News

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 […]

THE majority of Zimbabwean mining companies are not publishing environmental social and governance (ESG) reports, raising questions over their commitment to protecting the environment, a legal expert at the Zimbabwe Environmental Law Association has said. An ESG report is published by companies and organisations to show their plans on tackling environmental degradation, climate change, human […]

MINES and Mining Development minister Winston Chitando has criticised investors in the extractive industry who are flagrantly violating human and labour rights. Chitando encouraged underpaid and abused mine workers to report to the ministry for corrective action. “On the issue of labour, let me put it this way. The government came up with a responsible […]

BINDURA Nickel Corporation (BNC) sounded the alarm on profit last week, as regulatory filings showed the miner had plunged into a tougher ore body, which forced officials to review the firm’s extraction strategy. BNC, which trades its stock on the Victoria Falls Stock Exchange, projected in filings with the bourse that profits for the half […]