News

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, […]

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 […]