News

AUSTRALIAN energy firm, Invictus Energy Limited, has changed its designation to developer from explorer as it transitions to a producer, leveraging its gas and oil discovery in north-east Zimbabwe. In late 2023, Invictus declared multiple high-quality gas-condensate discoveries at the Mukuyu Gas Field, in the upper and lower Angwa formations while drilling at its Cabora […]

PLATINUM group metals miner (PGMs), Zimplats Holdings Limited, has recorded a 96% drop in profit after tax to US$8,22 million for the year ended June 30, 2024, owing to lower revenues during the period. The drop is from a comparative of US$205,46 million earned last year. During the period under review, global commodity prices declined […]

BRAVURA Mining consortium has commenced shipment of components for its Kamativi lithium processing plant manufactured in South Africa. The arrival of the separation plant, manufactured by Manhattan Corporation of South Africa, coincides with the ongoing civil works for the plant foundations and other ancillary structures. The project, owned by Nigerian billionaire Benedict Peters, is one […]

Platinum miner Zimplats has reported a 20% year-on-year decrease in revenue, dropping from $962.3-million at the end of the 2023 financial year to $767.1-million at the close of the 2024 financial year on June 30. The company attributed this decline to the softening of average dollar metal prices during the period. The gross revenue per […]

For the first time ever, a bar of gold is worth a cool one million dollars. The milestone was reached Friday, when the precious metal’s spot price surpassed $2 500 per troy ounce, an all-time high. With gold bars typically weighing about 400 ounces, that would make each one worth more than $1-million. There are […]

A BULAWAYO-BASED Chinese quarry mine, which has for some time been at loggerheads with locals and other stakeholders over its mining activities, says it has made concerted efforts to address a plethora of concerns. Hualin Investments was given the nod to set up the quarry mine in Pumula North, Bulawayo, in 2021 by the city […]

Australian-listed miner, MetalsGrove Mining Limited (MetalsGrove), says it is relinquishing its lithium projects in Zimbabwe following disappointing exploration results in its claims at Arcturus and Beatrice, both located in Mashonaland East Province. The company, which saw its market capitalisation rise to a peak of US$5,61 million in May after announcing the acquisition of these lithium […]