News

CHINESE companies were awarded licenses in the third quarter that could see $2.79 billion of investment flow into Zimbabwe, mostly in mining and energy as the government pushes to develop some of Africa’s biggest lithium deposits and end power outages. Chinese applications “were the most by number and investment value with mining being their most […]

MINING companies in Zimbabwe have spent over US$1,5 billion on capital projects and exploration activities in the past three years, a survey report by the Chamber of Mines of Zimbabwe (CoMZ) shows. The report also revealed that in the next 12 months, mining firms require around US$2 billion to ramp up and sustain their operations. […]

ZIMBABWE’S mineral revenue declined by 29% to US$2,6 billion in the first half of this year due to a number of challenges including softening commodity prices, foreign currency shortfalls, high-cost structure and capital constraints. This was revealed by Chamber of Mines of Zimbabwe (CoMZ) president Thomas Gono at the Mining Industry Suppliers Forum held in […]

PROSPECT Resources Limited has commenced Phase 3 drilling programme at Step Aside Lithium Project near Harare, targeting significant strike and depth extensions of high-grade lithium mineralisation. In a quarterly activities report for the quarter ended September 30, 2023, Prospect managing director and chief executive officer, Sam Hosack said the quarter concluded with substantial advancements in […]

Invictus Energy said it has reached the total depth following exploration of the second well which has shown additional zones of strong gas and fluorescence. Invictus is an independent upstream oil and gas company headquartered and listed on the Australian Securities Exchange with offices in Harare. The energy company is embarking on the first oil […]

Africa’s top lithium producer, Zimbabwe hopes demand for the mineral, which is key for renewable energy storage, will help revive its ailing economy. Lithium is set to become Zimbabwe’s third biggest mineral export after gold and platinum group metals, which registered $2.46-billion and $2.27-billion in export receipts last year. “The revenue generated from the export […]

Zimbabwe should invest in the exploration of minerals which are critical in attracting long-term investments for economic development, Mines minister Zhemu Soda said yesterday. Speaking at a School of Mines’ lithium and battery minerals conference held on the sidelines of Mine Entra, Soda said Zimbabwe was under-explored in the mining sector. “Our country can boost […]

PLATINUM miner Zimplats Holdings Limited spent US$516 million during the quarter to September this year on major capital projects, including the development of Mupani Mine and Bimha Mine upgrade. In its latest quarterly report, Zimplats stated that most of its projects for the period under review progressed as planned. The firm spent US$341 million on […]

ZIMBABWE Miners Federation (ZMF) president Henrietta Rushwaya has been convicted for trying to smuggle 6kg of gold out of Zimbabwe through Robert Gabriel Mugabe International Airport in 2020. High Court judge Justice Pisirayi Kwenda yesterday convicted Rushwaya (56) and remanded her in custody to November 10, 2023 for sentencing. Rushwaya was accused of trying to […]

A coking coal project that started production in Zimbabwe this year could be sold to a larger investor, reflecting strong demand for the coal used by steel manufacturers. Contango, listed in London, says it has opened talks for a potential acquisition of the Muchesu project, which began production in May and exported its first coking […]