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LONDON-headquartered mining outfit Vast Resources said this week it was kicking off processes for the return of its 129 400 carats of gems held at Zimbabwe’s the Reserve Bank of Zimbabwe (RBZ) since 2010, after winning a protracted legal battle. Vast, a multi-resource operation trading its stock on the London Stock Exchange’s alternative investment markets, […]

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has bought 4 000 transformers to replace those that have been vandalised across the country, an official has said. Speaking in Concession this week during a stakeholder outreach programme, acting managing director Howard Choga also said the company intends to buy 1 000 new service vehicles. Choga […]

Former deputy Prime Minister, Professor Arthur Mutambara, has called for the removal of the “incompetent” Indian company contracted to manage works at Hwange thermal power stations. Speaking during a Public Policy Research Institute of Zimbabwe (PPRIZ) Webinar on the energy crisis in the southern African nation, Mutambara said Water and Power Consultancy Services (WAPCOS) must be removed […]

The light plane which reportedly crashed in Chivhu on Monday was carrying diamonds owned by mining giant, Murowa (Private) Limited. Initial reports suggested that two people had survived the crash. Latest reports suggest that the Piper 31 Navajo aircraft which crashed on a field about 16km from Beatrice on Monday afternoon, had five people on board and they all survived […]

Finance Minister, Mthuli Ncube, has used US$10 million of the International Monetary Fund (IMF) grant extended to Zimbabwe last year to set up a gold facility. The US$10 million is from nearly US$1 billion received from the IMF under Special Drawing Rights (SDRs), an international reserve asset to supplement official reserves and boost liquidity to member countries […]

The Environmental Management Agency (EMA) has blocked plans by RZM Murowa, a diamond miner, to resume exploration for diamonds in the contentious Sese area of Chivi. The agency told Murowa to get an additional Environmental Management Plan (EMP) for the envisaged new scope of work, The Herald reported. EMA told Murowa to engage local stakeholders, […]

FIVE passengers escaped with their lives after a light aircraft transporting diamonds crashed-landed near Harare Monday afternoon, police confirmed. According to the ZRP, five passengers escaped with their lives after the Piper 31 Navajo aircraft landed on a field some 16km from Beatrice at around 2.30pm. The plane, owned by diamonds miner Murowa (Private) Limited […]

LONDON Stock Exchange-listed firm Contango Holdings has set a target to produce 200 000 tonnes of coking coal after taking delivery of a coke washing plant at its Matabeleland North-based Lubu project. Contango is the firm spearheading the development of the Lubu Coal project in the Hwange district of Matabeleland North. The construction and assembling […]

ABOUT 20 members of the Ziscosteel Pension Fund have petitioned Parliament to press for the payment of US$3 million in outstanding pensions, documents obtained by NewsDay Business yesterday showed. This figure translates to about $2,5 billion at the prevailing official foreign currency exchange rate. The petition says the firm’s ex-workers were ready to be paid […]

Caledonia Mining Corporation says its 12MW solar farm, which went live in November, is generating more power than expected, helping cut diesel consumption at Blanket Mine. The plant, designed to supply about 27% of Blanket Mine’s power needs, is one of a growing number of solar projects being installed by key mining companies, keen to […]