News

Resources outfit, Vast Resources says it expects to finalise its mining agreement on the Community Diamond Concession in Marange after the release of its parcel being held by the central bank. The 129 400 carats diamonds parcel has been held at the Reserve Bank of Zimbabwe for the past 12 years after Vast surrendered them […]

INVICTUS Energy, a firm hoping to make Zimbabwe’s first oil find, spent A$12,664 million (about US$8,41 million) in exploration and evaluation activities during the quarter ended June 30, 2023, NewsDay Business can reveal. In an update on its financial and operational performance for the quarter ended June 30, 2023, Invictus said it was well-funded for […]

ZIMBABWE lacks mining legislation that protects locals from exploitation, resulting in their failure to benefit from natural resources in their communities, a United States (US) official has said. Acting US embassy public affairs officer Rebecca Archer-Knepper applauded government for its “positive steps” to encourage foreign investment, which includes the formation of the Zimbabwe Investment Development […]

UK-based opportunity-driven company, Galileo Resources Plc has reported discovering key lithium sources after recent drills at Kamativi in Zimbabwe. In a recent update, the top miner said the discoveries were found over substantial widths in the first two holes with the longest running zone stretching from 28.3 meters (m) to 46.3m in hole KSDD001. The […]

London-listed Contango Holdings’ Muchesu mine in Zimbabwe was officially opened by Zimbabwe President Dr Emmerson Mnangagwa on August 1. Contango owns 70% of the Muchesu coal project (previously known as the Lubu coal project), while the balance is owned by Zimbabwean stakeholders. The project covers 19 236 ha of the highly prospective Karroo Mid Zambezi […]

GOVERNMENT’s laxity in monitoring the mining industry has precipitated widespread gold smuggling at a time when the country is targeting a US$12 billion mining industry by 2023. Authorities in Zimbabwe have been urged to combat unlawful gold trading, corruption and money laundering in the mining industry, according to the socio-justice organisation, Transparency International. Home Affairs […]

According to Johns Hopkins University academic Steve Hanke, Zimbabwe ranks as the world’s most miserable nation. Tell that, though, to the US and European shareholders in Zimbabwean gold producer Caledonia Mining, where dividends have increased sixfold in three years. This, after seven years of plugging along with a US$150 million expansion of its reassuringly named […]