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Unki Platinum mine has taken the Zimbabwe Revenue Authority (ZIMRA) to court over a $24 million royalty dispute, court documents seen by Reuters show.. Unki filed an urgent application at the high court on Sept. 9 to stop ZIMRA from seizing the money from the miner's bank account, which ZIMRA claims is the value of royalties it is owed by the wholly owned …
The government yesterday said it would anchor its US$12 billion mining industry economy on a rare and more expensive type two diamond set to be mined in its Malipati Diamond Projects in Matabeleland South and Masvingo provinces. This was revealed yesterday by Mines minister Winston Chitando during a tour of Malipati Diamond Projects in Beitbridge.
Zimbabwe has witnessed a sharp increase in mine accidents, claiming the lives of at least 237 individuals in the year 2023. ... Tharisa Repurchases General Shares for US$5 Million. In an effort to prevent potential loss of lives and damage to mines, the Minister of Mines and Mining Development recently issued a stern warning to all miners ...
The Minister also noted that the Ministry is finalizing a US$10 million facility for small-scale miners in chrome and gemstones to enhance their operations and enable them to compete with foreign nationals. ... Mining Zimbabwe is a leading publication and online platform that covers the mining industry in Zimbabwe. We provide up-to-date news ...
The first of its kind in southern Africa, African Chrome Fields (ACF) has announced that its new, ground-breaking aluminothermic smelting factory in Zimbabwe will open its doors within the next two months – the result of an approximate $40 million investment for the factory alone. By ACF. The plant is equipped with proprietary state-of-the-art technology which …
For instance, Blanket Mine invested about US$14 million in a solar plant, while Zimplats is constructing a 35 megawatt (MW) solar power plant for US$37 million. ...
Zimbabwe is known for abundant deposits of platinum group metals (PGMs), gold and lithium. ... In 2024, the mining sector lost around $500 million in potential revenue to …
ZimAlloys Allocates $3 Million for Advanced Three-Phase Chrome Exploration Program. Zimbabwe's mining sector is a critical contributor to the country's economy, with the government pushing to ensure the sector contributes significantly towards the achievement of Vision 2030, where Zimbabwe is expected to become an upper-middle-income ...
The diamond miner, however, is targeting to produce 10 million carats by 2023, an output that is expected to feed into President Mnangagwa's vision of a middle-income country by 2030. The diamond mining sector earnings are expected to hit $18 billion by 2023. This article first appeared in the February 2020 issue of the Mining Zimbabwe Magazine
During this period, a total of 65 mining licenses were granted, amounting to a value of $282.74 million. By Ryan Chigoche. Overall, the Zimbabwe Investment and Development Agency (ZIDA) issued 154 licenses across various sectors, with a cumulative value of $1.8 billion. Among these, the mining sector was one of the standout performers.
Kuvimba Mining House (KMH) is closing in on a partnership with new investors for the Sandawana lithium resource as they target to commence concentrate production by the end of next year. By Patricia Rwafa. The company, which is under the Mutapa sovereign wealth fund, estimates it has a lithium ore resource of 38 million tonnes at Sandawana, sparking investor …
The mining sector, Zimbabwe's largest consumer of energy, currently owes the Zimbabwe Electricity Supply Authority (ZESA) a staggering Z$684.8 million (US$45.6 million).. By Ryan Chigoche. This amount represents 12% of ZESA's total debtors' book, placing a significant financial strain on the utility.
Zimbabwe's state-owned Kuvimba Mining House is broadening its search for equity partners and financiers for its gold and lithium mines in a bid to raise capital and expand mineral production ...
ZIMBABWE is targeting to grow diamond production from 3,5 million to 12 million carats by 2025, Mines Minister Winston Chitando has said. Before Zimbabwe attains such lofty output it has to achieve an ambitious but achievable target of growing the diamond sector to a US$1 billion industry. Government has grand vision of expanding the mining
Some of Zimbabwe's biggest miners are seeking $182 million to develop 200 megawatts of locally-generated solar power, according to the head of the renewables …
Mining executives in Zimbabwe – including CEOs of units of Impala Platinum, Sibanye-Stillwater and Anglo American Platinum, among others – are planning up to $600 million (R10.5 billion) in ...
