News

ZIMBABWE is sitting on huge amounts of methane gas discovered in Lubimbi area, Lupane, Matabeleland North province but has over the years failed to secure an investor to kick-start the project. Opposition legislator Thokozani Khupe told the deputy Speaker Tsitsi Gezi this Tuesday that the methane gas in Lupane – Lubimbi area has a capacity […]

Sixteen years after it shut down its furnaces, one of Zimbabwe’s biggest ferrochrome producers, ZimAlloys, is finally back in production. The Gweru company has fired up the first of its three furnaces for the first time in years. Now, it is investing US$45 million to restart two other furnaces and reach annual annual ferrochrome output […]

Gold deliveries have spiked 37 % to 3.4 tonnes in the month of August from 2.479 tonnes delivered in the prior comparative period, Business Times can report. This was confirmed by Fidelity Gold Refinery (FGR) general manager, Peter Magaramombe. “Miners are delivering good numbers to FGR owing to favourable conditions on the ground and timeous […]

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 […]