News

MINER and crocodile farmer Padenga Holdings Limited (Padenga)’s operating costs rose by nearly 39% to US$63,78 million in the half year ended June 30, 2023, owing to an increase in expenditure. This led to its overall profit after tax halving. In the comparative 2022 period, operating costs were about US$46 million. Resultantly, profit after tax […]

Fidelity Gold Refiners (FGR), the country’s sole buyer and marketer of gold, has implemented a number of measures to increase production of the yellow metal as part of efforts to meet the 40 tonnes gold target this year. These include expanding the network of gold centers and agents across the nation, speeding up payments, and […]

Government says the recently launched mining claims matchmaking platform, a one-stop shop for investors to partner with mining claim holders, will be a valuable tool for promoting investment in the mining sector. The platform is a brainchild of the Zimbabwe Investment and Development Agency (Zida). Speaking at launch of the platform recently, Willard Manungo, deputy […]

KUVIMBA Mining House (KMH) has pumped US$5 million into Zimbabwe Alloys (ZimAlloys), one of the country’s biggest producers of ferrochrome, as management works round the clock to resuscitate the firm. The company has three furnaces at its Gweru smelting complex with a combined installed capacity of 120 000 tonnes per annum. “For ZimAlloys, you are […]

A PRIVATE mining company, Avoseh Investments (Pvt) (Ltd) (Avoseh) has been interdicted from mining lithium at a 25-hectare block within Sandawana Mine mining claim. This comes after Sandawana Mine, owned by Kuvimba Mining House (KMH) filed an application at the High Court seeking an interdict against Avoseh which has been carrying out mining activities on […]

Bikita Minerals shipped its first ever shipment of spodumene concentrate Sunday, the first output from a new plant commissioned in July. Global metals giant Sinomine bought Bikita last year in a US$180 million deal with African Metals Management Services and German investor Wilfried Pabst’s Southern African Metals and Minerals, the Mauritius-registered companies that held a […]

BINDURA Nickel Corporation’s (BNC) total capital expenditure stood at US$8,34 million in the year ended March 31, 2023, driven by its plan to replace old and antiquated mining machinery. The increase was from a 2022 comparative of US$6,47 million. The current old machinery led to lower production volumes resulting in a loss of US$18,48 million […]

Gold deliveries to Fidelity Gold Printers (FGP) fell 13% to 19.335 tonnes in the first eight months of this year from 22.289 tonnes in the prior comparative period. Given that the government pays within a week, it is claimed that the miners are diverting the yellow metal to alternative markets that pay instantly. The decline […]

Two years after being placed under receivership, struggling coal miner Makomo Resources has resumed operations and is now eager to supply the export market. Bulisa Mbano of Grant Thornton Zimbabwe Chartered Accountants is the lead administrator of Makomo Resources. Prior to 2021, when Makomo was placed under receivership—a form of bankruptcy protection—due to operational and […]

AUSTRALIAN energy firm Invictus Energy Limited (Invictus) has finished its rig mobilisation and assembly to begin drilling for potential oil and gas at its second Mukuyu-2 wellsite. In December 2022, Invictus ceased drilling operations at its Muzarabani oil and gas site owing to drilling gear issues. A few months later, Invictus launched a successful capital […]