Edcon, the struggling South African retail group, is selling its stake in Edgars Zimbabwe to Mauritian investment management firm SSCG Africa Holdings. Saved from collapse last year after a R2.7bn facility with lenders, Edcon...
Dairibord has reported “significant” business recovery in the third quarter as the COVID-19 lockdown eased and forex access improved, but sales remain lower than last year. Consumer companies have been among the hardest hit by COVID-19. Incomes, already strained by...
RioZim says it has has signed outline agreements with funders for the long-delayed 2800MW Sengwa Power Project, and plans to begin work on the first phase within 12 months. In its annual results...
Ten companies are to take control of Zimbabwe’s privatised gold refinery for US$49 million, Finance Minister Mthuli Ncube said Thursday. This will be the first time that the refinery will be in private hands...
A move by the United States to bar Marange diamonds on the basis of “forced labour” has surprised even the activists working to have Zimbabwean diamonds blacklisted, and could undermine the credibility of genuine demands for transparency in the sector....
PPC says Zimbabwe’s new currency measures are “positive” and may eventually help the company repatriate its funds from the country. The cement maker needs to repatriate US$16 million in dividends and US$5 million from rights...
Alrosa, the world's largest producer of rough diamonds, has increased the number of prospecting grants it holds in Zimbabwe and remains optimistic about the potential of the country’s diamond industry to weather the coronavirus pandemic.
Invictus Energy, listed on the Australian Stock Exchange, will start drilling an exploration oil well at its Muzarabani prospect in 2020, President Emmerson Mnangagwa announced Thursday. The drilling will be at a cost of $20 million, the President said at...
Those that are not well-connected and cannot afford bribes end up mining without permits. They have to pay huge royalties to the owners of mining permits, normally 30% of net proceeds, after deducting costs. Ultimately, it is...
Prospect Resources has been announced the winner of the 2019 Investment Battlefield at the Mining Indaba in South Africa for its lithium project in Zimbabwe. Behind Prospect in second place was ASX and JSE-listed...
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