News

The formal gold mining sector in Zimbabwe is really dominated by one mining player – Caledonia Mining Corporation. But this is set to change. A company previously focused on oil and gas has changed its name and is looking to establish a prominent mining position in the country with a strategy that differs slightly from […]

Zimbabwe will not rush to use mineral reserves under a new policy that compels miners to pay half of their royalties in commodities to settle its foreign debt of US$13.2 billion. “We want to focus first on maximizing value from our minerals and then later see how we can use them to clear our arrears,” […]

AUSTRALIA Stock Exchange (ASX)-listed energy explorer Invictus Energy on Monday said it encountered some “minor” delays in preparing to drive the 12¼ hole section of its Mukuyu-1 exploration well due to rig maintenance. The firm, which kicked off drilling the first of two test wells at its Zimbabwe-based Cabora Bassa claims in Muzarabani last month, […]

A manager at a Banket farm allegedly shot dead an artisanal miner, who was part of a three-man gang that had invaded the property to prospect for gold. The shooting brings to the fore endemic conflicts surrounding land use in communal areas, resettlements and commercial farms. Zimbabwe Republic Police (ZRP) national spokesperson, Assistant Commissioner Paul […]

MASHONALAND West Provincial Mining Director, Sibongubuhle Mpindiwa, arrested Tuesday for unlawfully revoking mining claims and reportedly changing ownerships before transferring them to new beneficiaries, has been granted ZW$60 000 bail. Mpindiwa appeared Wednesday at Chinhoyi Magistrates’ Courts facing four counts of criminal abuse of office. Her court appearance was delayed and she had to spend […]

Industry and Commerce Minister, Sekai Nzenza, has sarcastically said baboons had made home of former integrated steel giant, Ziscosteel situated at Redcliff, Kwekwe. Once arguably the biggest steel manufacturing plant in Africa, corruption, mismanagement, political interference and gross incompetence brought Ziscosteel to its knees, leading to its subsequent closure in 2016. Since then, government has […]

Zimbabwe has secured US$310 million from the Export-Import Bank of India to rehabilitate six units at the Hwange Power Station in a bid to restore its capacity to 920 megawatts. Energy and Power Development Minister Zhemu Soda said the rehabilitation of the ageing thermal power plant shall be done in three phases and is expected […]

A ZIMBABWE Consolidated Diamond Company (ZCDC) bank account was garnished ZW$490 million by authorities over delays in settling tax and pension-related payments owed to the National Social Security Authority (Nssa) at a crucial phase when the state-run mining firm is emerging from a loss-making streak stretching for years. The garnished money, amounting to US$780 000 […]

GOLD production at the Victoria Falls Stock Exchange-listed Caledonia Mining Corporation jumped 11% to 21 120 ounces in the third quarter of this year, the company revealed. Last year in the same period, gold production stood at 18 965 ounces. Caledonia, which is also listed on the New York Stock Exchange and London Stock Exchange, […]