News

RIOZIM Limited’s gold production dropped 17% to 929 kilogrammes in the financial year 2022 compared to the previous year due to the Dalny Mine being put on care and maintenance. In a statement accompanying the group’s financial results for the year ended December 31, 2022, RioZim chairperson Saleem Beebeejaun said the group’s focus on optimising […]

LISTED mining group RioZim has commended authorities for the upward review of US$ retention thresholds for the mining sector amid calls for improved power supplies to enable industry to maximise production potential. In a Monetary Policy Statement (MPS) presented by the Reserve Bank of Zimbabwe (RBZ) early this year, the mining sector was allowed to […]

Invictus Energy, the company exploring for gas in Zimbabwe, says mud gas analysis confirms the presence of gas deposits, providing encouragement for the company ahead of the drilling of a second exploration well in the third quarter of this year. Ground conditions forced Invictus to abandon operations at its first drilling site, Mukuyu-1, late last […]

The serenity of Zimbabwe’s world-famous Mana Pools could be disturbed by mining rigs if government okays an application by a little-known company to prospect for oil and gas in the area. According to a government notice, Shalom Mining Corporation has applied to prospect in an area covering 130 000 hectares, which includes parts of Mana […]

ZIMBABWE should refrain from awarding all of its mining rights to investors from one country, a resource campaign organisation has warned. The Zimbabwe Environmental Law Association (Zela) said this week the most viable strategy would be to spread lithium licences to investors from other countries. Zela said at the heart of the lithium rush in […]

Gold miner Caledonia Mining started the direct sale of gold produced from its Blanket mine, in Zimbabwe, to a refiner outside of the country. Since listing on the Victoria Falls Stock Exchange and following completion of the Bilboes acquisition, Caledonia has been considering various options to achieve the direct export of its gold. Unrefined gold […]

CIVIL Aviation Authority of Zimbabwe (CAAZ) head of security Cleopas Chidodo yesterday apologised to former First Lady Grace Mugabe after he told Al Jazeera journalists that she smuggled diamonds and ivory out of the country. Chidodo name-dropped Grace to undercover Al Jazeera journalists doing a documentary on gold smuggling and money laundering. In his apology, […]

LITHIUM miner Prospect Resources remains well-funded ahead of its future exploration and drilling activities, with strong cash reserves of about A$28,5 million (US$18,86 million), according to managing director Sam Hosack. Prospect commenced its initial reverse circulation (RC) and diamond drilling programme at Step Aside in early July 2022. The objective of this programme was to […]

GOVERNMENT has stepped up efforts to equip small-scale gold miners using agriculture industry-inspired methods such as equipment loans, an official has said. Small-scale gold miners have made significant contributions over the years to the industry, which is today recognised as a critical pillar, second only to agriculture, to the swift economic turnaround of the nation. […]

AUSTRALIAN energy firm Invictus Energy Limited (Invictus) has announced a share purchase plan (SPP) to raise AU$10 million (US$6,68 million) for its Mukuyu-2 appraisal and Cabora Bassa Phase 2 exploration. In December 2022, the firm, which seeks to make Zimbabwe’s first oil find, suspended drilling operations at its Muzarabani potential oil and gas dig site […]