Under the agreement, clean technology developer Suzhou TA&A agreed to purchase, in advance, spodumene concentrate six (SC6) worth US$34,6 million from Premier to enable the construction and commissioning of a large-scale pilot plant at the Zulu lithium project.
Existing mines and new smelters have lodged applications for an additional 2 100 megawatts (MW), documents obtained by NewsDay Business showed, indicating the crisis may deepen from 2025, when new smelters come on stream.
BY SHAME MAKOSHORI DAIRIBORD Zimbabwe Limited’s outgoing chief executive officer (CEO) Anthony Mandiwanza yesterday laughed off speculative reports that he influenced the appointment of a sweetheart to succeed him as he bows out after 26 years at the helm. In a surprise move, Mandiwanza last week announced that he would be leaving the Zimbabwe Stock […]
In a recent interview with our sister paper the Zimbabwe Independent, Agriculture secretary John Bhasera said rehabilitation of irrigation facilities would be accelerated to help the country deal with climate change and poor rainfall.
BY TATIRA ZWINOIRA THE Zimbabwe Stock Exchange (ZSE) yesterday listed an agricultural-based Exchange Traded Fund (ETF), becoming the fourth this year and the fifth listing on ZSE. Named the Cass Saddle Asset Management Agriculture Exchange Traded Fund, the ETF took off with seed capital of $36 199 404 and additional investments will be used to […]
In a brief to members titled June 2022 Inflation and Currency Developments Update, Zimbabwe’s biggest industrial lobby said markets had been thrown off balance by rocketing month-on-month inflation, which this month charged towards a record 35% last seen in July 2020.
Fossil, a relatively unknown outfit with interests spanning from construction to mining, clinched a deal to buy Associated International Cement Limited (AICL)’s 76,5% stake in the business for an undisclosed amount.
BY MTHANDAZO NYONI A LEADING resources campaigner has piled fresh pressure on government to cancel a big coal mining project in Hwange, saying Zimbabwe must swing towards eco–friendly investments. The Centre for Natural Resource Governance (CNRG) said swaths of coalfields being exploited by Beifa Investments, a Chinese firm, in Hwange’s Dinde area would have significant […]
The plan has been in place for several years, but it became a crucial part of Zimbabwe’s battle to stem economic decline ever since bloody confrontations exploded between Russia and Ukraine in February. This sparked shortages in a cluster of crucial commodities, including wheat and oil.
In a statement, GDI said its decision to exit the project is “in connection with the global sanctions imposed by Western countries against Russia, which naturally also applies to Russian investments abroad”.
Last week, the Zimbabwe dollar continued its unabated fall against the United States dollar to US$1:$308 from US$1:$258 officially, while it is now trading at $550 on the parallel market from $400 the previous week.
AFC Commercial Bank, which bounced back to profit during the year ended December 31, 2021 said it submitted a recapitalisation plan to the Reserve Bank of Zimbabwe (RBZ) to raise its capital threshold to US$30 million.