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...
In October 2018, the Zimbabwe government put up the ‘For Sale’ sign on mines owned by the Zimbabwe Mining Development Corporation (ZMDC). This was part of a privatisation drive targeting 35 state-owned firms. Within a month of inviting bids, there...
Zimbabwe’s biggest gold mines are being snapped up by Mauritius-based Sotic International Ltd. as the price of bullion soars to the highest in more than eight years. Sotic International says it is targeting six more mines after its arm, Landela...
Caledonia Mining says second-quarter gold production from its Blanket Mine was 6.2% up on the same period last year, while half-year output was 12.5% better than this time last year. Blanket, near Gwanda, produced 13,499 ounces of gold in...
Mzi Khumalo's Metallon has completed the sale of Shamva Mine to Kuda Tagwirei’s Landela Mining Ventures, while the sale of Mazowe Mine is expected shortly. The transaction represents a change of guard in the industry. Metallon was once the country’s largest...
Prospect Resources says it will miss its deadline to reach a petalite offtake agreement with Belgium’s Sibelco, one of the world’s largest glass-ceramic manufacturers. In April, the two companies signed an MoU to work on a possible offtake agreement for...
Caledonia Mining has declared a further increased quarterly dividend of US$0.085 a share as stable production, cost control and high gold prices increase cash generation. The company operates the Banket gold mine near Gwanda. The dividend is a 13% increase on...
Investment holding company Contango on June 18 started trading on the London Stock Exchange after completing the acquisition of Consolidation Growth Holdings’ interest in the Lubu coalfield in Zimbabwe. Contango now has a 70% interest in the Lubu project, which has...
Pressure is again building on central bank over its currency regime, as RioZim warns it can no longer sustain expenses due to payment delays and the fixed exchange rate, while the Chamber of Mines pleads for the lifting of...
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