News

THE CHINESE firm that is constructing a US$1,5 billion steel plant near Mvuma says 50% of the project has been completed. An official said Dinson Iron and Steel Company would begin production before the end of this year. Project manager Wilfred Motsi said the project was on target, adding that they are almost done with […]

ZIMBABWE’S biggest gold mining outfit, Caledonia Mining Corporation, says at least 1,1 million ounces of gold could be contained in claims at its Gwanda-based unit, Blanket Mine. This figure is twice as big as the firm’s original estimate, and places it among the biggest resource firms in the region. “I am delighted to be publishing […]

Zimbabwe will start operating a new unit at its only coal-fired power plant by March, the country’s deputy energy minister said on Wednesday, providing relief to millions of citizens rocked by frequent power outages in recent months. The new unit of the Hwange power plant will lift the African nation’s installed capacity by more than […]

THE region’s leading resource campaigners have thrown their weight behind Zimbabwe’s move to hike royalties for two key minerals, saying the country must benefit from its mineral resource base. Starting January 1, 2023, government increased platinum group metals (PGMs) royalties by 180 percentage points to 7%, from 2,3% previously, while those for lithium — Zimbabwe’s […]

FINANCIALLY hamstrung National Railways of Zimbabwe (NRZ), has resorted to selling its land to boost recapitalisation efforts as it looks to raise funds to procure locomotives and wagons. NRZ has turned to its vast land which will be subdivided into residential and commercial stands at market value. The parastatal has been failing to service its […]

AUSTRALIA-BASED Prospect Resources on Monday said it had mounted the second phase of a crucial diamond drilling campaign at Step Aside lithium project, east of Harare. This comes as the firm shifted focus after selling Arcadia Mine to a Chinese firm last year, in a US$378 million deal. In a market update, managing director Sam […]

CALEDONIA Mining Corporation Plc says its gold resource base has increased by 52% on the back of lucrative surging gold output as the miner’s productivity profile continues to surge. The company said it has boosted the gold resource base at its 64%-owned Blanket mine in Zimbabwe. The total measured and indicated resources estimate at Blanket, […]