News

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 […]

CHIEFS from Midlands province Sunday listed their expectations from Kuvimba Mining House (KMH)’s Sandawana Lithium mine in Mberengwa, stating that the resource should benefit the community first before the nation. Through their chairperson, chief Ngungumbane born Zama Mkhwananzi the chiefs said KMH now has their blessing to mine lithium after it arranged a stakeholder meeting […]

Zimbabwe’s formal mines added over 50,000 new jobs in 2022 as the industry benefitted from expansion and new projects, according to the Chamber of Mines. Dave Matyanga, chief economist for the Chamber, which represents the country’s biggest mines, says new investments in Zimbabwe mining last year saw an increase in employment figures. “The mining sector […]

THE price of metals, like nickel and aluminium, have plunged drastically from recent record highs, sending shock waves into the country’s mining industry. Experts said this week the outlook was uncertain. Against a backdrop of soaring overheads, executives predicted tougher times ahead, warning this will trigger viability challenges in the sector. In an interview, the […]

PLATINUM miner Zimplats Holdings Limited has reported a 23% decrease in revenue to US$962,3 million in the year ended June 30, 2023, owing to softer metal prices during the period. In the comparative 2022 period, Zimplats had revenue of US$1,2 billion. The weaker metal price is owing to lower demand for the end products derived […]

MIMOSA Mining Company (Mimosa) says six elements (6E) in concentrate volumes declined by 1% to 245 000 ounces during the financial year ended June 30, 2023 (FY23) due to severe load-shedding, among other challenges. 6E includes platinum, palladium, rhodium, gold, ruthenium and iridium. Mimosa is jointly owned by Impala Platinum Holdings (Implats) and Sibanye Stillwater. […]

RESOURCE outfit Premier African Minerals (Premier) seeks to raise £4 million (US$5,03 million) before expenses, through placement and direct subscription for the ongoing Zulu lithium and tantalum project pilot optimisation. According to a shareholder update, Premier on August 25, 2023 issued by way of a placing and direct subscription, 1 142 857 143 new ordinary […]