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Zimbabwe forex receipts jumps 17.9% to $10 billion in 2024
Zimbabwe recorded a remarkable 17.9% increase in foreign currency receipts in the first nine months of 2024, reaching US$10 billion compared to US$8.5 billion during the same period in 2023. This grow...Published: 02 Dec 2024 at 07:17hrs | 89 | by Staff reporter
Zimbabwe miners propose royalties linked to metal prices
Zimbabwe's Chamber of Mines has put forward a proposal to the Ministry of Finance suggesting that royalty payments be linked to the market prices of metals, including lithium and platinum group metals...Published: 16 Nov 2024 at 14:27hrs | 95 | by Staff reporter
Mnangagwa says mineral-rich countries must not remain poor
As the world transitions toward renewable energy, Zimbabwe and other mineral-rich nations must not remain impoverished but should harness opportunities to drive sustainable growth, President Emmerson ...Published: 14 Nov 2024 at 09:24hrs | 100 | by Staff reporter
Zimbabwe platinum output to remain stable
Platinum production in Zimbabwe is expected to remain stable this year, with global demand projected to rise by 3% to approximately 226,000 ounces, according to a report released by the World Platinum...Published: 11 Sep 2024 at 08:51hrs | 60 | by Staff reporter
Mohadi rallies mining investors
Vice President Kembo Mohadi has urged investors from Indonesia and other countries to explore mining opportunities in Zimbabwe, emphasizing the importance of local value addition and beneficiation. ...Published: 04 Sep 2024 at 07:49hrs | 58 | by Staff reporter
Cyprus-based miner impressed by Karo project in Zimbabwe
Tharisa Plc, a Cyprus-based miner, has reported significant progress at its Zimbabwean operations with increased output across all facets. The company, integral to the energy transition and decarbonis...Published: 15 Jul 2024 at 08:29hrs | 174 | by Staff reporter
The Sentry report on Mutapa Fund is shallow and weak
I had the MISFORTUNE of going through a report prepared and distributed by The Sentry, possibly written by an excitable Nick Donovan. Long story short, the report is shallow and weak. Here is ...Published: 04 Jul 2024 at 16:37hrs | 14 | by MMatigary
Nigerian billionaire Zimbabwe deals falter amid capital problems
WITH the help of Zimbabwean authorities who supported him amass platinum, gold, lithium, iron ore, tin and some rare earth mineral concessions, it first appeared like he was going far.At some poin...Published: 28 May 2024 at 12:46hrs | 9 | by Staff reporter
Zimbabwe electricity imports down 57%
ZIMBABWE has started reaping savings from reduced energy imports following improved domestic electricity generation mainly from the upgraded Hwange Thermal Power Station and the rising contribution by...Published: 30 Jan 2024 at 04:22hrs | 18 | by Staff reporter
Zimplats imports power directly from Zambia
Zimplats, the country's largest platinum producer, now directly imports up to 70 megawatts from Zambia, ensuring stable operations and potentially boosting production.Last year, Zimplats signe...Published: 12 Jan 2024 at 04:59hrs | 2 | by Staff reporter
Zimbabwe lithium mines given March 2024 deadline
Lithium mining companies have been given a deadline of March 31, 2024, to submit beneficiation plans as the Government seeks to tap into substantial mineral revenues that can be generated from the ben...Published: 04 Dec 2023 at 05:28hrs | 11 | 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 | 20 | 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 | 11 | by Staff reporter
Zimbabwe to take centre stage as 'world's next lithium valley'
As the shift towards sustainable energy gains momentum across the globe, the demand for lithium is anticipated to continue its upward trajectory, leading to an increase in its price despite growing su...Published: 03 Oct 2023 at 18:21hrs | 1 | by Staff reporter
Zimbabwe - Dubbed 'the World's Next Lithium Valley' - to Speak at Critical Minerals Africa 2023
CAPE TOWN, South Africa - As Zimbabwe sets its sights on achieving a $12-billion mining industry by year-end, Pfungwa Kunaka, Permanent Secretary for Mines and Mining Development of Zimbabwe, will spe...Published: 02 Oct 2023 at 12:54hrs | | by APO
Mthuli Ncube pleads with Zimbabweans to embrace Zimdollar
TREASURY boss Mthuli Ncube has pleaded with Zimbabweans to embrace the local currency for the country to achieve growth and stability objectives of National Development Strategy 1 economic blueprint....Published: 12 Aug 2023 at 07:53hrs | 8 | by Staff reporter
Mining sector grows about 10%
The Zimbabwe Coalition on Debt and Development has said the latest ZimStat statistics show that the mining sector grew by 10.5% in 2022, up from 5.9% in 2...Published: 25 Jul 2023 at 17:13hrs | 12 | by Stephen Jakes
Pilot mining starts at Karo platinum project
