News

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, […]

South Africa’s Tharisa Plc plans to spend $391 million on developing a 194,000 ounce per year platinum group metal (PGM) mine in Zimbabwe, chief executive Phoevos Pouroulis said on Wednesday. Tharisa, a co-producer of chrome concentrates and PGMs in South Africa, owns 70% of Karo Mining Holdings, developer of the Karo PGM project on Zimbabwe’s […]

Pakistan has engaged Zimbabwe with the aim to bolster business ties between the two nations ahead of the Pakistan-Africa Trade Development Conference and Single Country Exhibition set for later this year. Speaking during a meeting with Zimbabwe’s ambassador to China, Lt Gen (Rtd) Martin Chedondo, Pakistan Federal Minister for Commerce and Investments, Syed Naveed Qamar, […]

RioZim has bought Sperrgebiet Diamond Mine in Namibia as the Zimbabwean group seeks to expand in Africa. “The group has been trying to broaden its footprint in the mining industry in Africa and this acquisition was part of the strategy,” Tawanda Andrew Chiurayi, RioZim’s group company secretary, said. “We also want to diversify our assets […]

Gold miner Caledonia Mining produced 21 120 oz of gold at the Blanket mine, in Zimbabwe, for the quarter ended September 30 – a record for any quarter. This was an increase of 11% on the 18 965 oz produced in the corresponding quarter of 2021. Gold produced in the nine months to September 30 […]

Zimbabwe’s miners do not expect any significant impact from the government’s proposal to collect royalties in the form of refined minerals, the country’s Chamber of Mines said on Monday. President Emmerson Mnangagwa announced on Sunday that Zimbabwe would require companies mining gold, diamonds, lithium and platinum group metals (PGMs) to pay part of their royalties […]

Zimbabwe has announced that it wants miners of four key minerals to pay half of their royalties in the commodities. Currently, platinum miners pay 2.5% in royalties, which goes up to 5% in January. Gold royalties are at a maximum of 5%. The royalties are paid in cash. Now half the royalties from gold, platinum, […]