News

AFTER years of subdued production, local cement manufacturers are now exceeding local demand, Cabinet has revealed. Some 2.6 million tonnes of cement are now being locally produced against a demand of 1.6 million as stated by Industry Minister Sithembiso Nyoni. The remainder is now being stocked by Zimbabwe’s four main producers including PPC Zimbabwe, Khaya […]

PROSPECT Lithium Zimbabwe (PLZ) has refurbished the Chinyika 3 Dam spillway in Goromonzi district, Mashonaland East province to address water shortages in the area. The raised spillway is expected to harvest an additional 1 500 megalitres of water to ensure adequate water supplies for local communities, farmers and PLZ operations. “Prospect Lithium Zimbabwe acknowledges the […]

Mimosa Mine is retrenching 33 managers and abandoning a key expansion project, in the latest damaging response by platinum producers to falling global metal prices. The company says platinum prices fell by 35% since April last year, hitting its cash flows and profits. “The outlook is that the prices will remain depressed in the medium […]

HORTICULTURE farmers in Goromonzi have accused the Platinum Lithium Zimbabwe (PLZ) mine of negatively affecting their socio-economic life, while others have welcomed the miner’s activities in the area. Speaking during a public meeting organised by Vendors Initiative for Social and Economic Transformation (VISET) at Yafeli Village, in Ward 17, the farmers said the mine’s activities […]

AUSTRALIAN energy firm Invictus Energy Limited says a fluid sample analysis has confirmed high quality natural gas at the Mukuyu gas field containing minimal impurities which will require minimal processing before sale to downstream customers. The energy firm declared two material discoveries after recovering 15 downhole gas and gas-condensate samples from both the Upper and […]

Increased operating costs for 2023 and several significant one-off, non-operating costs in the final quarter resulted in reduced profit for the full year, Victoria Falls Stock Exchange-listed Caledonia Mining Corporation has said. The company expects to report an adjusted profit before tax for the year ended December 31, 2023 materially below market expectations. In its […]

THE World Bank Group (WB) says Zimbabwe needs to modernise its mining laws and introduce a competitive licensing regime offering improved security of tenure and sanctity of contract. The current legislative framework for mining under the existing Mines and Minerals Act [Chapter 21:05] dating back to 1983 has become antiquated and out of touch with […]