Page 50 - Mining Development News Today

Zimbabwe has the largest lithium reserves in Africa and fourth worldwide with some lithium mining projects in the exploration phase forecasted to kick-start production this year. The Bikita Lithium mine is one of the biggest in Zimbabwe with a reserve of 10.8 million tons of lithium ore, containing a lithium content of 1.4 percent, or 150,000 tons. By Takudzwa Changadeya The…

NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love.

FINANCE Minister, Mthuli Ncube has drawn down an International Monetary Fund (IMF) grant extended to Zimbabwe last year to set up a US$10 million gold facility in a bid to spur growth in the most lucrative economic sector. Last year Zimbabwe received around US$1 billion from the IMF under Special Drawing Rights (SDRs), an international…

The mines chief acknowledged that there have been setbacks in some minerals, but said this is not significant enough to hold back the projected windfall.

NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love.

After a nearly 12-year negotiation, the High Court of Zimbabwe has granted a default order against the Minister of Mines and Mining Development, relating to a historic parcel of 129,400-carats of rough diamonds, which will be released to AIM UK-listed Vast Resources. The company expects to receive the signed court order in coming days, following which Vast will clean and value the diamonds for the purpose of selling through a tender. Vast will then determine the final quality assortment of the p...

The mining sector has decried that the foreign currency retention thresholds are crippling their operations.

For the three months ended 31 December 2022(figures are unaudited and in US$ except where stated)On track to deliver FY23 guidance as key growth projects advance to execution Solid second quarter with

Small-scale miners are targeting at least 40 tonnes of gold output this year, up from 25 tonnes produced last year, following the implementation of more efficient mining methods in the sector. Gold is Zimbabwe’s single largest foreign currency earner while artisanal miners account for more than half the country’s national production. Heavy rainfall being experienced…

In a judgment dated January 11, 2023, Bulawayo High Court judge Justice Maxwell Takuva ruled that the application against Duive Enterprises had been withdrawn.