News

Huayou, one of the biggest cobalt producers in the world, acquired Arcadia from Australia-listed Prospect Resources and its Zimbabwean partners in a US$422 million deal completed in 2022. After the transaction, Huayou said it would spend US$300 million to build a plant to process 4.5 million tonnes of lithium ore at Arcadia. “All production lines […]

GALILEO Resources PLC is pleased with its Bulawayo project prospects after sample indications showed strong anomalism for elements commonly accompanying gold. The top miner said the Bulawayo gold project in Zimbabwe has delivered promising results from recent exploration activities. Wide-spaced soil sampling along the northern part of the Bembeshi Trend has identified a 1.5-kilometre-long gold […]

CHIRUMANZU could be declared a Special Economic Zone (SEZ) if deliberations between government and DINSON, the company building a multi-billion dollar steel plant in the Midlands district are successful. The SEZ removes bureaucratic delays in identified spaces which would have primarily be located in areas vital to Zimbabwe’s export bill. DINSON set out to build […]

Zimbabwe is losing over US$2 billion in illicit financial flows, revealed Tendai Biti, a former Minister of Finance and Economic Development. Biti urged the government of Zimbabwe to consider enacting laws to deal with illicit financial flows which he said are bleeding the country. Speaking in the National Assembly, Biti said he was concerned about […]

Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya has sought to clarify the issue of Gold Dealing Licence fees following the publication of Statutory Instrument 32 of 2023 on Monday, 20 March 2023. The Statutory Instrument set the fee for a Gold Dealing Licence at US$200 000 per annum. In a statement issued this Tuesday, […]

The Mberengwa-Zvishavane Miners Association has urged the Government to introduce mining as a subject in primary and secondary schools. Speaking during the 2023 Great Dyke Career Fair held at Gresham Primary School in Zvishavane recently, the miners’ association chairperson Themba Sibanda, said: l have been challenged by the school which has introduced hunting as a […]

The Zimbabwe Power Company (ZPC) late on Monday said the new 300 megawatts (MW) generating unit at Hwange Thermal Power Station started feeding electricity into the national grid. Zimbabwe is expanding the 920MW Hwange power station by adding two 300MW units (7 & 8) at a cost of US$1.4 billion, with 85% of the funding […]

The government has set the fee for a Gold Dealership Licence at US$200 000. Finance and Economic Development Minister Mthuli Ncube announced the development under Statutory Instrument 32 of 2023. The SI reads in part: It is hereby notified that the Minister of Finance and Economic Development, in terms of Section 19 of the Gold […]