News

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, […]

LONDON based mining and resource development company, Vast Resources has hailed President Emmerson Mnangagwa’s administration for commitment in resolving legacy issues at a time when the miner’ share price has gone up. This follows the successful resolution of the firm’s trapped diamonds saga which has dragged on since 2009. The gems have been held in […]

Cement company PPC has played down social media rumours that it plans to sell its Zimbabwe unit, one of its most profitable divisions. The company says it receives regular unsolicited offers for some of its units, but suggested it has no immediate such plans for Zimbabwe. “PPC Ltd notes the recent social media speculation regarding […]

STATE-owned gold buyer, Fidelity Gold Refinery (FGR) is bullish on hitting a 40-tonne gold delivery target in 2023 buoyed by new gold mining projects coming into production as well as continuous policy interventions from the government, the Zimbabwe Independent can reveal. The country’s gold deliveries to the FGR have continued to soar with the government’s […]

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 […]