News

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]