News

ZIMBABWE is on the verge of shattering a 30-year annual gold deliveries record of 35,1 tonnes set in 2018 after cumulative deliveries of 29,5 tonnes were recorded in the 10 months to October 2022. Gold deliveries to the country’s sole buyer, Fidelity Printers and Refiners (FPR), slid to a record low in 2008 after high […]

A Bulawayo gold dealer Monday lost US$350,000 to two armed robbers who also took away his CCTV server and a gate remote. Zimbabwe Republic Police (ZRP) spokesperson Paul Nyathi confirmed the incident. “The ZRP is appealing for information which may assist in the investigations of a case of armed robbery which occurred on 22/11/22 at […]

INDEPENDENT oil and gas exploration company Invictus Energy has successfully deepened its Mukuyu-1 test well in Muzarabani to 3 923 metres, according to a statement released on Thursday. It said it had encountered “additional elevated gas shows and fluorescence”. The asset portfolio lies in the highly prospective 360 000 hectares Cabora Bassa basin in Zimbabwe’s […]

MINING house RioZim Limited (RioZim) says power supply challenges remain a key risk to the sustainability of its operations. Despite the company putting in place diesel generators to lessen production stoppages, in its trading update for the third quarter (Q3) 2022, the group said it remained reliant on the power utility Zesa for consistent power […]

THE Chamber of Mines of Zimbabwe says it is engaging authorities to come up with mechanisms that can accommodate the foreign currency requirements for the sector as shortages are weighing down the sector’s potential driven by ongoing expansion projects. The sector is cash intensive, driven by high power costs while government raised royalties for Platinum […]

Solar, wind, and other renewable energy sources (including biomass, geothermal, and hydropower) added more than 2,250 MW of new generating capacity each month during 2021. That was according to the SUN DAY Campaign, which based its finding on data from both the Federal Energy Regulatory Commission (FERC) and the Energy Information Administration (EIA). The report […]

THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) yesterday said electricity generation was depressed due to technical faults at Hwange and Kariba power stations. The country of late has been experiencing rolling power cuts, with some areas going for two years without electricity. In a public notice, ZETDC said the strained electricity generation would affect […]

ZAMBEZI Gas and Coal Mine says it requires more than US$2 billion to fund its capital expenditure (capex) requirements and expansion plans for 2023 and beyond. Capital expenditures are funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment and usually is often used to […]

GOLD output at the Victoria Falls Stock Exchange listed outfit, Padenga Holdings Limited increased by 195% during the quarter to September, after throughput from Eureka mine started coming through, the firm said this week. Padenga, which also produces crocodiles and trade skins on the international markets, said it produced 1 480kg of gold during the […]