News

HWANGE Colliery Company Limited (HCCL) remains under administration and on Zimbabwe Stock Exchange (ZSE) suspension, the concern’s management revealed Monday. The coal miner was placed on suspension after government which owns 38% of Hwange moved to place the firm under administration. ZSE announced that the miner will be suspended for the entire duration of the […]

AUSTRALIAN energy firm Invictus Energy Limited (Invictus) says it has exceeded its initial AU$5 million (US$3,3 million) target under an AU$10 million (US$6,7 million) capital raising initiative to fund further exploration programmes north-east of Zimbabwe. In December 2022, Invictus ceased drilling operations at its Muzarabani oil and gas dig site owing to issues with its […]

THE Chamber of Mines of Zimbabwe (CoMZ) will hold its annual general meeting (AGM) and conference in Victoria Falls from May 30 to June 2, 2023. CoMZ chief executive officer Isaac Kwesu (IK said for the first time, there will be a lithium symposium on the sidelines of the main conference running under the theme […]

Vast Resources has revealed intentions to expand its debt facility with Mercuria and Alpha Extension allows company to finalize recovery of historic parcel of diamonds in Zimbabwe Asset-backed debt facilities carry risks, including the potential seizure of collateral if the borrower defaults on the loan. Vast Resources plc, an AIM-listed mining company, has announced plans […]

Total coal production increased by 92% Production volumes of Hwange Power Station coal increased to 494 820 tonnes Total tonnes sold for the 3 months increased from 683 896 to 1 064 014 tonnes Harare- Extractor and distributor of coal and coal-related products, Hwange Colliery Company Limited has recorded a 92.7% increase in coal mined during […]

PLATINUM output at Unki Mine rose by 17% during the first quarter ended March 31, 2023 to 62 500 ounces due to improved plant stability, financial statements for the review period showed this week. Unki is a unit of Johannesburg Stock Exchange listed Anglo American Platinum (AngloPlat), one of the world’s biggest platinum group metals […]

The world platinum industry expects a shortage of the metal this year – and that is good news for Zimbabwean producers, who are currently expanding operations. There will be a platinum deficit of 983,000 ounces in 2023, according to a new report by the World Platinum Investment Council (WPIC), which represents the world’s leading producers. […]

AUSTRALIA-HEADQUARTERED Invictus Energy has awarded Polaris Natural Resource Development a contract to provide 2D seismic acquisition services for its phase two exploration campaign in the Cabora Bassa Basin. Polaris is Canada’s longest standing seismic company and has conducted over 1 200 seismic projects since 1996. Invictus recently confirmed the presence of “light oil, gas-condensate and […]

UK miner Vast Resources says it is finalising the recovery of a parcel of 129,400-carats of rough diamonds in Zimbabwe after a 12-year dispute. The company successfully sued the country’s Mines and Mining Development ministry early this year and now plans to sell the diamonds through a tender. It surrendered gems from the Marange diamond […]