Although US$2.8 million has been paid to other creditors, Barak's claim remains "contingent," preventing payment. Makomo's legal team denies these accusations, asserting that the corporate rescue practitioners followed statutory requirements and that Barak's request to remove Grant Thornton lacks legal merit. ... Mining Zimbabwe ...
The mining industry in Zimbabwe is facing a mounting crisis, with projected losses of US$500 million in 2025 due to worsening power outages...
Kuvimba Seeks US$150 Million to Develop Shamva Mine "Accordingly, the urgent court application is dismissed with costs," Justice Muchawa ruled. According to the background of the matter on June 16, 2023, Zimra delivered a letter to Afrochine Smelting in which it presented its tax review findings for the period 2019 to 2021.
Some of Zimbabwe's biggest miners are seeking $182 million to develop 200 megawatts of locally-generated solar power, according to the head of the renewables company responsible for the projects. ... "Talks with various funding partners, such as mining companies, banks, developmental financiers, and vendors like Power China and RIC Energy ...
AIM-listed mining and exploration company, Premier African Minerals has settled the payment of US$2.5 million in invoices by issuing 769,230,769 new ordinary shares of the Company to Zulu open pit mining contractor, JR Goddard Contracting (Pvt) Ltd popularly known as JRG, the company CEO George Roach said. Rudairo Mapuranga. According to Roach, the …
Defold mining has penned two joint venture agreements worth an estimated US$ 130 million meant to operationalise, gold centres in various provinces, with. HOME; ... Mining Zimbabwe is a leading publication and online platform that covers the mining industry in Zimbabwe. We provide up-to-date news, insights, and analysis on the country's ...
Business Africa. Mining accounts for 12% of Zimbabwe's Gross Domestic Product. Among the wide range of minerals, gold stands out. Large miners produce up to one ton of gold per month, with ...
The deal came about as Invictus floated 151,515,152 shares worth US$10 million in a private placement, with Mutapa underwriting US$5 million of the share issue, while a private equity fund, Mangwana Capital, injected another US$5 million to acquire the total shares on offer.
Kuvimba Mining House (KMH), owned by the country's sovereign wealth fund, Mutapa Investment Fund, has entered into a significant Build, Operate, and Transfer (BOT) agreement with a Chinese consortium worth US$310 million for the Sandawana Lithium Project. By Rudairo Mapuranga. The US$310 million deal, valid for six years, aims to establish a state …
Some of Zimbabwe's biggest miners are seeking $182 million to develop 200 megawatts of locally-generated solar power, according to the head of the renewables …
Last month the President of Zimbabwe Emmerson Dambudzo Mnangagwa unveiled the USD12 billion road map which aims at developing the mining sector in Zimbabwe to a USD12 billion industry by 2023. The mining sector is already Zimbabwe's biggest foreign currency earner. Experts and the government are of the view that the sector is the leading
RioZim group associate, Murowa Diamonds (Private) Limited, despite the group's gold production for the year 2018 regressing by 13 percent to 1.792 tons which is less than the 2.071 tons achieved in the prior year, managed to maintain its momentum from the previous year and produced 740,244 carats from 732,045 carats. According to a statement
ZIMBABWE is losing at least US$100 million worth of gold every month, which is being smuggled out of the country through porous borders with Government now in the process of rolling out measures to plug the leakages. Gold is the country's biggest foreign currency earner. Last year, the country earned US$946m from US$1,3bn in 2018
Mining Zimbabwe is a leading publication and online platform that covers the mining industry in Zimbabwe. We provide up-to-date news, insights, and analysis on the country's mining sector, focusing on developments in mineral …