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State diamond firm lays off hundreds to avoid collapse
Zimbabwe's state-controlled diamond miner, the Zimbabwe Consolidated Diamond Company (ZCDC), has launched a major retrenchment exercise in a desperate bid to stave off collapse, following a brutal cra...Published: 13 Jul 2025 at 11:08hrs | 133 | by Staff reporter
Zimbabwe govt squeezes miners for more forex
Zimbabwe's mining industry is facing increased strain as government departments intensify demands for miners to pay taxes and fees in foreign currency-on top of the mandatory 30% surrender of ex...Published: 16 Jun 2025 at 14:48hrs | 197 | by Staff reporter
IPPs unveil 16 000MW power project in Zimbabwe
Private players are spearheading over 16,000 megawatts (MW) worth of power generation projects across Zimbabwe to help ease the country's worsening electricity shortage, Intensive Energy Users Group (...Published: 06 Jun 2025 at 12:06hrs | 194 | by Staff reporter
Zimbabwe gold reserves rises 12%
The Reserve Bank of Zimbabwe (RBZ) has announced that its gold reserves have grown by 12% to over 3.1 tonnes since March this year, bolstering the country's efforts to build a more stable foreign exch...Published: 06 Jun 2025 at 12:06hrs | 108 | by Staff reporter
Refineries under threat as RBZ gulps more forex
Zimbabwe's biggest mining companies have sounded alarm bells over the potential suspension of crucial expansion projects - including refineries valued at over US$432 million - following the Reserve Ba...Published: 30 May 2025 at 12:18hrs | 653 | by Staff reporter
Zimbabwe mining sector job carnage only a tip of the iceberg
Zimbabwe's mining sector recorded a staggering loss of 1,216 jobs in 2024 - a 314% increase from the previous year - according to a recent report by the Chamber of Mines of Zim...Published: 26 May 2025 at 08:20hrs | 171 | by Staff reporter
Zimbabwe's gold sector performing exceptionally well, but
Zimbabwe's gold sector is experiencing a period of robust growth, yet mining leaders and experts are asking whether the country is fully capitalising on its mineral wealth.This was the central...Published: 24 May 2025 at 09:00hrs | 68 | by Staff reporter
Zimbabwe mining industry to grow by 7% in 2025
Zimbabwe's mining industry is projected to grow by more than 7 percent in 2025, spurred by stellar performances in gold and coal production, according to the Chamber of Mines of Zimbabwe (CoMZ)....Published: 18 May 2025 at 11:48hrs | 279 | by Staff reporter
Zimbabwe may surpass 2024 gold production target
Zimbabwe's gold mining sector has witnessed remarkable growth over the past decade, with production nearly doubling since 2015. The country is now on track to surpass its 35-tonne gold production targ...Published: 15 Dec 2024 at 09:09hrs | 3975 | by Staff reporter
Chinese debt threatens to switch off Zimbabwe's Hwange
Zimbabwe's industrial sector is on edge this week as concerns grow over the future of the Hwange Thermal Power Station, a critical asset for the country's beleaguered power grid. With power utility Ze...Published: 24 Nov 2024 at 10:14hrs | 11749 | by Staff reporter
Zimbabwe's gold output surges 33%
Zimbabwe's gold production surged by 33 percent in the third quarter of 2024, with output rising to 10.3 tonnes, compared to 7.7 tonnes in the previous quarter, according to official data from Fidelit...Published: 30 Oct 2024 at 07:53hrs | 151 | by Staff reporter
Huawei in Zimbabwe solar power deal for mines
Leading renewable energy provider Grid Africa has entered into a strategic partnership with global technology giant Huawei to implement a 72MW solar power project aimed at supplying electricity to min...Published: 23 Oct 2024 at 07:40hrs | 264 | by Staff reporter
RBZ holds ZiG50, ZiG200 from circulation
The Reserve Bank of Zimbabwe (RBZ) has decided not to introduce ZiG50 and ZiG200 notes to the market in the near future due to concerns that larger denominations could fuel inflation, according to cen...Published: 31 May 2024 at 21:16hrs | | by Staff reporter
Gold set to anchor Zimbabwe dollar
GOLD has emerged as the most ideal instrument likely to be used to anchor the structured currency the Government is pursuing to stabilise the exchange rate and curtail persistent inflation.The...Published: 10 Mar 2024 at 06:23hrs | 13 | by Staff reporter
Zimbabwe govt misses US$12bn mining target
LEADING economists and mining industry experts warned this week the Ministry of Mines and Mining Development was manipulating data to give an impression that its ambitious US$12 billion target will be...Published: 22 Dec 2023 at 18:13hrs | 14 | by Staff reporter
Zimbabwe sees surge in mining investments
Zimbabwe's mining sector has witnessed a surge in investment over the past two years, with several companies investing heavily in exploration, expansion, and plant construction.A recent survey...Published: 09 Nov 2023 at 05:53hrs | 23 | by Staff reporter
Mineral revenue slumps 29%
