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Search results: Zimbabwe Gold (ZiG)
Gold forecast to Hit US$5,000 by 2026
Zimbabwean producers ramp up investments as gold’s bull run fuels renewed optimism and record inflows
Gold’s relentless rally is reshaping investor sentiment worldwide, with HSBC now forecasting prices could climb to US$5,000 per ounce by 2026 —...
Mnangagwa Backs Gold-Based Currency and Recognises Artisanal Miners as Economic Drivers
In a powerful declaration of Zimbabwe's economic direction, President Emmerson Dambudzo Mnangagwa has reaffirmed his government’s commitment to anchoring the national currency in physical gold reserves—while simultaneously acknowledging the crucial role of artisanal and small-scale miners...
RBZ Resume Gold Coin Sales as bullion prices soar
The Reserve Bank of Zimbabwe (RBZ) has resumed the sale of its gold-backed Mosi-Oa-Tunya coins, reintroducing the program after a 10-month break amid soaring international gold prices.
By Ryan Chigoche
The RBZ initially launched the 22-carat coins in...
ZiG Faces Challenges Despite 90% Gold Reserves Boost
Zimbabwe's ambitious attempt to stabilize its economy using gold reserves and the Zimbabwean gold-backed currency (ZiG) is facing significant challenges, despite assurances from the Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mushayavanhu, that gold would...
FGR Leads Charge in Transparent Gold Trading with Blockchain Technology
Zimbabwe’s gold sector has entered a new era of transparency and accountability, as the country’s sole gold buyer and exporter, Fidelity Gold Refinery (FGR), introduces a groundbreaking mine-to-market system, Mining Zimbabwe reports.By Rudairo MapurangaThis innovative system,...
Gold Miners Applaud VAT Relief but Urge Clear Legislation for 2024
Miners have welcomed the zero-rating of gold supply to Fidelity Gold Refinery (FGR), noting that it alleviates operational burdens. However, they called for clearer legislation as the new statutory instrument (SI) 105 of 2024 does not...
Chamber: Gold Production to Increase Due to Rising Prices
The Chamber of Mines of Zimbabwe anticipates a significant increase in gold production driven by rising gold prices and the strengthening of the Zimbabwe Gold (ZiG) currency.by Rudairo MapurangaThis positive outlook was shared by the Chamber’s...
NEC Sets New Mining Industry Wage Rates for 2025
The National Employment Council (NEC) for the Mining Industry has released a new wage rates that will see minimum pay rates across all mining grades adjusted upward for the year 2025. The announcement follows successful negotiations...
Caledonia Foreign Exchange Losses Widen
The Victoria Falls Stock Exchange-listed Caledonia Mining Corporation has reported a net foreign exchange loss of US$9.7 million in 2024, up from US$6.8 million the previous year, marking a 30% increase. The rise in these losses...
The Future of ZiG: RBZ Quells Concerns Over Legal Status
The Reserve Bank of Zimbabwe (RBZ) has issued a public notice to clarify the legal status of the Zimbabwe Gold (ZiG) currency, addressing concerns raised by prominent lawyer Thabani Mpofu, Mining Zimbabwe reports.By Rudairo MapurangaMpofu had...
25% Forex Surrender is here to Stay – RBZ Governor
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu has said that the 25% forex surrender requirement imposed on revenue generated from all mineral exports will remain in effect, emphasizing its crucial role in maintaining foreign...
ZiG Currency Adopted as Official Unit
The Minister of Finance and Investment Promotion, Prof. Mthuli Ncube, announced on Tuesday that the Zimbabwe Gold (ZiG) is now the official unit of exchange for transactions.According to Prof. Ncube, plans are underway to implement regulations...
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