64 views
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Mining Index Zimbabwe
- March 22, 2023
64 views 51 secs

Govt pegs gold dealership licence fee at US$200 000

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 […]

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126 views
FEATURED
Mining Index Zimbabwe
- March 22, 2023
126 views 4 mins

Tesla’s vision of EVs without rare earths will spur magnet race

Tesla’s ambition to remove rare earths from future models has producers in the sector reeling, but it also should spur global efforts to deliver alternatives for electric car motors that currently rely on the materials. Model 3 and Model Y powertrains have already reduced consumption of heavy rare earths by a quarter, and Tesla’s next […]

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120 views
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Mining Index Zimbabwe
- March 22, 2023
120 views 4 mins

LME finds some nickel underlying its contracts is missing

The London Metal Exchange has discovered bags of stones instead of the nickel that underpinned a small handful of its contracts at a warehouse in Rotterdam, in a revelation that will deliver another blow to confidence in the embattled exchange. The amount of metal represents just 0.14% of live nickel inventories on the LME, however […]

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111 views
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Mining Index Zimbabwe
- March 22, 2023
111 views 3 mins

Trafigura bought some LME ‘nickel’ that was just bags of stones

Trafigura Group, one of the world’s biggest metals traders, was among the companies that received bags of stones from a London Metal Exchange warehouse instead of the nickel briquettes they had paid for. The amounts of money involved are small, but the issue presents a fresh headache as the company wades through the fallout of […]

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175 views
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Mining Index Zimbabwe
- March 22, 2023
175 views 2 mins

Invictus opts to keep oil rig one year more

EXALO Rig 202, the oil rig that was contracted by Invictus Energy to drill for oil and gas samples in Zimbabwe, will stay in the country for the next 12 months, the Australia Stock Exchange-listed firm said this week. Invictus drilled two test wells at its Zambezi Valley oil and gas claims, called Cabora Bassa, […]

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81 views
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Mining Index Zimbabwe
- March 22, 2023
81 views 4 mins

Power outages hit PPC cement sales

REGIONAL cement maker PPC expects sales volumes at its Zimbabwean unit will drop by 14% in the full year compared to the same period last year due to recurrent power outages and grey imports. PPC operates a clinker plant at Colleen Bawn in Gwanda in the southern part of the country, as well as cement-milling […]

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100 views
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Mining Index Zimbabwe
- March 22, 2023
100 views 4 mins

Mine workers’ wages pegged in US$

WAGES for workers in Zimbabwe’s mining sector have been fixed in United States dollars, with the lowest paid worker set to earn US$355 per month beginning January this year. However, 35% of the wages will be paid in local currency. Prior to the change, the lowest paid mining employee got $217 299,84 per month, while […]

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109 views
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Mining Index Zimbabwe
- March 17, 2023
109 views 2 mins

17 pupils injured as classroom collapses into makorokoza underground tunnel

Schoolchildren injured after their classroom collapsed into a sinkhole. The hole was the result of uncontrolled underground mining. The school is located near two gold mines. At least 17 primary schoolchildren were injured in Zimbabwe on Thursday after their classroom collapsed into a sinkhole, local authorities said, blaming the incident on uncontrolled underground mining. The […]

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227 views
FEATURED
Mining Index Zimbabwe
- March 17, 2023
227 views 3 mins

Small-scale miners focus on US$10m fund

THE ZIMBABWE Miners Federation (ZMF) says it is currently working on modalities of how the US$10 million incentive released by the government will benefit small-scale miners. Last month, Finance and Economic Development minister Mthuli Ncube launched a US$10 million gold facility to fund mining expansion and increase productivity. ZMF chief executive officer Wellington Takavarasha said […]

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246 views
FEATURED
Mining Index Zimbabwe
- March 16, 2023
246 views 5 mins

Survey reveals Kenya has some 970 minerals

It has emerged Kenya has immense underground wealth after a survey found that there are 970 minerals nationwide. The minerals have been classified as “potential prospects” for further exploration to establish the nature, economic viability and estimated total worth. If the process of confirming these critical minerals, first in 15 select counties considered well-endowed, is […]

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