432 views
FEATURED
Mining Index Zimbabwe
- February 28, 2024
432 views 3 mins

Weak metal prices have dragged Zimbabwe’s biggest platinum producer into a rare loss, reflecting the worsening pressure that miners are under. The company reported on Tuesday that it increased output by 9% and boosted sales by 10% to 320 196 ounces in the six months to December. But this was not enough to offset the […]

400 views
FEATURED
Mining Index Zimbabwe
- February 27, 2024
400 views 7 mins

Many of the world’s biggest nickel mines are facing an increasingly bleak future as they wake up to an existential threat: a near limitless supply of low-cost metal from Indonesia. With roughly half of all nickel operations unprofitable at recent prices, the bosses of the largest mining companies last week sounded a warning that there […]

84 views
FEATURED
Mining Index Zimbabwe
- February 27, 2024
84 views 5 mins

Listed miner, Bindura Nickel Corporation (BNC) recorded a subdued performance during the nine months to December 31 2023 following the decline in high-grade resource footprint and the low international commodity prices. The company’s poor performance was exacerbated by the prevailing economic headwinds and the depletion of high grade ore. In a trading update, BNC finance […]

420 views
FEATURED
Mining Index Zimbabwe
- February 27, 2024
420 views 54 secs

Sandawana Mines, a subsidiary of Kuvimba Mining House, says about 300 workers have been let go as a result of falling price of lithium on the international market, it has been learnt. This was confirmed by Sandawana Mines general manager Godwin Gambiza who said the resources firm had to take cost-cutting measures “to protect the […]

200 views
FEATURED
Mining Index Zimbabwe
- February 27, 2024
200 views 6 mins

The government is shutting down three thermal power stations, with a combined installed capacity of 240MW, because they have become too old and costly to run. According to Energy Minister Edgar Moyo: “At an average age of 75 years, the thermal plants significantly exceed their intended lifespan of 25 years, and operating them has become […]

283 views
FEATURED
Mining Index Zimbabwe
- February 27, 2024
283 views 4 mins

Anglo American Platinum (Amplats) has initiated a retrenchment consulting process that may result in more than 4 000 jobs being lost. The miner, along with its counterparts, are currently battling a downturn in metal prices as well as SA constraints, including ports and electricity. Amplats also reported on Monday that its profits fell more than […]

218 views
FEATURED
Mining Index Zimbabwe
- November 22, 2023
218 views 4 mins

AUSTRALIAN energy firm, Invictus Energy Limited, has recovered hydrocarbons at its second drill site in north-east of Zimbabwe, indicating further natural gas and oil deposits. The second drilling site, called Mukuyu-2, was identified after previous machine breakdowns last December, forced the company to abandon its drilling efforts at its first identified drilling site, Mukuyu-1. The […]

329 views
FEATURED
Mining Index Zimbabwe
- November 22, 2023
329 views 4 mins

Members of Parliament have piled pressure on the government to crack down on mining companies that are reluctant to fulfil their Corporate Social Responsibility (CSR) obligations to communities in which they operate. In recent years, there has been growing concern about the impact of mining on local communities with many communities have complained that they […]

213 views
FEATURED
Mining Index Zimbabwe
- November 21, 2023
213 views 3 mins

Small-scale miners are facing challenges in maintaining the value of their hard-earned money due to the discrepancy between the US dollar and Zimbabwean dollar (ZWL) exchange rates. The issue was raised by Zanu PF’s Gokwe Kumbuyani MP Spencer Tshuma, who revealed that banks were shortchanging small-scale miners seeking to buy the country’s gold-backed digital token […]

263 views
FEATURED
Mining Index Zimbabwe
- November 21, 2023
263 views 3 mins

Zimbabwean government is facing calls to enforce its gold pricing policy after allegations emerged that private players are purchasing the yellow metal at higher prices than the State-set rate. The allegations were raised by Shamva South Member of Parliament (MP) Joseph Mapiki, during a Question and Answer session on Wednesday. Mapiki asked the Minister of […]