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Zimbabwe's parliament orders Mugabe to answer questions over diamonds

By: Reuters     20th April 2018 Zimbabwe's parliament has ordered former leader Robert Mugabe to answer questions next month about whether the state was deprived of $15-billion in diamond revenue, a legislator said on Friday. It will be Mugabe's first public appearance since last November when the army deposed him in a de facto... 

Illegal gold miners invade Grace Mugabe's farm amid legal dispute

By: Reuters     20th April 2018 A farm owned by Robert Mugabe's wife Grace is at the centre of a legal dispute after hundreds of illegal gold miners invaded parts of the property and started mining gold. A Reuters photographer saw hundreds of illegal miners digging for gold at the Smithfield citrus farm using picks and shovels,... 

Caledonia plans Zimbabwe expansion

By: Reuters     20th April 2018 Caledonia Mining plans to buy gold assets in Zimbabwe and increase its stake in the Blanket mine after the removal of the country's tough ownership rules. Keen to attract investment to revitalise the country's struggling mining industry and economy, Zimbabwe has revised its laws since the... 

Smuggling shenanigans of jumbo proportions

By: Martin Zhuwakinyu     20th April 2018 It must have been music to the ears of animal rights proponents and conservationists when the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) reported in October last year that significant gains had been made in the fight against elephant poaching on the... 

Missing $15bn diamond revenue – 'It's all lies,' says Mugabe

By: News24Wire      17th April 2018 Zimbabwe's former president Robert Mugabe has retracted his remarks over the alleged missing $15-billion diamond revenue amid investigations by the national assembly, according to a report. In a claim that's coming back to haunt him, the former Zimbabwe strongman said in 2016 that $15-billion... 

Moti Group is open to selling shares in Zimbabwe mine operation

By: Bloomberg     16th April 2018 The Moti Group will consider selling shares in its Zimbabwean chrome mining operations if the government pushes ahead with the proposal that has already met resistance from the country’s biggest platinum producer. Zimbabwean policymakers are debating a bill that will require mining companies to... 

Zimbabwe to sell shares in State-owned firms as part of reforms

By: Reuters     13th April 2018 Zimbabwe is looking to sell shares in 35 State-owned firms, including telecoms and mining entities in the latest step to revive the economy under new political leadership, Finance Minister Patrick Chinamasa said on Friday. President Emmerson Mnangagwa, who came to power in November after a de... 

Zimbabwe government buys Boeing planes, leases them to new airline

By: Reuters     12th April 2018 Zimbabwe has bought two Boeing 777 aircraft and an Embraer plane from Malaysia, the finance minister said on Wednesday, adding the planes would be leased to a new local airline until national carrier Air Zimbabwe returned to profitability. Patrick Chinamasa said Harare had agreed with an... 

Mugabe to be summoned over diamond mining probe

By: African News Agency      11th April 2018 Former Zimbabwe President Robert Mugabe is to be summoned by a committee of lawmakers in Zimbabwe to testify at a parliament probe into lost revenue from diamond mining. The lawmakers plan to question Mugabe over his 2016 claim that the country had lost $15-billion (12.13-billion euros) in income... 

Senior govt officials, including Zim VP 'to appear before Parliament' about $15bn diamond scandal

By: News24Wire      10th April 2018 Several senior government officials have reportedly been summoned by Zimbabwe's parliamentary portfolio committee on mines and energy over the missing $15-billion diamond revenue. According to reports, former President Robert Mugabe, announced in 2015 that $15-billion of diamonds were spirited... 

Zimbabwe's biggest platinum miner says local listing won't work

By: Bloomberg     6th April 2018 Impala Platinum Holdings said Zimbabwe’s plan to compel mining companies to list the majority of their shares on the local exchange isn’t feasible and would impede operators’ ability to grow and invest in their assets. Lawmakers in the southern African nation are debating the measure as part of a... 

Zimbabwe wants mining companies to list on local exchange

By: Bloomberg     5th April 2018 Zimbabwe wants mining companies operating in the country to list the majority of their shares on the local exchange, stirring uncertainty among investors as the nation with the world’s biggest platinum reserves after South Africa tries to bring in money to fix the economy. “No mining right or... 

Post-Mugabe Zimbabwe mining rush leaves big producers behind

By: Bloomberg     3rd April 2018 While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach. New President Emmerson Mnangagwa has a lot to prove as he seeks to revive the economy and attract mining... 

