News

OBEY Chimuka’s Fossil Mining has taken over control of Lafarge Cement after successfully buying the 76.45% stake which had been put up for sale by Swiss headquartered Holcim Group. The sale will be concluded by transfer of shares from Holcim’s Associated International Cement Limited to Fossil Mines according to a statement by Lafarge acting Company […]

UK-BASED Galileo Resources PLC (AIM:GLR) said it has identified three priority gold and nickel exploration targets originally generated from an airborne geophysical survey over the Bulawayo gold project in Zimbabwe. The three targets that have been prioritised are at Queens West, Bembeshi Nickel and Bembeshi Gold. Galileo has a 29% interest in Bulawayo, held through […]

Tharisa has extended its US$50 million bond issue for Karo Mining, saying it needed to mop up “strong interest” from potential investors. A regulatory holdup may also be standing in the way. The company issued the bond on VFEX on October 31 to raise part of the US$391 million that it needs to build Zimbabwe’s […]

ZAMBEZI Gas and Coal Mine is pushing for Zimbabwe Power Company to pay 50% of the US$1,3 million owed by the parastatal for coal supplies, as the miner faces operational challenges. Operations director Menard Makota said the delay in payment by ZPC was a setback to the miner, considering that it was paying 100% in […]

Zimbabwe has signed an agreement with Tsingshan Holdings Group, which plans to set up lithium mining and processing operations in the southern African country, President Emmerson Mnangagwa said on Tuesday. Tsingshan, one of the world’s top nickel producers, is currently building a $1 billion stainless steel plant in Zimbabwe. The company also has a coking […]

London-listed Contango Holdings says it plans to start exporting thermal coal early next year from its Zimbabwe mine following requests from customers in Europe and Asia. Zimbabwe’s neighbour South Africa saw an eight-fold increase in coal exports to Europe during the first half of 2022, after the European Union banned coal imports from Russia as […]

REVENUE at Johannesburg Stock Exchange listed pan African cement maker, PPC’s Zimbabwean operation fell by 31% to R855 million (US$49,29 million) in the six months ended September 30, 2022 following key maintenance schedules at its kiln plant, the firm said this week. The revenue stood at R1,24 billion (US$71,43 million) during the same period in […]