Tharisa Capital, a South African co-producer of platinum group metal (PGM) and chrome concentrates, says its Karo Mining platinum project in Zimbabwe remains on track, with the first plant concrete po...Published: 18 Jul 2023 at 06:18hrs | 7 | by Staff reporter
Nigerian billionaire's US$1 billion Zimbabwean mining deals stall
NIGERIAN oil and gas billionaire Benedict Peters' massive investment plans to shell out over US$1 billion into a local platinum mining project and more into lithium, iron ore, tin, gold and rare earth...Published: 16 Jul 2023 at 13:54hrs | 14 | by Staff reporter
Mthuli Ncube feels heat
THE government's ambitious growth projections are unlikely to be met because of protracted blackouts, which have stifled exports and further weakened the local currency.In December last year, ...Published: 02 Jun 2023 at 18:17hrs | 1 | by Staff reporter
Zimbabwe stockpiles 350kg of gold after new policy
THE Reserve Bank of Zimbabwe (RBZ) has stockpiled more than 350 kilogrammes of gold collected under a new law compelling companies mining gold, diamonds, lithium and platinum group of metals (PGMs) to...Published: 02 Apr 2023 at 11:00hrs | 20 | by Staff reporter
Karo Mining's US$4,2bn Zimbabwe platinum project takes off
The Karo Mining Holdings (KMH), a Zimbabwean platinum group metal (PGMs) miner undertaking a US$4,2 billion project in Mhondoro, has commenced operations with the first ore expected in the processing ...Published: 08 Dec 2022 at 05:04hrs | 1 | by Staff reporter
Platinum seen as Zimbabwe's mainstay for foreseeable future
PLATINUM is likely to be Zimbabwe's mainstay in the foreseeable future considering the way platinum firms operating in the country are investing in new mines and smelters to increase production and su...Published: 24 Oct 2022 at 06:11hrs | 1 | by Staff reporter
South Africa's Tharisa begins $391 million Zimbabwe platinum mine build
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.T...Published: 13 Oct 2022 at 06:02hrs | 4 | by Staff reporter
Zimbabwe miners happy with Govt proposal to pay royalties in gold, diamonds, platinum
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.Presid...Published: 11 Oct 2022 at 06:10hrs | | by Staff reporter
Zimbabwe govt mulls national minerals reserve
Mining companies exploiting precious and high-value minerals in the country will now be required to cede a portion of their refined mineral produce to the Government as part payment of royalties under...Published: 09 Oct 2022 at 07:51hrs | 8 | by Staff reporter
US$250m injection in new platinum mine
Bravura Consortium, which is owned by Nigerian billionaire Mr Benedict Peters, is finalising resource exploration at its claims in Selous, Mashonaland West province, where it is set to invest US$250 m...Published: 02 Oct 2022 at 08:57hrs | | by Staff reporter
Assessing the US$12 billion mining industry target
The Zimbabwean government launched an ambitious plan to transform the mining sector into a US$12 billion export industry by end of 2023. The plan was launched in October 2019 as a key pillar to sustai...Published: 11 Aug 2022 at 12:01hrs | 3 | by Victor Bhoroma
Mnangagwa's govt to mortgage platinum royalties to pay off farmers
ZIMBABWE will mortgage platinum mining royalties to pay US$3.5 billion in compensation to white farmers whose land was expropriated by the government, moving a step closer to resolving Robert Mugabe's...Published: 07 Aug 2022 at 18:50hrs | | by Staff reporter
Zimbabwe secures 300MW
ZESA Holdings has secured a 300 megawatt (MW) power import deal with regional suppliers as the energy crisis threatens to cripple industry and domestic consumers, confidential documents show.T...Published: 22 Jul 2022 at 10:43hrs | 7 | by Staff reporter
'Zimbabwe economic outlook grim'
ECONOMISTS have warned that Zimbabwe's economic outlook looks "dark" given the country's widening trade deficit following the government's suspension of customs duties on imported consumer goods....Published: 08 Jul 2022 at 07:36hrs | 8 | by Staff reporter
Dubai Zimbabwe's second-largest gold market
THE United Arab Emirates (UAE) has consolidated its position as Zimbabwe's second-largest export destination as gold shipments to the region continue to grow, a new report by the country's statistical...Published: 21 Jun 2022 at 15:24hrs | 10 | by Staff reporter
African Mining Sector Set for Strong Growth in 2022
Johannesburg - 16 May 2022 - With mining companies currently enjoying high prices, exceptional production performance and robust supply chains, the mining team from Stanbic Bank's parent company, Stan...Published: 16 May 2022 at 11:52hrs | 16 | by Mark Buncombe, Head of Mining and Metals at Standard Bank Group
Zimbabwe's trade deficit narrows
Zimbabwe recorded a sharp decline in trade deficit in January this year after exports surged modestly compared to the prior month, December 2021, official statistics show.In January 2022 Zimba...Published: 11 Apr 2022 at 06:27hrs | 1 | by Staff reporter