In the first half of this year, Zimbabwe's mineral revenue experienced a 29% decline, amounting to US$2.6 billion, owing to several challenges, including falling commodity prices, foreign currency sho...Published: 03 Nov 2023 at 05:44hrs | 14 | by Staff reporter
'Mnangagwa being lied to by his ministers'
Gift Mugano, an economist and government critic, criticized President Emmerson Mnangagwa's administration, suggesting that his ministers were providing misleading information about the state of the ec...Published: 09 Oct 2023 at 06:14hrs | 2 | by Staff reporter
Zimbabwe business calls on presidential poll loser to concede defeat
ZIMBABWE'S industries this week called for a peaceful post-election period, as they made a passionate plea to frontrunners in the presidential poll to concede defeat and help the country focus on rebu...Published: 29 Aug 2023 at 08:12hrs | 4 | by Staff reporter
Zimbabwe urges unity among lithium miners
GOVERNMENT has called on lithium players to work together to establish value-addition plants for lithium concentrates.Currently there are around eight different lithium exploration and mining ...Published: 20 Jun 2023 at 06:53hrs | 7 | by Staff reporter
'Shut down RBZ's irrelevant forex auction system'
ECONOMIC analysts this week said the central bank must close the foreign exchange auction system, saying it was no longer serving its purpose.The Reserve Bank of Zimbabwe (RBZ) last month limi...Published: 09 Jun 2023 at 06:33hrs | 5 | by Staff reporter
'RBZ directive to trigger more power cuts'
EXPERTS have warned of more power outages after the central bank ordered non-exporters to settle their energy bills in Zimbabwean dollars in a bid to keep the under-fire local currency relevant....Published: 09 Jun 2023 at 06:33hrs | 3 | by Staff reporter
Zimbabwe mining sector energy demand to surge 344%
ZIMBABWE'S mining sector will require in excess of 2 000 megawatts (MW) of electricity in the next three to four years, up 344% compared to current needs, as industry expands, businessdigest revealed....Published: 02 Jun 2023 at 06:48hrs | 5 | by Staff reporter
Mangudya rules out dollarisation
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday claimed that past experiences, rather than basic economic issues, were to blame for the country's exchange rate volatility, as he ruled ...Published: 02 Jun 2023 at 06:46hrs | 1 | by Staff reporter
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 1 | by Staff reporter
Zimbabwe's US$12 billion mining economy on course
ZIMBABWE'S mining industry has registered significant strides towards realising the ambitious US$12 billion milestone by the end of this year, Mines and Mining Development Minister Winston Chitando ha...Published: 01 Jun 2023 at 06:41hrs | 1 | by Staff reporter
Gono elected new Chamber of Mines president
THE Chamber of Mines of Zimbabwe has elected new executives to lead the organisation until next year.Announcing the new office bearers during the 2023 mining conference this afternoon, Chamber...Published: 31 May 2023 at 21:07hrs | 22 | by Staff reporter
Looting fears mount in Zimbabwe
ZIMBABWE'S gold markets were overrun this week by fears that the recently announced steep increase of 400% in gold dealing licence fees would result in a sharp rise in smuggling of the precious ...Published: 24 Mar 2023 at 06:29hrs | 1 | by Staff reporter
Rushwaya demands lithium ban lifting
CONTROVERSIAL mineral dealer Henrietta Rushwaya wants President Mnangagwa to remove the ban on lithium ore exports, saying a stockpile of 2 million tonnes has built up since December.Rushwaya ...Published: 20 Mar 2023 at 15:06hrs | 13 | by Staff reporter
Zimbabwe miners in urgent plea for forex
THE Chamber of Mines of Zimbabwe says it is engaging authorities to come up with mechanisms that can accommodate the foreign currency requirements for the sector as shortages are weighing down the sec...Published: 24 Nov 2022 at 04:59hrs | 30 | by Staff reporter
Zimbabwe starts disbursement of 4 500 small gold coins
THE Reserve Bank of Zimbabwe (RBZ) will tomorrow start disbursing 4 500 smaller units of Zimbabwe's Mosi-oa-Tunya gold coins to banks ahead of planned release of the bullion coins in the market on Tue...Published: 10 Nov 2022 at 04:54hrs | 2 | by Staff reporter
Zimbabwe gold deliveries climb to 26 tonnes
Gold deliveries to Fidelity Gold Refinery in the nine months to September 2022 grew by 36 percent to 25,7 tonnes, from 18,9 tonnes in the same period a year earlier, raising the prospect that Zimbabwe...Published: 09 Oct 2022 at 07:50hrs | 5 | by Staff reporter
SA blackouts bleed Zimbabwe industry
ZIMBABWEAN industries, already battered by a long running economic crisis, have been thrown off balance by rolling blackouts in South Africa, which escalated this week, briefly grounding trade....Published: 23 Sep 2022 at 19:24hrs | 4 | by Staff reporter
Fresh discovery at Zimbabwe oilfields
