News

The Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) has directed financial institutions to unfreeze all the accounts and other financial assets belonging to individuals who were implicated in alleged smuggling and money laundering by Al Jazeera’s documentary series that was premiered in March and April this year. The central bank said it froze the […]

Chinese-owned lithium producer, Bikita Minerals Sinomine, has temporarily suspended operations over failure to comply with some requirements particularly the regularisation of expatriate staff and skills transfer to locals. The mine will cease works for seven days to comply with Government mining regulations. In a notice to stakeholders, mine manager David Mwanza said that during the […]

THE Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) yesterday made a summersault by reversing its order for banks to freeze accounts of several government officials and individuals who were implicated in gold smuggling gold and money laundering activities exposed by the Al Jazeera documentary. In a statement yesterday, the FIU directed financial institutions […]

UK-listed Kavango Resources says it is in the late stages of discussions over a potential two-year option to acquire a gold exploration and development project in Zimbabwe as well as separate talks for an equity investment. The mining company said the project area in Zimbabwe covers a number of contiguous gold claims over a 3.4-kilometre […]

ZIMBABWE is targeting to generate US$3 billion from Platinum Group Metals (PGMs) this year, an increase of 36% compared to last year, a government official said. PGMs are essential and precious metals, which include platinum, palladium, rhodium, iridium, osmium and ruthenium. They are used in several industrial processes, technologies and commercial applications. Zimbabwe is the […]

STATE-run resources firm Kuvimba Mining House (KMH) has been given a Cabinet approval to sell Ziscosteel’s vast iron ore reserves worth about US$500 million, officials said this week. The government holds 65% shareholding in the firm. KMH has injected US$1 million into the firm under a revitalisation plan entered with government in 2022. Ziscosteel has […]

THE government has directed an arms manufacturing company controlled by the Zimbabwe National Army to halt lithium exports after unearthing explosive corruption linking its senior officials to illegal exports. There was outrage over government’s decision to grant the army’s Zimbabwe Defence Industries (ZDI) a special permit giving it exclusive rights to export raw lithium to […]

CENTRE for Natural Resource Governance (CNRG) executive director Farai Maguwu has warned that the proposal by Shalom Mining Corporation Private Limited (SMCPL) to explore Mana Pools for oil could result in an ecological disaster. In the Government Gazette dated April 28, 2023, Mines and Mining Development ministry permanent secretary Pfungwa Kunaka announced that SMCPL had […]

THE Mines and Mineral Amendment Bill expected to correct loopholes that resulted in the exploitation of the country’s minerals has been described as disadvantaging indigenous people who cannot afford the money required to mine strategic minerals. This was revealed in an adverse report tabled in Parliament by the Parliamentary Legal Committee’s chairperson Jonathan Samukange. In […]