All Zimbabweans must benefit from mineral Resources: Zimcodd
THE Zimbabwe Coalition of Debt and Development has reported that in the week under review, Zimbabwe registered a big milestone in the mining of Platinum Group Minerals (PGMs) with the addition o...Published: 07 Apr 2022 at 11:08hrs | 1 | by Stephen Jakes
Mining sector key to Zim economy: Zimcodd
The mining sector is a key sector for Zimbabwe as it contributes about 60% to annual export receipts and at least 14% to Gross Domestic Product (GDP).This was revealed by the Zimbabwe Coalitio...Published: 16 Mar 2022 at 11:30hrs | 6 | by Stephen Jakes
Mnangagwa blocks another fuel price increase
PRESIDENT Mnangagwa has directed the Government to enforce domestic remedies, including a reduction of duty on petroleum products, to control the price of fuel which went up last week on account of ge...Published: 13 Mar 2022 at 08:01hrs | | by Staff reporter
Zimbabwe must do more to stop mineral revenue leakages: Zimcodd
While good mineral resource governance seeks to ensure the exploitation of mineral resources for the benefit of the economy, improvement of the quality of life and poverty reduction (Diallo, 2015), Zi...Published: 09 Mar 2022 at 12:47hrs | | by Stephen Jakes
Govt to stimulate gold production
Government has put in place a host of measures to boost gold production starting this year as it angles the sector to contribute significantly towards the attainment of national vision 2030, Mines and...Published: 06 Mar 2022 at 08:15hrs | | by Staff reporter
SA companies caught in Russia-Ukraine crossfire
JSE counters with even a remote connection to the Russia-Ukraine conflict have taken a pounding in the past week as gun-shy investors decided they were not worth the risk.Leading the fall was ...Published: 02 Mar 2022 at 05:39hrs | 9 | by Staff reporter
Zimbabwe loses billions in mineral revenue
ZIMBABWE continues to export its major minerals in a raw or semi-processed form, resulting in the country losing billions of dollars in potential revenue, official data has shown.According to ...Published: 28 Feb 2022 at 05:21hrs | 1 | by Staff reporter
Gold leads surge in Zimbabwe export earnings
ZIMBABWE'S gold export earnings improved by 44 percent between November and December last year to clock US$248,1 million after the country exported 4 417 kilogrammes of the yellow metal, official figu...Published: 23 Feb 2022 at 05:43hrs | | by Staff reporter
Mnangagwa's 'second Republic' as scandal-prone as Mugabe's govt
THERE is no difference between the administration of former president Robert Mugabe and that of his successor Emmerson Mnangagwa when it comes to public procurement as the two republics are marred by ...Published: 22 Feb 2022 at 07:23hrs | | by Staff reporter
Zimbabwe exports hit record high
Zimbabwe recorded its highest ever foreign currency receipts in 2021, boosted by strong commodity prices and increase in international remittances, official figures show.Foreign receipts amoun...Published: 09 Feb 2022 at 05:18hrs | | by Staff reporter
Zimbabwe exports increase by 35,5%
THE value of exports from Zimbabwe increased by 35,5 percent in the first six months of the year to US$2,52 billion compared to US$1,86 billion in the corresponding period last year, official data sho...Published: 26 Aug 2021 at 06:35hrs | | by Staff reporter
Raw minerals dominate Zimbabwe's exports
RAW minerals continue to dominate Zimbabwe's export list amid calls by experts for the government to expedite value addition and beneficiation of the precious commodities.The Reserve Bank of Z...Published: 03 Jul 2021 at 21:31hrs | 2 | by Staff reporter
Tharisa buys Great Dyke chrome asset in Zimbabwe expansion
THARISA, the Johannesburg Stock Exchange-listed platinum and chrome producer, has acquired Salene Chrome Zimbabwe for US$3 million as part of its growth strategy in the country.Salene Chrome i...Published: 07 May 2021 at 06:40hrs | | by Staff reporter
Great Dyke Investments gets tax exemption
Government has exempted platinum miner Great Dyke Investments (GDI) from paying income tax for the next five years. GDI is 50% owned by local consortium Landela and Afromet JSC, wholly owned b...Published: 28 Jan 2021 at 06:53hrs | 1 | by Staff reporter
Zimbabwe mineral exports surpass target
Zimbabwe's mineral exports, excluding gold and silver, for the year 2020 surged by 27 percent, earning the country US$2,4 billion, the Minerals and Marketing Authority of Zimbabwe (MMCZ) has said. ...Published: 18 Jan 2021 at 05:50hrs | | by Staff reporter
Zimbabwe mineral exports exceed target
ATTRACTIVE international prices for major minerals except gold, coupled with stability in the mining sector despite the COVID-19-related lockdowns has seen Zimbabwe's mineral exports exceed the projec...Published: 04 Jan 2021 at 22:25hrs | | by Staff reporter
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