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Finance Minister Mthuli Ncube has told Parliament that government’s US$4.5 billion valuation of Kuvimba Mining House is justified. The government loaned the Mutapa Investment Fund US$1.6 billion to buy a 35% stake in Kuvimba. That transaction implies a US$4.5 billion valuation for the mining company. The 35% stake was reportedly held by a “management consortium”, […]

PLATINUM output from Zimbabwe is forecast to remain stable this year as the global demand is seen growing 3% to +226koz( thousand ounces), NewsDay Business can report. This is coming at a time when the Exchange Traded Funds (ETFs) holdings are expected to remain net positive while Chinese large bar sales are seen growing. A […]

Oscar Nkala travels to Hwange in north-western Zimbabwe to expose the environmental and health hazards caused by more than a century of coal mining For Amon Chibuswa, the sun setting over Dinde village signifies more than the coming of the Sabbath, a ritual still observed in the small settlement about 40km east of Hwange, Zimbabwe’s […]

AN investigation into illicit gold mining has uncovered how one of the accused obtained a fraudulent identity document, 12 years after arriving in South Africa. The home affairs officer probing the case found that Leon Magwaca, real name, James Sigauke, had been issued with the fake ID at the home affairs office in Carletonville, on […]

DOROTHY Moyo says a prayer every time she walks, runs or drives around her neighbourhood in central Zimbabwe – afraid that the earth will give away from beneath her feet, dragging her underground. The 36-year-old’s fear is not uncommon among the hundreds of families living in the Globe and Phoenix community, a mining compound in […]

Energy company Grid Africa says it has agreed a deal with a group of miners in Zimbabwe to build 72MW of solar for their operations. Zimbabwean miners are desperate for alternative energy to power up new projects and expansion, at a time when power utility ZESA is failing to meet demand. “Grid Africa has successfully […]

A CHINESE firm, Ronchelle Private Limited, embroiled in a dispute with Norton residents over the planned rezoning of residential land into a mining site, made a surprising shift in its strategy last week. The company announced plans to establish a rhino board manufacturing facility near the Knowe suburb, a significant departure from its initial proposal […]

ZIMBABWE’S mining title management systems, long plagued by double allocations and disputes, are set to undergo significant modernisation, with 90% of the system expected to be computerised by December, according to Polite Kambamura, Mines and Mining Development deputy minister. The completion of this automation programme will be a major milestone in Zimbabwe’s broader plan to […]