News

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 […]

Oil and gas explorer Invictus Energy (IVZ) has bolstered the potential prospective resource of its Cabora Bassa project in Zimbabwe to over 5.5 billion barrels of oil equivalent (boe). The company today said an independent technical report from ERCE estimated a prospective resource of 1.2 billion boe for five “drill-ready” prospects in the project area: […]

The Zimbabwe Energy Regulatory Authority (ZERA) is encouraging people to harness liquefied petroleum gas as alternative energy sources. The call by ZERA comes at a time when the country is dogged by erratic power supplies and experiencing rolling blackouts caused by load shedding. Speaking at a recent energy workshop in Kwekwe, ZERA alternative energy expert […]

THREE armed robbery suspects believed to be part of the gang that robbed 11,9kg of gold at How Mine, near Bulawayo, have been arrested. According to police, one of the suspects was fished out of a South African bound private car attempting to flee, while the other two had earlier been nabbed hours after the […]

Zimbabwean miners could pay half of their royalties in minerals as part of a plan by Government to build up mineral reserves. Currently, platinum miners pay 2.5% in royalties. They start paying 5% in January. Gold royalties are at 5%, which is what miners pay when the gold price is above US$1,200 an ounce. They […]

VICTORIA Falls Stock Exchange-listed resources firm, Caledonia Mining Corporation yesterday said it has plans to restart an oxides operation at Bilboes Gold near Bulawayo. Caledonia recently took over Bilboes Gold in a multimillion-dollar deal. In a market update, Caledonia said the plan was to create a cash-generating operation within a period of six months. Under […]

CURRENT liabilities at the listed multi-asset resource outfit, RioZim, barrelled over current assets by $13 billion during the half-year to June 30, 2022, financial statements showed, as terrified authorities feared the firm could collapse. Firms sitting on higher current liabilities than assets sweat over working capital – the liquidity that managers require to fund day-to-day […]