News

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 […]

A SOUTH AFRICAN man with three names, Peter Coetzee, Van Tinder Vikus, and Johannes Jacobus Cornelius Naude yesterday appeared at the Harare Magistrates Court facing charges of duping local gold dealers of US$154 000. Naude (54) of Pretoria, who was represented by lawyer Lucky Mauwa, was arraigned before magistrate Taurai Manuwere who remanded him in […]

Industry and Commerce minister Sekai Nzenza has broken silence on reports that she branded the current ZiscoSteel board as a failure in its quest to secure investment for the parastatal for the past six years. This follows reports that Nzenza expressed dissatisfaction with the performance of the ZiscoSteel board of directors. ZiscoSteel halted operations more […]

Tharisa is in talks with French energy company Total Eren for a 300MW solar plant for Karo Platinum, a new mine being developed near Selous. Land has been allocated for the solar farm and the company will feed excess energy into the national grid, Karo MD Bernard Pryor says. “We have already allocated the land, […]

A DELEGATION from the Chinese steel manufacturing giant, Delong Steel, was in the country this week scouting for investment opportunities with the possibility of the company entering into a partnership with one of Zimbabwe’s largest mining companies, Kuvimba Mining House (Kuvimba) for the revival of the defunct Zimbabwe Iron and Steel Company (Ziscosteel). The delegation, […]