Masisi to lead Botswana as Khama steps down after decade

By: Bloomberg     2nd April 2018 Ian Khama, a former army general who’s led Botswana for the past decade, will step down on Sunday, leaving his deputy Mokgweetsi Masisi in charge of the world’s second-biggest diamond producer until next year’s elections. While Masisi, 55, will inherit one of Africa’s wealthiest and... 

Winnie Madikizela-Mandela dies age 81

By: African News Agency      2nd April 2018 Winnie Madikizela-Mandela, aged 81, has died on Monday, a Mandela family spokesperson confirmed. The South African politician and anti-apartheid activist died on Monday, at the Netcare Milpark Hospital, Johannesburg, after a long illness, for which she had been in and out of hospital since the... 

Zimbabwe focuses on policy certainty to revive mining investment

By: Anine Kilian     26th March 2018 The Zimbabwean government is committed to ensuring mining policy certainty to win back investment and revive the industry, Mining and Mining Development Minister Winston Chitando said at an investor seminar in Johannesburg. Addressing delegates at the Harare Indaba, on Monday, he said that the... 

Early days, but some SA firms responding to Zimbabwe’s open-for-business pledge

By: Martin Zhuwakinyu     23rd March 2018 Robert Mugabe may no longer be at the helm of Zimbabwe Inc, but the mess he created over his 37-year rule remains – the country’s infrastructure is, for the most part, in a sorry state, its economy is moribund and unemployment has reached ridiculously high levels, with figures as high as 90%... 

Early days, but some SA firms responding to Zimbabwe’s open-for-business pledge

By: Martin Zhuwakinyu     23rd March 2018 Robert Mugabe may no longer be at the helm of Zimbabwe Inc, but the mess he created over his 37-year rule remains – the country’s physical and social infrastructure is, for the most part, in a sorry state, its economy is moribund and unemployment has reached ridiculously high levels, with figures... 

Remembering Julius Nyerere

By: Martin Zhuwakinyu     23rd March 2018 It took the threat of impeachment proceedings by his own party to get Jacob Zuma, decidedly the most inept – and venal – President South Africa has ever had, to vacate the Union Buildings on Valentine’s Day. Just under three months earlier, the ruling Zanu-PF party in neighbouring Zimbabwe had... 

Zimbabwe signs $4.2bn platinum deal to transform mining sector

By: Reuters     22nd March 2018 Cyprus-based Karo Resources will invest $4.2-billion to develop a platinum mine producing 1.4-million ounces of platinum group metals annually by 2023, Zimbabwe Mines Minister Winston Chitando said on Thursday. Zimbabwe is again attracting investments into the mining sector after foreign investor... 

Zimbabwe's coal output set to quadruple as investors arrive

By: Reuters     15th March 2018 Zimbabwe has attracted around $300-million in its coal industry that will quadruple production next year versus 2017, its Mining Minister told an investment conference in London on Thursday. The country, which says its abundant mineral resources include more than 40 exploitable minerals, is... 

Eyeing the diaspora dollar

By: Martin Zhuwakinyu     9th March 2018 Zimbabweans are becoming creative when it comes to raising funds to invest in their economy, and the stimulus seems to be the ouster of Robert Mugabe, the long-ruling dictator who ran into the ground a country once hailed as the “jewel of Africa” by Tanzania’s Julius Nyerere. During the latter... 

Amplats CEO seeks friendlier Zimbabwe mining laws to lift investment

By: Reuters     1st March 2018 Zimbabwe must offer foreign miners a consistent legal framework, the right to keep a controlling stake in operations and a greater share of profits to encourage investment, the head of Anglo American Platinum said. The country, home to the world's second largest reserves of platinum after South... 

Zimbabwe says has potential to meet 20% of global lithium demand

By: Reuters     28th February 2018 Zimbabwe aims to supply 10% of the world's lithium and could reach 20%, the mines minister from Africa's top producer of the alkali metal used in batteries for electric vehicles said on Wednesday. "We believe we have the potential to actually account for 20% of global demand when all known... 

Zimbabwe expects mineral revenue to rise to $1.78bn in 2018

By: Reuters     27th February 2018 Zimbabwe expects to earn $1.78-billion from mineral sales in 2018, up from $1.5-billion last year, Masimba Chandavengerwa, chief executive of the government marketing agency, told a mining conference on Tuesday. Political changes that saw former president Robert Mugabe step down last year after... 

