News

Zimbabwe shipped its first coal to China, exporting 20,000 tonnes as part of a trial run to a customer in the cement industry. The coal was transported via the Mozambican port of Beira, Linos Masimura, chairman of the Zimbabwe Coal Producers Association, said in an interview. “There are other orders which may come through,” said […]

VICTORIA Falls Stock Exchange-listed Caledonia Mining Corporation has bought Motapa Mining Company UK, whose gold claims sit next to Bilboes in southern Zimbabwe. Caledonia has already agreed a deal to buy Bilboes which made Motapa claims a “high priority”. The miner, which also owns Blanket Mine near Gwanda, bought Motapa from Bulawayo Mining Company, a […]

RESOURCES giant Tharisa Plc on Friday revealed plans to raise US$50 million by way of private placement to fund its US$391 million mining project in the country. Tharisa controls Karo Mining House (KMH), a firm which is developing a Tier 1 platinum group metals (PGMs) mining operation in Zimbabwe. The project area was acquired by […]

AUSTRALIA Stock Exchange-listed resources giant Zimplats has spent about US$372,8 million in various projects in the country, with the Mupani and Bimha mines development chewing the largest chunk. According to the company’s quarterly activities report for the period to September 30, 2022, the projects were at different stages of implementation. The mining giant said the […]

Zimbabwe-focused Australian energy firm, Invictus has revealed it is now completely self-funded after it raised AUD48,7 million (nearly US$32 million) in capital funding in the year ended June, which has gone into ongoing drilling activities in its Cabora Bassa project. Following years of failing to secure funding to start the Cabora Bassa project in northern […]

UK’s Contango Holdings, which is developing the Lubu coal project in Hwange, is raising US$8.6 million via a share placement on the London Stock Exchange to speed up mine development, eager to take advantage of rising coal prices. The company wants to ride on strong coal demand to develop its resource at Lubu, estimated to […]

THE Chamber of Mines of Zimbabwe (CoMZ) this week said a 24% hike in power tariffs was unsustainable. In an interview, CoMZ president, Colin Chibafa said high power costs curtail the industry’s viability. The Zimbabwe Electricity Regulatory Authority (Zera) last week approved an average tariff of USc12,21 per kilowatt-hour (kWh) for exporting customers. In addition, […]

A fight between Canadian and Chinese investors to control a lithium project in Zimbabwe, potentially holding lithium worth US$1.4 billion, shows the need for clearer mine claims regulation in a tightening race for the prized metal. In 2018, Canada’s CAT Strategic Metals Corporation bought an 18.9% stake in Zimbabwe Lithium Company, a Mauritius-registered company which […]

AUSTRALIAN energy firm Invictus Energy Limited (IEL) says it has found some potential hydrocarbons — the principal constituents of petroleum and natural gas — several hundred metres into drilling its Mukuyu-1 well. Invictus has made significant progress at the Cabora Bassa project, located in northern Zimbabwe near the Mozambican border since it started drilling several […]