News

INVICTUS Energy Ltd has announced the identification of eight high-potential gas and condensate prospects in the eastern portion of its Cabora Bassa Basin project in Muzarabani, with the Musuma prospect emerging as a key target for exploration drilling in 2025. The discovery has been hailed as a significant positive step for Zimbabwe’s energy landscape. In […]

AUSTRALIAN energy firm, Invictus Energy Limited, says it has discovered a prospective resource of 184 million barrels of oil condensate at its Cabora Bassa project in the northeastern part of the country. The discovery of a prospective oil resource comes after the firm announced a gas discovery at its Mukuyu 2 drill site at the […]

ZIMBABWE is set to experience more hours of load-shedding as water levels at Kariba Dam have dropped to crisis level as a result of the El Niño-induced drought being experienced in the southern Africa region, NewsDay has learnt. Zimbabwe received below normal rainfall in the 2023/24 rain season as a result of theEl Niño phenomenon, […]

ZESCO has announced that with water resources approaching the minimum operating level, it faces the imminent risk of depleting the remaining reserves by 14 September this year, which could result in the shutdown of the Kariba North Bank Power Station. In a statement issued by company spokesperson Matongo Maumbi, Zesco anticipates a significant power supply […]

ZIMBABWE’S industries have been hit harder than anticipated by a massive power tariff hike in November last year, leading to a 15% increase in costs for mines and causing widespread disruptions across various sectors. Business leaders told the Zimbabwe Independent that the tariff increase, estimated at about 44%, had forced some mines to abandon expansion […]

CALEDONIA Mining Corporation is expected to invest US$22 million in capital expenditure at its Zimbabwe-based Blanket Mine (pictured) by the end of the second half of this year, according to sources. The miner had initially halted capex spending after disappointing production results in late 2023 and the first six weeks of 2024. However, after turning […]

RIOZIM Limited has lost the battle with the Defence ministry over 200 mine claims after the High Court struck the case off the roll saying the application was defective. RioZim had cited Defence and Mines ministers as respondents in the application. The mining company had approached the court seeking a review of the Defence minister’s […]

ZIMBABWE Diamond and Allies Minerals Workers Union (ZIDAMWU) general secretary Justice Chinhema has urged mine operators to pay decent wages to enable employees to build their own houses instead of staying in substandard compounds. Chinhema made the call during a Press briefing on Wednesday, ahead of the union’s congress that started today in Bulawayo. He […]

THE Zimbabwe Consolidated Diamond Company (ZCDC) is targeting to produce 5,7 million carats by year end and double that amount for 2025, after ramping up production. In a statement, ZCDC board chairperson Munashe Shava said the company has come up with various initiatives to offset the falling commodity prices. “Commodity prices are currently depressed on […]