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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 […]

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 […]