News

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 […]

London Stock Exchange-listed mining outfit, Galileo Resources says its claims at Kamativi could contain more minerals, including lithium, tin and rare earth elements. Galileo said it had found pegmatite rock in the western parts of Kamativi during exploration, which was an indication that there could be various minerals within the claims, which required further investigation. […]

Caledonia Mining Corp PLC said on Friday it issued a further 1,814 shares in Zimbabwe placing. The Jersey-based gold producer said the total raised by the Zimbabwe placing following the issue of shares is approximately USD5.9 million for the issue of a total of 425,765 Zimbabwe depositary receipts. This statement comes after Caledonia Mining announced […]

The Al Jazeera Investigative Unit recently released a four-part documentary called “Gold Mafia” exposing gold smuggling and money laundering gangs in southern Africa. The documentary revealed how the gang members get rich while plundering their nations and keeping millions in abject poverty. The four episodes are: Episode 1 – The Laundry Service Episode 2 – […]

Karo Platinum says it plans to start trial mining shortly to test the resource at its new US$391 million mine at Selous. The company says “extensive earthworks” at the site have started. Karo has awarded contracts for the pouring of the foundations for all plants and infrastructure, and for installation for 31km high-voltage power line […]

The former first lady, Grace Mugabe, allegedly used her position to smuggle diamonds and ivory out of the country without her husband’s knowledge and her luggage was not subject to search. Grace was the wife of the late former President Robert Mugabe who died in 2019, almost two years after he was deposed in a […]