News

The breakdown of five out of six units at the Hwange Thermal Power Plant has compounded existing electricity challenges Zimbabwe is facing with some customers enduring power cuts lasting more than 24 hours. The country’s power utility, ZESA Holdings, is expected to bring online two new units at the Hwange Thermal Power Plant in the […]

TRUSTEES of the Ziscosteel pension fund have slammed a pension rights campaigner that has been pushing for an immediate settlement of up to US$1 billion in outstanding pensions to its members. The Zimbabwe Pensions and Insurance Rights Trust (ZimPIRT) last month filed a petition with parliament, telling legislators to take action over the predicament of […]

The Zimbabwe Energy Regulatory Authority (ZERA) has announced new fuel prices effective March 6, 2023. In a statement, the regulator said petrol would now be sold at US$1.62 or ZW$1455.32 up from US$1.59 or ZW$1 241.01 announced on 26 January 2023. The authority also said the retail price for diesel is now US$1.67 or ZW$1 […]

EFFORTS to evade a US$234 500 debt by Marange Resources Pvt Ltd have flopped after the High Court said the company cannot be excluded from the claim given existing facts. The company has not yet been ordered to pay the amount but High court judge Justice Bongani Ndlovu ruled that it must explain its defence […]

Zimbabwe’s power crisis has deepened as the total generation by the country’s power utility, ZESA Holdings, has continued to fall since the end of February. According to the Zimbabwe Power Company, ZESA Holdings’ subsidiary responsible for power generation, on 03 March 2023, the total output from its five power stations was 260MW. This is against […]

Desperate for capital after the pull-out of Russian investors stalled the Darwendale platinum project last year, Kuvimba Holdings wants state-owned Zimbabwe Consolidated Diamond Company (ZCDC) to put in US$400 million for a 33% stake in the operation. Vi Holdings of Russia had hoped to build what would be Zimbabwe’s biggest platinum mine, but delays in […]

London-listed natural resource development company Contango Holdings has completed construction of a small-scale coke battery at its Lubu coal project, in Zimbabwe. The pilot coke plant will provide on-site capability to manufacture coke from washed coking coal produced at Lubu for testing by future offtake partners and for the company’s internal studies and quality control. […]

China National Resources (CHRM), an exploration company listed on the NASDAQ stock exchange, has announced that it could pay up to US$1.75 billion for a lithium operation in Zimbabwe. In a statement, the company announced that it will buy Williams Minerals, which holds lithium claims in Zimbabwe, potentially joining a queue of global companies buying […]

THE Zimbabwe Stock Exchange-listed resources outfit RioZim is in danger of collapsing if action is not taken quickly, a trade union warned yesterday, asking the government to step in and preserve jobs. The Zimbabwe Diamond Mineral and Allied Workers Union (Zdamwu) wrote to Mines and Mining Development minister Winston Chitando stating that RioZim was experiencing […]