News

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 […]

VAST Resources chief executive officer Andrew Prelea is in the country as the London-based firm finalises the recovery of its historic parcel of 129 400 rough diamonds held in safe custody at the central bank. Vast, a multi-resource operation, surrendered the gems as evidence that it had exploited diamonds on claims previously owned by DeBeers. […]

GROSS revenues at the Victoria Falls Stock Exchange-listed Caledonia Mining Corporation fell by 16% to US$29,4 million during the first quarter of this year due to lower production and higher costs at its flagship operation, Blanket Mine. Last year in the same period, income stood at US$35,1 million. “The first quarter of 2023 presented several […]

The Hwange Thermal Power Station Unit 8 is set to be synchronised today Tuesday, 16 May 2023, with tests underway to ensure that the process is undertaken successfully. Unit 8 is expected to add another 300 megawatts to the national grid once fully operational. The planned synchronisation of Unit 8 comes a few months after […]

The opposition Citizens’ Coalition for Change (CCC) has criticised Speaker of the National Assembly Jacob Mudenda for rejecting a proposal by the Public Accounts and the Budget, Finance, and Economic Development committees to investigate allegations raised in the Gold Mafia documentary which was premiered by Al Jazeera recently. In a statement, CCC said Mudenda’s decision […]