News

ZIMBABWE’S oldest coal miner, Hwange Colliery Company Limited (HCCL) is to deploy millions in capital expenditure (capex) to rebuild the business after suffering first half write downs on ageing technologies. Hwange said it was held back by avoidable costs due to drastic downtimes after elevated breakdowns during the half year ended June 30 2022. This […]

Zimplats, the country’s biggest platinum mine, scaled up capital expenditure over the past year as part of its US$1.8 billion expansion plan. But how much of this was spent locally? In the financial year to June, Zimplats spent US$270.3 million on capital projects, up from US$159.1 million in 2021. These projects included developing a new […]

RIOZIM Limited, the quoted multi-resource outfit that is battling to forestall a fresh wave of headwinds, this week blamed a tough central bank forex surrender regime for its woes, as officials revealed shareholders were digging deeper into their pockets to save the operation. Financial statements for the half year ended June 30 2022 exposed the […]

ZIMBABWE’S state controlled gems miner says it is combing through alternative markets for diamonds, as it battles to outfox a devastating global embargo that has forced it to hand out products for a song. Mark Mabhudhu, chief executive officer (CEO) at Zimbabwe Consolidated Diamond Company (ZCDC), said along with the search for markets, fresh exploration […]

RioZim Limited shareholders have injected $19 billion to prop up the troubled resources outfit, which last week reported wide-ranging write downs for the half-year period to June 30, 2022. Output in the Zimbabwe Stock Exchange-listed group’s flagship gold interest fell by 30%, as diamonds operation Murowa suspended production shifting to processing low grade stockpiled dumps. […]

President Emmerson Mnangagwa has broken ground at the site of a steel plant being built at Manhize, near Chivhu. Officials are touting it as one of the biggest private investments in Zimbabwe. Once a steel producer, Zimbabwe ran its steel company Ziscosteel into the ground and now imports virtually all its steel. Zimbabwe in 2021 […]

Mimosa Platinum says it is to invest US$200 million to develop new mining areas, build a new tailings dam and improve processing efficiencies. Mimosa, jointly owned by South Africa’s Sibanye-Stillwater and Impala Platinum, produces about 124,000 ounces of platinum yearly at its operations near Zvishavane. But its current mine site, South Hill, will run out […]

THE Mines ministry has said 107 mine fatalities were recorded between January and September from about 30 accidents. Mines ministry representative Wilson Maenzanise revealed this on Wednesday during a health and safety conference organised by the National Social Security Authority in Victoria Falls. “Causes include lack of competence levels, improper mining methods, lack of defined […]

AUSTRALIA Stock Exchange-listed resources firm Invictus Energy yesterday said there could be a bigger resource at its Zimbabwean oil and gas claims than previously projected. Seismic survey results by leading petroleum consultancy, ERCE, bolstered potential prospective resource estimates at Invictus’ Cabora Bassa claims near Mahuwe to over 5,5 billion barrels of oil equivalent (boe). The […]

What does Nico Muller, the CEO of Impala Platinum (Implats) think about operating in Zimbabwe versus in South Africa? His company owns Zimplats, the largest mining operation in Zimbabwe, and and runs operations in South Africa. Last year, the company announced US$1.8 billion in new investment in Zimbabwe to develop new mining areas and expand […]