News

The Reserve Bank of Zimbabwe (RBZ) has been asked to explain the missing US$295 million from gold exports to the United Arab Emirates (UAE) in 2021. RBZ reported that Zimbabwe exported 28 468kg of gold to UAE for US$1 604 058 775 in 2021. However, UAE reported that it received 34 340kg of gold from Zimbabwe for […]

ZESA Holdings subsidiary, Zimbabwe Electricity Transmission and Distribution Company (ZETDC), says it is only generating 951 megawatts (MW) of electricity against a national peak demand of 2 200MW, which has resulted in the country experiencing electricity blackouts of up to 18 hours per day in some areas. Despite the successful synchronisation of Hwange Unit 7 […]

CORRUPTION watchdog, Transparency International Zimbabwe (TIZ) has urged government to revoke gold trade and export licences of individuals implicated in the Al Jazeera gold smuggling documentary. Last week, international news channel Al Jazeera aired the first episode of the four-part gold smuggling syndicates in Zimbabwe titled Gold Mafia: The Laundry Service, which has rattled government […]

GROSS revenues at Victoria Falls Stock Exchange-listed Caledonia Mining Corporation grew by 17,4% to US$142 million last year compared to the same period in 2021, on the strength of increased gold output. The business generated gross sales of US$121 million in 2021. The mining company’s operating and financial results for the year ending December 31, […]

CALEDONIA Mining Plc has tabled plans to raise US$13,7 million through placing of new common shares in a bid to generate working capital and strengthen the miner’s balance sheet. The AIM listed company said the capital will be raised through placing of new common shares at a significant discount when compared to the shares current […]

AS the demand for electric vehicles continues to soar, China has turned its attention to Africa in search of the lithium needed for the production of EV batteries. However, as China’s presence in African mines grows, is it possible for the continent to fully seize this momentous opportunity? While this influx of Chinese investment could […]

More than 1.8 million photovoltaic panels installed over 146 modular floating units would be used for the Lake Kariba project. China Energy Engineering Group proposed building a 1,000-megawatt floating solar farm for Zimbabwe, a nearly $1 billion project, on the world’s largest man-made lake. More than 1.8 million photovoltaic panels installed over 146 modular floating […]

Tharisa, the JSE-listed miner currently building the Karo Platinum mine in Zimbabwe, says it has raised US$130 million in a debt facility secured by production. The company, which began work on the US$391 million platinum project at Selous last year, said the facility from France’s Société Générale and South Africa’s Absa Bank has a 42-month […]

Redwing Mine has resumed operations following its temporarily closed by the Environmental Management Agency (EMA) at the end of January this year after more than 20 people died in 13 months. Manicaland provincial mining director, Elton Makumbe confirmed the reopening of Redwing Mine to The Manica Post. He said: They were given the nod to reopen. […]

The government has asked ZESA Holdings to evaluate the efficacy and efficiency of three small thermal power stations, Bulawayo, Harare, and Munyati, and devise a clear strategy on how to move forward. This may result in the decommissioning of the three power plants which are now very old, with some dating back as far as […]