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Zimbabwe's platinum industry calls for $2.8bn in new investment

By: Reuters     20th May 2016 Zimbabwe could double annual platinum production to more than 900 000 oz in the next decade and become the nation's top export earner but current producers need $2.8-billion in new investment to do so, the industry associaton said on Friday. The southern African nation holds the second largest... 

Zimbabwe's Q1 gold, platinum production picks up – chamber of mines

By: Reuters     17th May 2016 Zimbabwe's mining production rose in the first quarter of 2016, with gold production up to 5 t from 4 t in the previous year after electricity supply stabilised, the Chamber of Mines said on Tuesday. While production was likely to rise in the remainder of the year, risks to the sector remained,... 

Zim probes Rio Tinto’s Murowa share disposal

By: News24Wire      8th April 2016 Zimbabwe is probing Rio Tinto’s disposal of its stake in two mines in Zimbabwe, charging that disposed shares were held offshore, hence the justification to investigate them and determine if due procedure was followed. Rio Tinto disposed of its 78% stake in the Murowa diamond mine and also sold... 

Urgent probe for Zimplats after Panama Papers leak

By: News24Wire      6th April 2016 Impala Platinum and government officials in Zimbabwe will probe the alleged involvement of the company's Zimplats unit after leaked papers showed it used an offshore company to pay salaries of management in Zimbabwe. Fin24 reported on Monday that Zimplats had been implicated in the Panama Papers.... 

SA is Africa's hub of private banking – report

By: News24Wire      21st March 2016 South Africa is the hub of private banking in Africa with holdings worth about $72bn, according to a recent report. A Research and Markets report entitled The Africa 2016 Wealth Report identifies South Africa - mainly Johannesburg - as the continent's biggest centre for private banking. The... 

Fastjet adds new S Africa/Zimbabwe route despite financial squeeze 

By: Keith Campbell     8th March 2016 Embattled pan-African low cost carrier fastjet (as it styles itself) has announced on Tuesday it will start flying between Johannesburg, South Africa and Victoria Falls, Zimbabwe, on March 25. The twice-weekly route will be served with an Airbus A319 single-aisle airliner with a capacity of up to... 

At least 3 dead in Zimbabwe diamond field accident – State broadcaster

By: News24Wire      3rd March 2016 Police divers in Zimbabwe's best-known diamond fields are searching for more victims of an accident that left at least three illegal panners dead on Wednesday, the state Zimbabwe Broadcasting Corporation reported. Up to 15 are feared to have been crushed to death by falling rock in the Chiadzwa... 

Zim govt faces lawsuit from diamond miners

By: News24Wire      23rd February 2016 Diamond mining companies ordered by President Robert Mugabe's government to stop gem mining operations in Eastern Zimbabwe are weighing their options, while some have started engagements for litigation against the decision. Zimbabwe Mines and Mining Development Minister Walter Chidakwa on Monday... 

Zim repays Implats unit $100m, revenues tumble

By: News24Wire      5th February 2016 Zimbabwe says it repaid Impala Platinum’s unit in the country about $100-million in overpaid royalties, dragging down earnings from the mineral royalties segment by 110%, the Zimbabwe Revenue Authority (Zimra) said on Thursday, saying this had contributed to a 7% shortfall in 2015 revenue... 

Zimplats to go ahead with $447m expansion project

By: News24Wire      2nd February 2016 Zimplats says it is going ahead with its Zimbabwe based projects despite continued threats on a portion of its mining lease area. In a statement accompanying its results for the quarter ended 31 December 2015 the company said the Ngezi Phase 2 expansion project implementation is progressing well. 

Fastjet’s daily flights between Harare and Johannesburg take off

     1st February 2016 Low-cost airline expands its pan-African network launching daily and direct international flights linking Zimbabwe and South Africa Fastjet’s inaugural flight between Harare in Zimbabwe and Johannesburg in South Africa took off today, Monday 1 February 2016, marking the low-cost airline’s newest... 

Zim miners commit $362m to beneficiation

By: News24Wire      29th January 2016 Zimbabwean mining companies have invested up to $362-million in mineral beneficiation projects expected to be completed in the next five years as the government intensifies a value addition drive to create more employment and keep money in the country. Zimplats, owned by Impala Platinum, as well... 

