News

STATE- owned Kuvimba Mining House (Kuvimba) is banking on its mining proceeds to revive the defunct steelmaker, Ziscosteel. Ziscosteel, once a leading steel manufacturer, has been idle for over over a decade with its demise attributed to the pressures of Zimbabwe’s shattered economy, gross mismanagement and corruption. Kuvimba, in a statement, said it was turning […]

Zimbabwe’s gold output reached a new record high of 35.38 tonnes in 2022, spurred by new mining projects, timely payments and incentives to miners. The output was 19.5 percent up from the previous year’s output, the state-owned Herald newspaper reported Tuesday, citing statistics from the country’s sole gold buyer, Fidelity Gold Refineries. “The incentives are […]

THE Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) has given Vumbachikwe Mine a seven-day ultimatum to pay workers outstanding salaries and recapitalise the business, or face corporate rescue management. The Gwanda-based Vumbachikwe Mine, which is owned by Duration Gold, shut down around the end of last year after workers went on strike over unpaid […]

Chinese steel manufacturer Dinson Iron and Steel Company (DISCO) has announced plans to produce lithium-ion batteries in Zimbabwe saying the southern African country has all the raw materials required in the production process. The company expects to produce two million tonnes of lithium concentrate per year to support the battery manufacturing plant, according to The […]

THE Competition and Tariff Commission (CTC) received seven merger applications for approval during the third quarter of last year from the manufacturing, finance, insurance, agriculture and mining sectors. These transactions, contained in the latest CTC report, include Lafarge Cement Zimbabwe’s purchase by Fossil Mines, the acquisition of Ndoro Microbank Bank by InnBucks, the purchase of […]

THE Victoria Falls Stock Exchange-listed Caledonia Mining Corporation has made significant strides towards establishing itself as a multi-asset gold producer in the country following the acquisition of three mining assets last year. As it pursues its plan to become a multi-asset gold producer, the firm, which owns Blanket Mine near Gwanda, declared in January last […]

CALEDONIA Mining has announced finalisation of the acquisition of Bilboes Gold Limited, the parent company which owns, through a subsidiary, the Bilboes gold project in Zimbabwe. Commenting on the news in a statement, Mark Learmonth, the company’s chief executive officer, said: “Completion of the Transaction is the cornerstone in Caledonia’s strategy to create a mid-tier, […]

THOUSANDS of lithium hunters who last month invaded Goromonzi North in Mashonaland East province in search of quick riches in the soft silvery-white alkali metal have since left the area after security forces intervened. Scores of unemployed youths and buyers late last year descended in the area located near the recently established Prospect Lithium Zimbabwe […]

VICTORIA Falls Stock Exchange-listed resources outfit Bindura Nickel Company (BNC) is projected to post a full year loss in the financial year 2023, market analysts Morgan & Co have said. BNC, which is part of Kuvimba Mining House, posted a 7,8% decline in turnover, according to the reviewed financial results for the half year ended […]