Gold is rallying globally and leading producers around the world are rubbing their hands in anticipation of a windfall. But unable to pay gold miners and hurt by a poor forex regime, Zimbabwe could yet again be missing out...
Caledonia Mining says it has raised US$13 million from a share sale on the New York Stock Exchange to fund a 20MW solar plant at its Blanket Mine. The company agreed with Cantor Fitzgerald & Co for the sales agent...
In its rush to develop new coal mines to end its power crisis, the Zimbabwe government is handing out concessions to miners in conservation areas, outraged environmentalists say. Conservationists in Hwange say that the Zimbabwe government may have granted concessions...
Russian-Zimbabwean platinum venture Great Dyke Investments (GDI) expects to raise up to US$500 million in funding it needs for the first phase of its mining project by the end of this year after the coronavirus delayed talks with lenders,...
Zimplats’ revenue for the financial year ended June 30 increased by 38% year-on-year to US$868.9-million, mainly due to an increase in the average prices of rhodium, palladium, gold and nickel. However, in view of the economic uncertainty posed by the...
RioZim sees diamond demand picking up after the coronavirus pandemic forced the business to halt sales in March amid the slump in gem prices. The company plans to spend over US$400 million to grow production and build what would be...
UK investment company Contango says it is in talks with two buyers for off-take agreements for coal products from its newly acquired Lubu coalfield in Hwange. Supply deals with CoalZim Marketing and South Mining would allow Contango to start production...
Lithium developer Prospect Resources has signed a seven-year deal to supply ultra-low iron petalite to Belgium’s Sibelco, the largest distributor of the metal in Europe and one of the world’s largest glass-ceramic manufacturers. Petalite is used in the glass and...
Caledonia Mining has reported a 35% jump in underlying second quarter earnings to US$9.6 million as output increased. The company’s Blanket Mine produced 13,499 ounces of gold in the quarter to June, compared to 12,712 ounces in the same quarter...
Zimbabwe’s miners want to be allowed to use their gold output as security for foreign credit, saying increased country risk and central bank’s foreign currency regime has stalled expansion projects. The government has targeted mining as its main route out...
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