AUSTRALIA-headquartered oil and gas outfit, Invictus Energy announced fresh discoveries at its Zimbabwe-based Mukuyu gasfields on Monday, as it laid out plans to blast its first test well from next mo...Published: 26 Jul 2022 at 06:41hrs | 1 | by Staff reporter
Zimbabwe mines shut out suppliers
ZIMBABWE'S mining industry warned yesterday that domestic suppliers risked being shut out of the industry's value chain after hiking prices by 100%.The price rage involves deals in United Stat...Published: 22 Jul 2022 at 10:41hrs | 11 | by Staff reporter
Pay half salaries in US$: NECs
THE National Employment Councils (Necs) has directed private sector employers to pay half of their salaries in foreign currency as appetite for the free-falling local currency wanes.Nec yester...Published: 17 Jun 2022 at 08:28hrs | 2 | by Staff reporter
RBZ shifts blame to companies
THE Reserve Bank of Zimbabwe (RBZ) says a relentless depreciation of the domestic currency experienced in the past few months has been triggered by excessive currency manipulation by firms pursuing "s...Published: 12 Jun 2022 at 09:21hrs | | by Staff reporter
'Smuggler' Rushwaya wants gold possession de-criminalised
CONTROVERSIAL Zimbabwe Miners Federation (ZMF) president Henrietta Rushwaya has made a shocking plea to the Zanu-PF government to repeal a piece of legislation which criminalises the possession of gol...Published: 11 Jun 2022 at 20:42hrs | 12 | by Staff reporter
Zimbabwe gold output jumps 86,3%
ZIMBABWE'S total gold output for the first five months of the year spiked by 86,3 percent to 13,171,58kg compared to 7,068,85kg in the corresponding period in 2021, official data show.Accordin...Published: 08 Jun 2022 at 08:57hrs | 21 | by Staff reporter
Zesa needs US$300m to address backlog
ZESA Holdings has a backlog of 305 000 domestic customers who need to have electricity connected to their homes, but requires a whooping US$300 million to connect all of them, a senior official has sa...Published: 06 Jun 2022 at 09:59hrs | 1 | by Staff Reporter
Mnangagwa calls miners to order
PRESIDENT Emmerson Mnangagwa yesterday threatened to unleash "draconian" laws on miners in order to bring sanity to the sector following a string of environmentally disastrous missteps.He also...Published: 04 Jun 2022 at 19:56hrs | | by Staff reporter
'Full dollarisation of Zimbabwe economy will never happen'
ZIMBABWEANS must cherish the partial dollarisation that is in place, and stop dreaming about full dollarisation, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, said yesterday.Speak...Published: 04 Jun 2022 at 19:52hrs | 8 | by Staff reporter
Mnangagwa headlines miners conference
PRESIDENT Mnangagwa will be guest of honour at this year's annual conference of the Chamber of Mines of Zimbabwe to be held in Victoria Falls.The conference runs from tomorrow to Saturday unde...Published: 01 Jun 2022 at 06:32hrs | | by Staff reporter
Mine union scoffs at 108% wage increase
The Zimbabwe Diamond, Allied and Mineral Workers Union Zdamwu) has described as peanuts the 108% salary increase approved by the National Employment Council, Associated Mine Workers Union of Zimbabwe ...Published: 24 May 2022 at 07:24hrs | | by Staff reporter
Zimbabwe mine workers get 108% wage hike
ZIMBABWE'S mining industry workers have been awarded a 108,5% wage hike following collective bargaining negotiations, which will see the lowest paid employee in the sector earning $93 074 per month....Published: 23 May 2022 at 06:41hrs | | by Staff reporter
Zimbabwe suspends platinum levy
THE Government has suspended the 5 percent levy on raw platinum exports after miners lobbied the Treasury for its removal citing its detrimental impact on operations and the commitment by industry pla...Published: 17 May 2022 at 06:31hrs | 3 | by Staff reporter
Zimbabwe's Godfrey Gomwe appointed CEO of SA top mining company
Zimbabwean Godfrey Gomwe has been appointed CEO of South Africa's coal company MC Mining. Gomwe takes over as MC Mining pushes to start its delayed flagship project, the US$35m Makhado coal mine in Li...Published: 29 Apr 2022 at 18:17hrs | 20 | by Mandla Ndlovu
Zimbabwe eyes improvement in competitiveness rankings
Zimbabwe is targeting to improve competitiveness and ease of doing business ranking riding on the use of technology by firms, Business Times can report. The country's rankings have been sliding over t...Published: 08 Apr 2022 at 09:16hrs | 2 | by Staff reporter
Zimbabwe is best investment destination, claims Implats
South Africa's Impala Platinum Holdings (Implats) has described Zimbabwe as the best investment jurisdiction due to its predictable and supportive operating environment, which has allowed its investme...Published: 08 Apr 2022 at 06:42hrs | 2 | by Staff reporter
Zimbabwe targets 40 tonnes of gold
Gold deliveries to Fidelity Printers and Refiners (FPR), the country's sole authorised buyer of the mineral, jumped 137 percent in the first two months of 2022 to 5,1 tonnes from 2,17 tonnes in the sa...Published: 03 Apr 2022 at 08:19hrs | 2 | by Staff reporter
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