Outcry against Zim's 49% proposed electricity hike

By: News24Wire      20th January 2016 The business community in Zimbabwe has added its voice to opposition to a proposed electricity tariff hike of 49% by the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), saying the economy cannot sustain any cost increases. In a joint press statement released on Wednesday, the... 

Zimbabwe set to be region’s diamond hub – report

By: African News Agency      13th January 2016 Zimbabwe is inviting consultants to help establish its own diamond bourse with the aim of becoming a regional diamond trading hub which is expected to attract traders from around the world, a report said on Wednesday. According to Zimbabwe’s state-owned newspaper, The Herald, the diamond bourse,... 

Mines body sees bleak 2016 for Zim mining

By: News24Wire      11th January 2016 The Chamber of Mines of Zimbabwe (COMZ) is anticipating little improvement in production and prices for most metals mined in the country, despite an easing in power supplies after Zimbabwe inked a deal to import power from Eskom. Following media reports in Zimbabwe that the power import deal... 

Bad year for African bourses prompts investor exit 

By: News24Wire      4th January 2016 Foreign investors suffered huge losses in most African stock markets in 2015, as the continent faced foreign exchange pressures and low commodity prices. While investors in Botswana and South Africa recorded some gains in local currencies, weakening currencies against a strengthening US dollar... 

China's Xi signs 10 investment deals with Mugabe

By: News24Wire      2nd December 2015 Chinese President Xi Jinping signed 10 investment deals with Zimbabwe on Tuesday evening, pledging to continue cooperating with the investment-hungry country as it attempts to reverse a prolonged economic meltdown. Shunned by most international investors for uncertainty and lack of protection of... 

Truck, trailer company increases sales, targets improved output

By: Mia Breytenbach     20th November 2015 Multimillion-rand facility expansions, the improvement of quality and service, and additional orders from new clients are key to the 18% sales growth registered this year by truck and trailer body building company Serco, states MD Clinton Holcroft. This growth took place in local and neighbouring... 

Tongaat profit takes dive as sugar market battles water crisis

By: Tracy Hancock     16th November 2015 JSE-listed Tongaat Hulett’s strong performance for the half-year ended September 30 in land conversion activities and its starch operation, has been more than offset as a consequence of the struggling sugar sector. CEO Peter Staude in a statement on Monday said the agriculture and agroprocessing... 

Zimplats swings back to profit after revenue, output jump

By: News24Wire      30th October 2015 Impala Platinum’s unit in Zimbabwe has swung back into profit making although the outlook for commodity prices remains weak, after it ramped up profits, revenues and production in the quarter to the end of September. The Australia-listed Zimplats said its profit and revenue jump had been boosted... 

New tax for Zim miners amid belt tightening

By: News24Wire      28th October 2015 Zimbabwean miners are to be taxed a new levy to fund exploration activities as the government transforms the Minerals Marketing Corporation of Zimbabwe into a state exploration company. This comes in the wake of declining exploratory work by mining firms at a time when miners globally are facing... 

John Tarboton

     23rd October 2015 This week we feature John Nigel Tarboton, executive director for Southern Africa at the Stainless Steel Development Association, whose mandate is to grow the stainless-steel finished-product market 

Zimbabwe launches solar policy  

By: News24Wire      1st October 2015 Zimbabwe's government launched a solar energy policy on Wednesday as it attempts to reduce a major power shortage in the country. A drought affecting the country's hydro plant at the Kariba Dam and the "abundant sun" in Zimbabwe made the solar project a priority, Vice-President Emmerson Mnangagwa... 

Vast Resources starts mining at Pickstone-Peerless

By: Megan van Wyngaardt     23rd September 2015 With both its Pickstone-Peerless mine, in Zimbabwe, and its Manaila mine, in Romania, now in production, Aim-listed Vast Resources was “firmly on track to build a significant cash generative mining company,” says CEO Roy Pitchford. The company on Wednesday said production had started at the 584... 

Gibb Takes To The Runway For Africa’s Airport Infrastructure

     21st September 2015 Zimbabwe’s Harare International Airport has made headlines recently with its imminent closure looming. It is reported that the airport runway, among the longest in Africa, has many large and dangerous potholes, making it extremely unsafe for use. Further, even though measures by the Civil... 

