News

MINE workers have expressed grave concern over the rampant casualization of labour within the sector. In an interview, Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) secretary general Justice Chinhema said his organisation is pushing for the review of the outdated collective bargaining agreement (CBA). “As we are pushing for the amendment of the current […]

The Zimbabwe Electricity Supply Authority (ZESA) said it has been allowed to increase generation at Kariba South Power Station for limited periods. In a statement, the power utility said power cuts have decreased in most parts of Zimbabwe and they expect the situation to improve further as they also increase electricity generation at the Hwange […]

ZESA Holdings‘ acting managing director Norbert Mataruse has said it needs at least US$5 million to resuscitate the Harare Power Station. He made the remarks during the Parliamentary Portfolio Committee on Energy tour to assess the state of affairs at the power plant. NewsDay cites Mataruse as saying: We need about US$5 million for this plant to […]

Zimbabwe needs $100-million of gold to kick-start its proposed bullion-backed digital currency, as the southern African nation makes another attempt to stabilize its floundering dollar. The central bank will rely on gold reserves, which it has been accumulating, to support the initiative and stem the local currency’s volatility, according to Persistence Gwanyanya, a member of […]

PROSPECT Lithium Zimbabwe (PLZ) said on Thursday it was due to begin exports from Arcadia, its new Zimbabwean operation near Harare, following the completion of a US$275 million processing facility. In an address to staff to mark the first year of Prospect’s Chinese controlling shareholders at the mine, the firm said while lithium prices had […]

The Reserve Bank of Zimbabwe (RBZ) is reportedly planning to stabilise the Zimbabwe dollar by introducing a new currency backed by gold tokens. The Sunday Mail reported that RBZ would issue digital gold tokens backed by gold held at the central bank. This will allow people holding Zimbabwe dollars, which have been losing value, to exchange them for […]

INTERNATIONAL lithium miner, Zhejiang Huayou Cobalt says its investment in Zimbabwe has put the southern African country on the global map of renewable energy and technology value chains. The Chinese firm acquired the Prospect Lithium Zimbabwe (PLZ) asset in 2021 for about US$378 million. It then began building one of the world’s most sophisticated plants […]

CABINET has approved the lithium ore policy as a way of fostering the country’s beneficiation capacity and maximising earnings from the strategic mineral. Speaking during a post-Cabinet briefing on Wednesday, Information minister Monica Mutsvangwa said a statutory instrument (SI) would be issued to give legal effect to the policy. The SI will highlight that any […]