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THE government, which in November last year committed itself to regularising lithium mining activities at Sandawana Mine in Mberengwa, made a dramatic turnaround by duping and abandoning villagers after grabbing their ore without paying for it, it has emerged. Late last year, at least 5 000 artisanal miners and fortune-seekers, including foreigners, descended on the […]

LONDON based mining and resource development company, Vast Resources says it is pursuing 129 400 diamond carats trapped in Zimbabwe amid a lucrative share jump this week. The historic parcel has been in custody of the Reserve Bank of Zimbabwe (RBZ) since 2010. Vast Resources said the release of the historic parcel of 129,400 carats […]

AUSTRALIAN energy firm Invictus Energy Limited (IEL) ended the fourth quarter of last year with a surplus of AUD12,62 million (US$8,95 million) following a period of exploration of the Cabora Bassa Basin, northeast of Zimbabwe. The announcement was made in IEL’s company results for the period under review, which was down nearly 56% from the […]

South Africa has gone from the darling of Davos to being reluctant to show face at the prestigious annual global event of politicians and business leaders that is the World Economic Forum (WEF). When Cyril Ramaphosa attended WEF in Switzerland as President-elect in January 2018, investors flocked to South Africa’s investment prospectus with anticipation of […]

THE Reserve Bank of Zimbabwe (RBZ) says it will begin to implement legislative measures announced through amendments to the Finance Act [Chapter 23:04] and RBZ Act [Chapter 22:15], which provide for the collection of 50% of royalties in kind, or in the form of minerals. In a statement yesterday, central bank governor John Mangudya said […]

India is expected to slash the import duty on gold to undercut smugglers who have been offering hefty discounts as illicit imports boom after covid-19, denting the market share of banks and refiners, government and industry officials told Reuters. A cut in the import duty by the world’s second-biggest consumer could lift retail sales by […]

Zimbabwe’s gold mining sector is targeting to raise production to 40 tonnes this year, up from 35.38 tonnes last year, an official said Tuesday. Last year’s output was a record high, spurred by new mining projects, timely payments, and incentives to miners. Out of the 35.38 tonnes produced last year, small-scale and artisanal miners contributed […]

A multinational firm that is developing one of Africa’s biggest lithium mines in Zimbabwe has moved into the Goromonzi community, about 60 kilometres east of Harare to repair damaged roads, before it kicks off production this quarter. Prospect Lithium Zimbabwe (PLZ) kicked off prospecting at its Arcadia Mine claims about four years ago, before it […]

Zimbabwe’s special release of gold coins to fight inflation is seeing strong demand, with coins selling for over $2,000 an ounce each for the first time since their release back in July. The country’s central bank began selling gold coins in the summer to try and tame inflation by providing a store of value to […]