Low-cost pan-African carrier increasing flights and fleet

By: Keith Campbell     18th September 2015 Pan-African low cost airline Fastjet has started daily flights between Lusaka, the capital of Zambia, and Dar es Salaam, the commercial centre of Tanzania, to meet passenger demand. Previously, the airline flew between the two cities four times a week. “We have always promised to increase the... 

Zim, Zambia economies trip on water shortage 

By: News24Wire      1st September 2015 Low water levels at Kariba dam will further worsen power generating capacity in Zimbabwe and Zambia, power utilities in the two southern African countries say, with power deficits seen widening until the onset of rains in November. Increased power deficits will hobble economic activity in the two... 

Zim VP says food imports draining govt funds – reports 

By: News24Wire      28th August 2015 Zimbabwean Vice President Emmerson Mnangagwa has expressed concern over food imports, saying they are draining the country's already strained resources, according to reports. Mnangagwa said aggressive measures were needed to improve the country's agricultural production, The Source reported. 

Zimbabwe lifts chrome export ban

By: News24Wire      10th June 2015 Zimbabwe on Tuesday lifted a four-year ban on chrome ore exports. The country also licensed 12 private companies and a state-owned firm to ship excess ore for smelting outside the country and lowered electricity tariffs for miners of the base metal from 8 cents to 6.7c per Kilowatt hour, two... 

Cement supplier gears up for increased demand

     22nd May 2015 Cement producer PPC is gearing up for expected demand growth by constructing a new 3000 t/d clinker kiln at its Slurry cement factory, in the North West. The new kiln at Slurry will boast a six-stage pre-heater tower design as was used on PPC’s Dwaalboom kiln, in Limpopo, that was completed in 2008. 

Zuma briefs SADC summit on measures to deal with xenophobia

By: News24Wire      30th April 2015 President Jacob Zuma briefed southern African heads of state gathered for a summit in Harare on Wednesday about measures his government was taking to stop a recurrence of the recent xenophobic attacks in Durban and Johannesburg, Zimbabwean President Robert Mugabe said. Speaking at the close of... 

Metallon achieves 8% y/y increase in gold production

By: Megan van Wyngaardt     22nd April 2015 Gold miner Metallon Corporation produced 24 385 oz of gold in the three months ended March 31. Although output was 15% below the targeted output of 28 654 oz, it was 8% higher compared with that produced in the March 2014 quarter. 

SA companies not pulling out of Africa amid xeno threats

By: News24Wire      21st April 2015 SA mining companies in Zimbabwe and several other Africa operations have not been targeted by the wave of retaliatory action over the recent xenophobic attacks in Durban and Johannesburg. Officials and sources at most mining companies in Zimbabwe and executives from the chamber of mines said as... 

Fastjet seeks to raise $75m to grow African routes

By: Natalie Greve     2nd April 2015 Low-cost African airline fastjet plans to conduct a placing to raise gross proceeds of at least $75-million through the issue of new ordinary shares at 0.1p a share, telling the market on Thursday that proceeds would be deployed as expansionary working capital and to acquire additional Airbus... 

Kariba dam rehabilitation project, Zambia

     13th March 2015 The World Bank, the European Union, the African Development Bank and the government of Sweden have agreed to provide Zimbabwe and Zambia with $294-million for the repair of the Kariba dam wall. 

$294m package announced to rescue Kariba dam from possible collapse

By: Oscar Nkala     6th March 2015 The World Bank, the European Union, the African Development Bank (AfDB) and the government of Sweden have agreed to provide Zimbabwe and Zambia with $294-million for the repair of structural deformations on the Kariba dam wall and avert the possible collapse of the giant hydropower station, which... 

Company focused on African expansion plan

By: Ilan Solomons     16th January 2015 Hose and tubing products manufacturer Reinforced Hosing (REH) aims for Africa to account for about 30% of the company’s sales over the next three to five years, particularly as it forsees a stagnation of the South African market over this period, owing to the weak economic climate. REH MD Gavin... 

UNECA to sign third capacity building MoU with ACBF

By: Megan van Wyngaardt     14th January 2015 To build human and institutional capacity in Africa, the United Nations Economic Commission for Africa (UNECA), will sign a memorandum of understanding (MoU) for a three-year partnership with the African Capacity Building Foundation (ACBF). The signing would be undertaken by UNECA deputy... 

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