British investors interested in the local diamond industry have to consult the embassy in Harare for advice as the sector is politically sensitive, a new report has warned.
The mining sector has so far released $38 million out of the $176 million it pledged to Community Share Ownership Trusts (CSOT), an official has said.
The State-run Zimbabwe Mining Development Corporation (ZMDC) says it is negotiating with a number of potential investors to partner it in exploring for more diamond reserves.
CANADA-BASED Caledonia Mining Corporation plans to invest $50 million to expand operations at its Blanket Mine in Matabeleland South between next year and 2017.
RIOZIM is set to raise money from existing shareholders to resuscitate mining activities at Cam & Motor Mine which has been closed for the past 46 years.
THE government is set to move in and plug leakages in the mining sector where minerals have been spirited out of the country,.
PLAYERS in the mining sector are set to record mixed fortunes in the second half of the year due to depressed commodities prices and low output from various minerals.
RIOZIM Limited saw losses widening to $7,5 million in the half year ended June 30 from $2,85 million in the same period last year .
ZIMBABWE Platinum Mines Limited has stopped all mining operations at its Bimha Mine and it could lose up to 70 000 platinum ounces.
THE mining sector revenue collection for royalties surpassed its target by 45% to $112,6 million for the first half of the year due to collections boosted by the debt set-off done in March.