Kudos for Liberia’s Johnson Sirleaf

By: Martin Zhuwakinyu     23rd February 2018 In  a recent instalment of this column, I waxed lyrical about former Liberian President  Ellen Johnson Sirleaf, highlighting how she had restored peace to the country, which had been ravaged by an interminable civil war, crowded in much-needed donor finance to rebuild its dilapidated... 

Zimbabwe’s Agoa eligibility up for review this year

By: Terence Creamer     23rd February 2018 The US government will consider Zimbabwe’s eligibility for the trade benefits it extends under the Africa Growth and Opportunity Act (Agoa) during 2018, the State Department’s acting director for economic and regional affairs Harry Sullivan said during a recent telephonic briefing of Africa... 

Zuma is, alas, not an aberration

By: Rebecca Campbell     23rd February 2018 Well, Jacob Zuma is no longer President of the Republic of South Africa, following his “recall” (in effect, order to resign) by his political party, the African National Congress (ANC). The raid on the Johannesburg home of his close associates, the Gupta brothers, on the morning of February 14... 

Zimbabwe, Botswana set to sign diamond deal – report

By: News24Wire      19th February 2018 Zimbabwe is reportedly set to sign a diamond processing deal with Botswana within the next three months, after President Emmerson Mnangagwa met with his counterpart, President Ian Khama, this week in Gaborone. According to the state-owned Herald newspaper, Mnangagwa was in Botswana on a state visit. 

America to consider Zimbabwe’s eligibility for Agoa this year

By: Terence Creamer     13th February 2018 The US government will consider Zimbabwe’s eligibility for the trade benefits it extends under the Africa Growth and Opportunity Act (Agoa) during 2018, the State Department’s acting director for economic and regional affairs Harry Sullivan said during a telephonic briefing on Tuesday. Since Agoa... 

Mugabe's fall has veteran miners jockeying for Zimbabwe comeback

By: Bloomberg     13th February 2018 Robert Mugabe’s fall as Zimbabwe president is setting the scene for the return of a London mining listing for Andrew Groves and his long-term business partner – and former England cricketer – Phil Edmonds. Groves is preparing to relist the pair’s Zimbabwe coal, chrome and gold assets in London... 

Political shifts lift investor mood in Southern African mining

By: Reuters     8th February 2018 Mining is a long-term game, but in Southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year. Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of... 

Zimbabwe to consider waivers on platinum, diamonds ownership law

By: Bloomberg     8th February 2018 Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51% owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting... 

Zimbabwe touts lithium, gold, diamonds potential at mining conference

By: African News Agency      7th February 2018 Zimbabwe's mineral resources have a huge potential to drive the economy in the future, with lithium, gold and diamonds seen leading the way, its mines minister Winston Chitando said. In a presentation to an annual conference on investing in African mining, running from February 5 to 8 in Cape... 

Will Ramaphosa be a transformational leader or preserve the status quo?

By: Saliem Fakir     2nd February 2018 The election in December of Cyril Ramaphosa (CR) as African National Congress (ANC) president has brought a sigh of relief to many South Africans. There is both euphoria and trepidation. The sigh of relief is no indication that mass support for the ANC will be forthcoming any time soon. Jacob... 

Zimbabwe to take over steelmaker's $500m debt

By: Reuters     31st January 2018 Zimbabwe plans to take on about $500-million of debt owed by state-owned steelmaker Zimbabwe Iron and Steel Company (Zisco) to allow a new investor to revive the company. Zisco ceased production in 2008 at the height of Zimbabwe's economic meltdown, but under the Zimbabwe Iron and Steel Company... 

Tharisa's Pouroulis meets Zimbabwe leader, seeks opportunities

By: Bloomberg     26th January 2018 Tharisa CEO Phoevos Pouroulis met Zimbabwe’s new President Emmerson Mnangagwa on January 18, as the Cyprus-based platinum and chrome mining company seeks opportunities in the country with the world’s second-biggest reserves of the metals. Pouroulis was accompanied to the meeting in Mnangagwa’s... 

IMF's Lagarde welcomes Mnangagwa's promise to revive Zimbabwe economy

By: Reuters     26th January 2018 IMF chief Christine Lagarde on Thursday welcomed a commitment by Zimbabwe's new President Emmerson Mnangagwa to stabilise the country's economy and work to improve relations with the international community. Lagarde met with Mnangagwa on the sidelines of the World Economic Forum in Davos,... 

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