the local authority. According to the latest full council minutes, BCC announced that it will be leasing out some gold mines that fall under its […]

Prominent economist, Eddie Cross, has disclosed that billionaire Kudakwashe Tagwirei is no longer affiliated with the Kuvimba Mining House. This revelation came to light during an extensive interview with a private media outlet, where Cross shed light on Tagwirei’s investment journey, stating that Tagwirei utilized his earnings from Trafigura to venture into the mining giant. […]

SABI Star Mine, a US$130 million lithium operation commissioned by President Emmerson Mnangagwa in 2022, slipped into a racism storm two weeks ago, with workers approaching the Department of Immigration and the Central Intelligence Organisation (CIO) alleging serious racial discrimination. Documents seen by the Independent last week claimed Sabi Star’s Chinese human resources manager Zheng […]

ZIMBABWE’S major platinum producers are reeling under severe headwinds underpinned by plummeting prices, which have induced firms to embark on widespread retrenchments. Forecasts by the World Platinum Investment Council (WIPC) show that output in Zimbabwe, which is the third largest producer worldwide, will decline to 502 000 ounces (oz) this year, from 507 000oz in […]

The government should step in to support financially strapped miners and help cut costs by reviewing tax laws and electricity tariffs in order to prevent business closures that might lead to shortages of foreign exchange, a decline in government revenue, the loss of jobs, and a decline in GDP overall. The call is made at […]

Zambia and Zimbabwe are retendering a US$5 billion project to build a hydropower plant they previously awarded to General Electric and Power Construction of China, and expect to select new bidders by September next year, an official said. The Zambezi River Authority — a joint venture between the countries that maintains the Kariba Dam complex […]

A new special capital gains tax has been introduced where the purchaser of a mining title now has to pay a tax of 20 percent of the value of the transaction. The new law implemented through Finance Act Number 13 of 2023 and back-dated to 1 January 2014, entails a 20 percent levy on the […]

IMMINENT production at the Dinson Iron and Steel Company (Disco) plant in Manhize will spur Zimbabwe’s industrialisation and mark a significant milestone in the country’s ambitious development agenda, whose target is to create a modern and prosperous state by 2030, President Mnangagwa has said. In an interview following his tour of the Disco plant on […]