News

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 […]

The new Unit 7 at Hwange Thermal Power Station is expected to come on the grid on 16 March while Unit 8 is expected to come on line April. This was said by the Minister of Energy and Power Development Minister, Soda Zhemu on Wednesday during the National Assembly question and answer session, reported The Herald. […]

THE Zimbabwe Consolidated Diamond Company (ZCDC) chief executive officer (CEO) Mark Mabhudhu was suspended on Monday for reportedly stalling the corrupt purchase of Kuvimba Mining House (KMH)’s 33% shares in Great Dyke Investments (GDI), it has been established. KMH became part of GDI after acquiring 50% stake from Afromet Joint Stock Company owned by Russian […]

By Staff Writer IN a huge victory for Israeli investor Ofer Sivan, the High of Zimbabwe has blocked the ‘illegal’ hostile takeover of earth moving equipment business, Adelcraft Investments, by Gillad Shabtai and his driver Munyaradzi Gonyora. It is the state case that two years ago, Shabtai and Gonyora attempted to place Adelcraft under voluntary […]

Mines deputy minister Kambamura has been sucked in a mining wrangle pitting his ally Hillary Mutandwa against Phillip Makunze, a leaked police memo from Sanyati Police Station to Kadoma district police officer has revealed. According to the memo, the mine initially belonged to a Chinese national, He Xinwei, who was booted out after the community […]

The Environmental Management Agency (EMA) has shutdown two lithium mines in Goromonzi district in Mashonaland East province for allegedly operating without environmental impact assessment (EIA) certificates. The companies are TN Gold and Shengxiang Mining Investments, according to NewsDay. TN Gold was fined ZW$500 000, while Shengxiang Mining was ordered to pay ZW$100 000 for lack of EIAs. EMA provincial spokesperson, Astas Mabwe, yesterday […]

AUSTRALIA Stock Exchange (ASX)-listed energy explorer Invictus Energy says it has received “interest from industry partners” to take part in the Cabora Bassa project due to positive results obtained from Mukuyu-1 and side-track (ST1) wells. The Mukuyu-1 and ST1 wells, according to managing director Scott Macmillan, have several gas zones and perhaps liquid hydrocarbon-bearing periods […]

Zimbabwe’s thermal power generation dropped significantly on Tuesday 28 February 2023, with Hwange Thermal Power Station producing only 74 megawatts (MW) against the 920MW installed capacity. The three small thermal stations – Bulawayo, Harare, and Munyati had zero output. Hwange Power Station is the largest coal-fired power station in Zimbabwe with 920MW installed capacity which […]