Articles tagged 'mining'

India seeks increased diamond trade 24 March 2017 BULAWAYO - India said it is seeking to develop Zimbabwe’s diamond sector through increased trade. One of the emerging Asian giant’s leading industry bodies, I am SME of India, yesterday said it was looking for ways to partner with local diamond producers. “It’s deplorable that Africa in gen...
Caledonia invests $54m in gold mine 23 March 2017 HARARE - Zimbabwe-focused resources firm, Caledonia Mining Corporation (Caledonia) said it plans to invest $54 million over a three-year-period on its Blanket Mine (Blanket) as part of strategies to produce 80 000 ounces of gold. The group’s chief executive, Steve Curtis, on Tuesday said the L...
Call for Mpofu wealth probe 22 March 2017 HARARE - Zimbabwe's Anti-Corruption Commission must investigate allegations that Macro-Economic Planning minister Obert Mpofu (pictured) allegedly siphoned diamonds money to amass his vast wealth, the Tendai Biti-led People's Democratic Party (PDP) said. This comes amid a case in which the for...
Minister queried over 'missing' $100m 17 March 2017 HARARE - Mines minister Walter Chidakwa was taken to task in Parliament on Wednesday over a “missing” $100 million loan that President Robert Mugabe said had been given to small scale miners. After being asked by MDC MP for Musikavanhu Prosper Mutseyami to shed more light on the matter, Chidak...
Zimplats swings back to profit 27 February 2017 HARARE - Zimbabwe's largest platinum producer, Zimplats, has recorded a $16,1 million profit in the half year to December 2016 compared to a loss of $0,6 million registered in the previous corresponding period. The group’s chief executive, Alex Mhembere, last week attributed the record profits...
Miners call for lower power tariffs 7 February 2017 HARARE - Zimbabwean miners have urged national power utility, Zesa Holdings, to reduce its electricity tariffs in an effort to boost the country’s mineral output. Mines minister Walter Chidakwa last week said he was lobbying for a special power tariff of $0,04 per kilowatt hour (kwh) from the ...
Zim to ramp up chrome production 3 February 2017 HARARE - Zimbabwe is planning to export over 800 000 tonnes of chrome this year, following the country’s move to re-distribute land previously held by miners. Mines minister Walter Chidakwa yesterday said government was moving to re-allocate 21 170 hectares (ha) of land that once belonged to t...
ZimAlloys scrounges for new investor 30 January 2017 HARARE - Despite government’s intention of compulsorily acquiring 22 000 hectares (ha) of land claims from ferrochrome producer, Zimbabwe Alloys (ZimAlloys), the former Anglo American subsidiary is scouting for a new investor. In a notice published by the company’s judicial manager last week, ...
Caledonia hits record gold output 16 January 2017 HARARE - London-listed resources firm, Caledonia Mining Corporation Plc (Caledonia), has enjoyed a record quarter for gold production from its Blanket mine in Zimbabwe. Some 13 591 ounces of gold were produced in the last three months, an 18 percent increase on a year ago and one percent up qu...
Zim mulls new mining tax 10 January 2017 HARARE - Zimbabwe is planning to introduce a new mining tax this year aimed at boosting the country's depleting revenue streams, businessdaily has established. Finance minister Patrick Chinamasa said the country has engaged an unnamed tariff consultancy firm from Norway to come up with the new...
Mugabe forges ahead with Zimplats land grab 6 January 2017 HARARE - Zimbabwe government is going ahead with plans to compulsorily acquire 28 000 hectares of mining land in Kadoma held by the country's biggest platinum miner, Zimplats. Through the second publication of a notice to the effect, President Robert Mugabe — ignoring various warnings from mar...
Zim miners target increased output 7 December 2016 HARARE - Zimbabwean miners are targeting increased output next year on the back of improved capacity utilisation, the country’s Chamber of Mines has said. A survey conducted by the mining industry body, launched in the capital yesterday, revealed that most miners expect fortunes to turn around...
