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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 […]

OWNER of Dundee 5 Gold Mine in Matobo, In a judgment dated January 11, 2023, Bulawayo High Court judge Justice Maxwell Takuva ruled that the application against Duive Enterprises had been withdrawn., Ndodana Moyo, has filed an urgent High Court application seeking an interdict against miners conducting their activities at his claims without his consent. […]

TOP mining expert and London listed Premier African Minerals (PAM) Chief Executive Officer (CEO) George Roach has come out in support of government new thrust to have lithium processed locally. Speaking a month after President Emmerson Mnangagwa announced a blanket ban on export of raw lithium, Roach, whose Zulu Lithium has interests in Fort Rixon […]

VUMBACHIKWE Mine in Gwanda has come under fire over its prolonged suspension of operations and delay in paying workers’ outstanding salaries. The National Mine Workers Union of Zimbabwe (NMWUZ) has since filed a complaint with the National Employment Council (Nec) for the Mining Industry in Bulawayo stating that the company has been ignoring legal procedures. […]