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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 […]

MINERS have been encouraged to invest in digital mining to streamline processes, a move that will boost efficiency, productivity, safety and sustainability, NewsDay Business can report. Digital mining involves leveraging on digital technologies such as automation, artificial intelligence and the internet of things (IoT), to improve efficiency, productivity, safety and sustainability, a move that is […]

THE government’s gold mobilisation unit has been unable to function due to funding constraints and this is crippling its operations. The gold mobilisation unit, headed by Major-General Chris Mupande, comprises officials from the army, police, Central Intelligence Organisation (CIO) and Ministry of Mines and Mining Development. The unit was set up to boost gold production, […]

A SAFETY, health and environment (SHE) committee of the Chamber of Mines of Zimbabwe has indicated that more audits will be done at mining firms to reduce accidents in the sector. According to the chamber, the mining industry reported 110 fatal accidents from January to July 2023, compared to 106 fatal accidents during the same […]

ZIMBABWE’S current power crisis is crippling industries, as it emerged this week that some companies have scaled down operations, while others are considering job layoffs. There is a severe electricity shortage, with consumers and industry enduring 16-hour power outages per day. Energy minister Edgar Moyo on Wednesday told Parliament that the electricity cuts would continue […]

GOLD miner Caledonia Mining Corporation Plc (CMC) had a 95% drop in profit after tax to US$1,69 million in the nine months ended September 30, 2023, owing to increased production costs and expenses. The drop was from a 2022 comparative profit after tax of US$31,19 million. In a statement accompanying its third quarter and nine […]

ZIMBABWE Miners Federation (ZMF) president, Henrietta Rushwaya has escaped jail after she was fined and given a wholly suspended sentence following her conviction for attempting to smuggle gold worth US$330 000 to Dubai. High Court judge, Justice Pisirayi Kwenda fined her US$5 000 and gave a wholly suspended 18 months jail term. In addition, the […]