RioZim eyes higher gold production 30 October 2016 KADOMA - Listed resources firm, RioZim, says it is targeting a 200 kilogrammes (kg) monthly gold production, following the commissioning of its Cam and Motor Plant and its recent acquisition of Dalny Mine Complex (Dalny). The firm’s outgoing chief executive, Noah Matimba, on Wednesday said the...
Metallon ups gold production 23 October 2016 HARARE - Zimbabwe's leading gold producer Metallon Corporation (Metallon) picked the perfect quarter to deliver robust production growth. According to the company’s preliminary third-quarter production report, its gold production jumped 18 percent to 26 622 ounces in the three months to Septem...
Zim to rake $2,3bn from minerals 14 October 2016 HARARE - Zimbabwe is expected to rake at least $2,3 billion this year from mineral exports, Mines minister, Walter Chidakwa, has said. Chidakwa told delegates at the National Economic Consultative Forum (NECF) that the country was earning at least $45 million each week from minerals, adding Zi...
Coal miner Hwange narrows loss 4 October 2016 HARARE - Troubled coal miner, Hwange Colliery Company Limited (HCCL), narrowed its half year losses to $28,4 million from $44,1 million recorded last year on the back of reduced administration costs and a string of other cost-containment measures implemented during the period. HCCL chairman Wi...
British firm commences diamond drilling in Zim 20 September 2016 HARARE - British miner Premier African Minerals (Premier) said it has commenced an extensive diamond drilling programme on its Zulu Lithium Project in Zimbabwe. The programme, which Premier said will be on the largest undeveloped lithium-enriched resource in Zimbabwe, is aimed at testing for s...
Hwange Colliery to shed workforce 12 September 2016 HARARE - Troubled coal miner, Hwange Colliery Company Limited (HCCL), is set to retrench over 1 000 employees and dispose of its non-core assets in an effort to streamline operations, a Cabinet minister said. Finance minister Patrick Chinamasa last week announced that government — with a 37 pe...
Women demand more from mining companies 5 September 2016 HARARE - Battles between mining companies, the municipalities that host them and affected local residents are now becoming bloody following the fatal shooting of gold panner Tafadzwa Lewani by Redwing Mine security guards in Penhalonga late last month. Women, who bear the brunt of the impact o...
Mixed fortunes for Asa Resources 16 August 2016 HARARE - Asa Resources Plc (Asa), formerly Mwana Africa, said it recorded mixed fortunes in the quarter to June after gold and diamond sales registered strong performances while nickel sales failed to rise to the occasion. In the period under review, the group’s gold sales went up two percent ...
Metallon loses 6 000 ounces gold to power cuts 11 August 2016 HARARE - Zimbabwe's largest gold producer Metallon Corporation (Metallon) says it is working on solutions to supplement power supply after losing nearly 6 000 ounces of gold to power interruptions in six months. The miner's chief executive, Ken Mekani, yesterday said Metallon lost 112 hours of...
Sinosteel dumps Zimasco? 4 August 2016 HARARE - Zimasco (Private) Limited (Zimasco)’s revival prospects have continued to dim as the company has reportedly failed to secure a $7 million bailout from its major shareholder Sinosteel Africa Corporation (Sinosteel) to finance short-term operations. This also comes as the Midlands-based...
Miners project $2bn export receipts 29 July 2016 HARARE - Zimbabwean miners are expected to contribute about $2 billion to the fiscus generated from export receipts this year on the back of volatile metal prices, the Chamber of Mines has predicted. The organisation’s president Toi Muganyi said the sector, which has seen an increase in small-...
Zim to miss 2016 diamond target 29 July 2016 HARARE - Zimbabwe is expected to miss its six million carat 2016 diamond output projection by 58 percent following Mines minister Walter Chidakwa’s decision to boot out all, but two, of the country’s diamond miners, it has emerged. Chamber of Mines Zimbabwe president Toi Muganyi yesterday told...
Diamond production down 76pc 19 July 2016 HARARE - Zimbabwe's diamond production has declined by 76 percent following the country’s compulsory acquisition of Marange fields in February this year, latest figures show. Information released by the central bank revealed that diamond output deteriorated to 152 475 carats in the first quart...