News

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 […]

REVENUE at the Australia Stock Exchange (ASX)-listed mining giant Zimplats decreased by 7% to US$545,5 million for the half-year ending December 31, 2022, compared to the same period the previous year. The decline was mostly caused by reduced sales volumes of platinum, palladium, rhodium, gold, ruthenium and iridium (6E). “Revenue at US$545,5 million was 7% […]

THE Ministry of Industry and Commerce has requested President Emmerson Mnangagwa to intervene in a mining wrangle between Chemplex Corporation and a former executive with the Industrial Development Corporation of Zimbabwe (IDCZ), according to confidential documents seen by the Zimbabwe Independent. The IDCZ controls agricultural chemicals maker, Chemplex, which in turn controls 100% shareholding in […]

MINES minister Winston Chitando yesterday read the riot act to foreign investors in the mining sector violating labour and immigration laws. “I want all mining activities in Zimbabwe to be done in accordance to the laws of this country, and I repeat that they must observe the laws of this country. We want labour and […]