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ZIM plans to conduct a full gas exploration

ZIMBABWE plans to conduct a full exploration of its gas deposits in a bid to establish the quantum of the key resource before engaging potential investors.Top United States firm, General Electric and some local firms are...

Zim discovers rare minerals

Zimbabwe sits on bountiful and lucrative deposits of minerals known as rare-earth elements (REE), some of which sell for more than US$1 000 for a single kilogram and where investors are seeking alternative sources to China,...

Chiadzwa illegal diamond miner finally buried

 A post-mortem report released by government pathologists last week showed that three bullets were plucked out from his body. A SOMBRE atmosphere engulfed Jori village in Buhera on Sunday during the burial of Terrence Masendeke, who was...

Chrome smuggling rejudicing the state of millions

A complex syndicate involving some Chinese nationals and senior government officials is at the centre of  chrome smuggling in Zimbabwe through under declaration of volumes, which have prejudiced the state of millions of dollars in taxes...

Smelting company sued over chrome ore worth USD7 million

Afrochine Smelting is a subsidiary of Tsingshan Iron and Steel Group of China and has chrome smelters in Selous near Chegutu. Chrome mining and smelting company, Afrochine Smelting, has been taken to the High Court by NR...

Hwange Power Station funding under threat

Zimbabwe might face challenges accessing the US$1 billion loan facility from China Eximbank for Hwange Power Station expansion following the change of functional currency that resulted in funds that were held in an escrow account to...

Miners in Congo face subcontracting limits under new rules

Companies in the Democratic Republic of Congo will have to ensure subcontractors they hire are domestically owned under rules being implemented by the government.The requirement adds to the raft of new measures mining companies have had...

Central banks buy gold in quest for safety

Net buying by central banks reached 145,5 tonnes in the first quarter, 68 percent higher year-on-year. This is the highest volume of Q1 net purchases since 2013 (179,1 tonnes), comfortably exceeding the five-year quarterly average of...

Africa loses billions worthy of gold to Dubai through smuggling

 Billions of dollars’ worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East — a gateway to markets in Europe, the United States and beyond —...

Ivanhoe to fast-track DRC mine into production after CITIC invests $454m

Ivanhoe Mines is ready to finish building its giant copper mine in the Democratic Republic of Congo after its largest shareholder pumped an additional C$612 million (about $454m) into the Canadian company.China’s state-owned CITIC Metal is paying...

Ten Myths on in investing in Zimbabwe mining

The Zimbabwe investment environment has been coupled with a lot of issues ranging from mistrust between Government and investors (mostly foreign) emanating from transgressions of the past.This comes out from how Government treated investors in the...

Guinea transfers oversight of state mining company to Presidency

The office of Guinean President Alpha Conde is assuming oversight of the West African nation’s state-owned mining company in a move that will hand him more authority over the country’s holdings in some of the world’s...

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