Hwange Colliery Company suspends top brass

HARARE – Coal miner, Hwange Colliery Company Limited (HCCL) says it has suspended two senior board members  effective October 4, 2018 on allegations of mismanagement of funds. Early this year, HCCL also suspended its managing director Thomas Makore on allegations of “insubordination and corruption”. “The company advises that it has suspended its Acting Managing Director, ( Shepard Manamike) and the Executive, […]

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Caledonia’s Blanket Mine lifespan extended on increased exploration

HARARE – Canadian based mining firm, Caledonia Mining Corporation says due to increased exploration activities, it has identified additional gold reserves at its Blanket Mine, which will extend its lifespan. The mining firm owns 49 percent stake in Blanket Mine in Gwanda, Matabeleland South province. “Today’s resource upgrade is yet another positive step in our […]

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High taxes weigh down Zimplats’ F18 

HARARE- Zimplats’ net profit for the year was negatively affected by the impact of the change in tax rate on deferred tax following the migration from a special mining lease to the mining lease tax regime. The company said a deferred tax charge of approximately $95, 4 million was recognised in F18 arising from the […]

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Gold deliveries to FPR increase 7% in July as small scale miners contribution grows

HARARE Gold deliveries to Fidelity Printers and Refiners increased 7.14% in July to 1817kg from 1 695.9kg in the previous month. Latest data for the seven months shows that gold purchases by FPR amounted to 11 444.69kg against the set full year target of 24 000kg. Gold deliveries have begun rising as the prices continue […]

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Bad policies making Zim mining sector unattractive and vulnerable: World Bank

HARARE A World Bank mining specialist Martin Lokanc says Zimbabwe’s licensing regime in the mining sector is flawed as the process rests on the discretion of officials. Because of this and other issues, mining investments are expected to be muted. Speaking during an economic governance series dialogue, the World Bank expert said processes to acquire […]

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Bindura nickel production down 31% in 1Q17

HARARE Bindura Nickel Mine reported a 31% drop in production in the first quarter of its financial year primarily due to a decrease in average head grade and recoveries although there was a slight improvement in the average price. According to an operations and explorations update from parent company Asa Resource Group production at Trojan […]

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Metallon’s gold production rises 9% in Q2 on How Mine

HARARE Metallon Corporation on Wednesday said production of gold at its local mining units rose by 9% to 22 565 ounces in the second quarter of this year, compared to the previous quarter. In the period under review, How Mine produced 12 731 ounces compared to 9 540 ounces in the previous quarter while output […]

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Mineral revenue up 8.8 percent in first half of the year

Harare The value of mineral output for the first half of 2016 (excluding diamond, coal and chrome) increased by 8.8% to $806 million, from $741 million during the same period in 2015 on the back of strong output performance of key minerals. Gold  revenue surged $415 mln in the first half of 2016  compared  to  […]

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