Metallon Corp, the biggest gold producer in Zimbabwe, reported a 7 percent drop in gold production year-on-year, during its third quarter due to equipment breakdowns and increased power disruptions.
Zimbabwe freed its economy from the nightmare of hyperinflation by dumping its currency and adopting mainly the U.S. dollar. Six years on the economy is back in crisis.
Mines minister Walter Chidhakwa has said Murowa Diamonds should maintain standards set by former largest shareholder, Rio Tinto and not allow a situation where the company collapsed because it has been taken over by locals.
Zimbabwe could re-impose a 15 percent tax on raw platinum ore exports if mining companies do not deliver on pledges to build smelters and refineries to help boost the local economy, the finance minister said on Thursday.
Gold output in Zimbabwe is expected to rise this year to 18.4 tonnes, the highest level in 11 years, thanks to higher production from small-scale miners, the mining chamber said on Wednesday.
Zimbabwean fast food group Innscor Africa will separately list its restaurants unit on Nov. 6, allowing it to pursue mergers and acquisitions of companies operating similar businesses, the company said on Monday.
Zimbabwe will clear arrears of $1.86 billion to international creditors such as the International Monetary Fund by the end of next April, the finance minister said on Friday, a major step towards unlocking new funding.
THE country’s export promotion body, ZimTrade, will disseminate findings of the Namibia Market Survey during the last quarter of 2015…
The declining capacity utilisation in Zimbabwe’s industry shocked a visiting team led by the Office of the President and Cabinet after it emerged that Lobels Biscuits and Sweets is running its Bulawayo factory on antiquated ovens commissioned in 1957.
Zimbabwe plans to impose a 10 percent tax on foreign-owned firms to fund a black economic empowerment programme that is designed to bring the companies under local majority control, a minister was quoted as saying on Monday.