Articles tagged 'mining'

Premier to commence commercial mining 22 June 2017 HARARE - London Stock Exchange-listed mining exploration and production company, Premier African Minerals Limited (Premier), anticipates beginning commercial mining at its Zulu Lithium and Tantalum mine following positive metallurgical results on the site. Premier’s chief executive George Roac...
Zim gold earnings up 3,4pc 31 May 2017 HARARE - Zimbabwe's gold earnings were up 3,4 percent in the first quarter to $275 million, after realising a 4,8-tonne output, official figures show. Data from the Reserve Bank of Zimbabwe (RBZ) attributed the earnings improvement to firming international prices. “Gold prices, however, rec...
RBZ takes over diamond operations 23 May 2017 HARARE - The Reserve Bank of Zimbabwe (RBZ) has taken over the production of diamonds in the country in an effort to promote transparency in the sector. This comes as the Zimbabwe Consolidated Diamond Company (ZCDC), which was formed last year after government expelled all diamond miners in Ma...
I miss football but not the money - Masomere 21 May 2017 HARARE - Luke Masomere is considered to be one of the most experienced football coaches in the country but sadly the well-travelled gaffer remains nowhere near the sport he loves so much. Instead, while still feeling a little pang of regret at no longer being involved in the game, the self-pro...
Aussie firm to build $300m platinum refinery 18 May 2017 HARARE - Zimbabwe has secured an independent Australian partner to build a $300 million platinum refinery, under a joint venture arrangement with State-owned Zimbabwe Mining Development Corporation (ZMDC) and a local player. Mines minister Walter Chidakwa yesterday said the company —  Kell Tec...
ZCDC directors face prosecution 11 May 2017 HARARE - Zimbabwe Consolidated Diamond Company (ZCDC) directors — including Mines ministry permanent secretary Francis Gudyanga — face prosecution after the firm defied a court order barring it from looting Grandwell Holdings' (Grandwell) diamond ore in Chiadzwa. Grandwell, which holds a 50 pe...
MPs demand Gudyanga dismissal 10 May 2017 HARARE - African Parliamentarians Network Against Corruption (APNAC) has demanded the dismissal of Mines ministry permanent secretary Francis Gudyanga over his alleged corrupt activities in the diamond sector. This comes after Parliament's Mines portfolio committee recommended that the Civil S...
Reprieve for ailing coal miner Hwange 8 May 2017 HARARE - Troubled coal miner, Hwange Colliery Company Limited (HCCL), says its creditors have voted to form a scheme of arrangement saving the firm from judicial management. HCCL scheme chairperson, Andrew Lawson, last week said that out of the 80 creditors who attended the voting meeting, 95,...
Parly demands return of diamond miners 5 May 2017 HARARE - Zimbabwe's Parliament has asked President Robert Mugabe’s government to open up the diamond sector to private players, a development which might give hope to gem miners who were forcibly kicked out by Mines ministry last year. This comes as the government, which shut down private diam...
Zim pays Russians $5m for diamonds 4 May 2017 HARARE - Zimbabwe has paid $5 million-plus to buy out Russian-led miner DTZ-OZGEO for expropriating its diamond claims in Chimanimani. This also comes as parliament is cranking up pressure on President Robert Mugabe to re-open the Marange gem fields to independent players before year-end, as a...
Mugabe must revisit diamond industry 3 May 2017 HARARE - As Zimbabwe’s economy continues to suffer and cash shortages escalate to alarming levels, President Robert Mugabe must move swiftly to save the diamond industry, which was for long a source of cash for the economy before government decided to forcibly nationalise the industry. It is a...
Zimplats commits to Zim 2 May 2017 HARARE - Australia Stock Exchange-listed platinum producer, Zimplats, has vowed to remain in Zimbabwe despite threats by President Robert Mugabe’s government to seize more than half of the company’s land. This comes as other international mining giants such as Rio Tinto bowed out of the minera...
Court gives govt diamond miner ultimatum 27 April 2017 HARARE - The High Court has given the government-owned Zimbabwe Consolidated Diamond Company (ZCDC) an ultimatum to comply with an order stopping it from looting Grandwell Holdings (Grandwell)'s mining ore in the Chiadzwa mining fields. This comes after Grandwell, which owns 50 percent shareho...
Zimplats, govt in talks over land grab 27 April 2017 HARARE - Zimbabwe's largest platinum producer, Zimplats, says it is in discussions with government over an impending compulsory acquisition of 28 000 hectares of its land by the State. The Alex Mhembere-led platinum mining company yesterday said while government had already made moves to grab ...
Unki ramps up production 26 April 2017 HARARE - The world's largest platinum producer Anglo American Platinum (Amplats) says production at its Zimbabwean unit went up two percent to 18 900 ounces in the quarter to March 2017. Amplats owns and operates Unki Platinum Mine (Unki) near Shurugwi. In a statement accompanying its quart...
Coal miner Hwange signs 25-year deals 20 April 2017 HARARE - Zimbabwe's largest coal miner, Hwange Colliery Company Limited (Hwange), has signed two 25-year coal supply agreements with two local companies. The initiatives will see the company supplying more than 400 000 tonnes of coal per month to State-owned Zimbabwe Power Company and independ...
Zim's desperate gold rush sucks in cops 13 April 2017 HARARE - Police officers have joined scores of illegal gold diggers hacking away at the verdant hills in remote Matabeleland South, glimpsing an opportunity to shore up their meagre salaries, but inflicting an intractable problem of environmental degradation. Speaking in the Senate last week, ...
Zim importing coal 5 April 2017 HARARE - Zimbabwe is importing coal from Mozambique for tobacco curing, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said. Speaking at the tour of Feruka in Mutare organised by Verify Engineering, Mangudya said the country has been forced to import because Hwange is not producing....
'RioZim operations under threat' 4 April 2017 HARARE - Auditing firm Ernst & Young Chartered Accountants Zimbabwe (EY) has raised a red flag over RioZim’s operations despite the listed resources firm registering a $2,5 million profit last year. "The group’s current liabilities exceeded its current assets by $30,8 million,” EY said in a st...
New diamond 'find' in Mutare 3 April 2017 HARARE - Thousands of families could be relocated from Penhalonga, just outside Mutare, amid claims that rich diamond deposits have been discovered in the area — although the government is dampening expectations. This comes as production at the Marange diamond fields, also in Manicaland, has p...
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...