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Zimbabwe’s central bank on Thursday said it will allow exporters, including miners, to keep 75% of their export earnings in foreign currency after the current cap of 60% drew complaints from the industry. The new measure, however, falls short of miners’ demands to keep 80% of their export earnings in foreign currency. The foreign currency-starved […]

The Government is ready to put forward US$20 million to partner investors willing to invest in a lithium battery manufacturing project in Zimbabwe, a cabinet minister has said. Speaking at the launch of the American Chamber Of Commerce (AmCham) in Zimbabwe, Finance and Economic Development Minister Mthuli Ncube said: Some of you were surprised when […]

THE spike in global demand for metal-based minerals has seen Zimbabwean smelting companies increasing their prices for chrome in a move that has boosted local production, the Zimbabwe Independent has learnt. Chrome miners have for years been crying foul over chrome price manipulation by “mafia-style” smelting companies that they accused of arm-twisting the government into […]

Aftrade, a company owned by controversial Belarusian businessman Alexander Zingman, is one of the biggest winners from a series of business deals just signed between Zimbabwe and Belarus. Riding on Belarusian president Aleksandr Lukashenko’s visit to Zimbabwe, Aftrade has won deals to supply tractors and harvesters to the government, contracts to build grain storage facilities, […]

A KEY firm in propping up Zimbabwe’s lithium rush yesterday said the multi-million-dollar takeover of Goromonzi-based Arcadia Mine about two years ago boosted its capacity to attract high-end investors as it moves to new claims. Prospect Resources, which is firing up its African ambition by developing Step Aside lithium mine near Arcadia — the asset […]

ZIMBABWE Congress of Trade Unions (ZCTU) has petitioned Labour Minister, Paul Mavima to urgently intervene following a series of labour violations at the Chinese run Manhidze Steel Works project. The US$1,5 billion worth project being implemented by a Chinese firm, Dinson Iron and Steel Company (DISCO) will be Africa’s largest integrated steel plant, and is […]

THE Reserve Bank of Zimbabwe (RBZ) has set the conditions for 50% raw minerals royalties collections after being conferred with the responsibility by the government. The development follows an announcement made by Finance Minister , Mthuli Ncube in his 2023 National Budget ordering mining companies to pay 50% royalties through physical submission. While some sections […]