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Search results: Reserve Bank of Zimbabwe (RBZ)
Zim freezes Lithium Giant’s bank accounts
Discontent has erupted among employees at Prospect Lithium Zimbabwe (PLZ)’s Arcadia Mine who will not be receiving their salaries after the Reserve Bank of Zimbabwe (RBZ) reportedly froze its bank accounts.
PLZ is a Chinese-run multi-million open-pit lithium mining company...
Caledonia, Gold Export and the Law in Zimbabwe
On 4 May 2023, Mining Zimbabwe reported that Caledonia Mining Corporation Plc has commenced the direct sale of gold produced from the Blanket Mine to a refiner outside Zimbabwe.By James Tsabora (PhD) & Reginald Mutero (LLM)This...
Gold Economy: 10 Advantages of Using Gold Coins in Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) in 2022 introduced Mosi-Oa-Tunya gold coins to alleviate the demand for the US dollar, stabilize the exchange rate of the Zimbabwean dollar, and control the rising inflation.The substantial increase in...
Why gold smuggling is rife in Zimbabwe
The mining industry in Zimbabwe plays a significant role in the development of the country as it brings in foreign currency, contributes to government revenue and provides for infrastructure development.Dumisani NyoniSince 2009, the mining sector has...
How gold is smuggled from Zimbabwe
A report by the International Crisis Group last year estimated that cash-strapped Zimbabwe is losing at least US$1.5 billion annually through the smuggling of gold, mainly to traders in Dubai and South Africa.By Dumisani NyoniThe figure...
Zimbabwe Mining in 2020
The year 2020 was a difficult year for both large producers and small scale miners due to falling commodity prices as well as the impact of the COVID-19 pandemic which ravaged the entire globe.Mostly affected in...
Gold Smuggling: Time government introduces free gold trade within Zimbabwe
Zimbabwe is reportedly losing more than US$100 million a month through gold smuggling, according to Home Affairs Minister Kazembe Kazembe.The government has been, for eons, trying to fight gold leakages but with little success. This article will...
Ten most mined minerals in Zimbabwe
ZIMBABWE is a host of 60 different types of minerals, 40 of which have been historically exploited to various extents.By Dumisani NyoniHowever, production since 2000 has been dominated by about ten minerals which are gold, platinum,...
Why violence is rising in Zimbabwe’s small-scale mines
Amid socio-economic malaise facing Zimbabwe, mining is the only remaining silver lining.The sector underpins the country’s socio-economic growth prospects. Gold which is expected to contribute US$4 billion, a third of the anticipated US$12 billion earnings from mining...
Caledonia optimistic of interbank exchange market
AIM-listed mining group, Caledonia Mining Corporation, is optimistic that the introduction of the inter-bank foreign currency exchange market in February will help stabilise business operations and assist the company to yield more profits.The chief executive officer,...
$100 million to bankroll small scale mining
FIDELITY Printers and Refiners (FPR) would this year mobilise $100 million to bankroll small-scale mining operations in addition to the $150 million Gold Development Initiative Fund.Speaking during a small-scale miners’ conference in Bulawayo yesterday, FPR head...
USD, RTGS Bank exchange rate impacts operations: Mahlahla
Yesterday the Zimbabwe Miners Federation (ZMF) National Chrome Representative Mashonaland Central ZMF chairperson Masango Mahlahla presented a seven point grievance list at the ZMF MONETARY POLICY REVIEW BREAKFAST MEETING attended by Ministry of Mines led by...
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