News

Ferrochrome producer Zimasco shut down its smelter after the authorities cut power because of a dispute over tariffs. The company, a unit of Sinosteel, is in talks with the Zimbabwe Electricity Transmission Distribution Company to end the standoff, says spokesperson Clara Sadomba. “We are confident the situation will be resolved soon and power will be […]

Caledonia Mining Corporation, the firm that controls Blanket Mine near Gwanda, says it plans to restart an oxides facility at Bilboes Gold as soon as it begins operations at the asset. Caledonia, which trades its stock on the Victoria Falls Stock Exchange, recently made serious intentions to swoop into Bilboes Gold after agreeing on a […]

Invictus Energy Limited says the Mukuyu-1 well that is currently being drilled in its 80 percent owned SG 4571 licence in Zimbabwe’s Cabora Bassa Basin has reached the total depth, with additional zones of elevated gas and fluorescence. Invictus is an independent upstream oil and gas company headquartered and listed on the Australian Securities Exchange […]

ZIMBABWE’s mining sector injected a total US$1 billion through retention liquidations, which have gone a long way to support the industry and citizens, Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya revealed this week. Under the RBZ’s foreign currency retention policy, miners get 60% or 70% of their export earnings in United States dollars in […]

Caledonia Mining says its new 12MW solar plant has started generating electricity for its Blanket Mine, providing an alternative to unreliable ZESA power. Hit by power cuts and an unstable grid, Blanket had installed diesel power backup, but this has been expensive and unfriendly to the environment. Last year, the company began building a solar […]

THE country’s mining sector has predicted lowered prospects FY2023 on the back of tight commodity markets, the latest Chamber of Mines report has revealed. The report titled ‘State of the Mining Industry Report 2022’ says executives in the mining sector are also anticipating global recession. “Commodity market outlook survey findings show that commodity market outlook […]

GOVERNMENT has barred artisanal miners and lithium buyers who had thronged the Sandawana Mine in Mberengwa ultimately giving exclusive rights to the Zimbabwe Miners Federation (ZMF) through Kuvimba Mining House, who will buy the mineral while assisting the miners with equipment and other accessories. More than 5 000 artisanal miners and fortune seekers, including foreigners, […]

ILLEGAL miners have continued to foment chaos in the Mavuradonha Wilderness sanctuary despite a recent government ban on mining activities amid allegations that some Muzarabani District Council (MRDC) officials have been benefiting from the opaque activities. There was a vicious war last year between more than 50 indigenous miners including foreign investors and MRDC following […]

AN appeal lodged at the Supreme Court by Justice, Legal and Parliamentary Affairs minister Ziyambi Ziyambi seeking approval to impose a Reconstruction Order on coal miner Hwange Colliery Company Limited (HCCL) has been dismissed with costs. Prior to the latest judgment by the Supreme Court, under reference number SC67/22, Ziyambi had initially filed an application […]

LOKALIZE Investments, a company reportedly linked to businessman Billy Rautenbach, was allocated coal reserves by the government in the western areas of resource-rich Hwange through a transaction tantamount to “selling a national treasure for a song”. Acquisition of the mineral rights clinched by Lokalize Investments was concluded in April during an event where the then […]