HARARE – London-listed resources company, Premier African Minerals (Premier), is expecting to register profit at its RHA Tungsten Mine in Zimbabwe in the first quarter of 2016 having opened the mine in “trying times”. The miner recently told shareholders in a corporate update about some of the difficulties at the Zimbabwean project in Matebeleland North…
HARARE – Zimbabwe’s 2,7 percent economic growth projection for next year is out of sync with the country’s five-year economic blueprint goals, Speaker of Parliament Jacob Mudenda has said. Mudenda told delegates attending a Post-Budget Seminar in the capital yesterday that there was need to find ways of growing the economy in line with the…
HARARE – High Court judge Garainesu Mawadze has ordered Freda Rebecca Gold Mine (Private) Limited (Freda Rebecca) to immediately vacate a mining site in Bindura, following allegations that it had illegally invaded the mining claim. This came after two companies Side Electrical (Private) Limited and Jiwe Gold (Private) Limited filed an urgent court application seeking…
HARARE – With barely two weeks after the country’s largest mobile telecom Econet Wireless unveiled an e-commerce marketplace called Ownai, thousands of businesses and individuals have taken up this service. Launched on November 26, 2015, the platform is targeting sellers, particularly small businesses, to sell a wide range of products as well as buyers. [GoogleAd]…
HARARE – Cottco Holdings Limited (Cottco) has postponed its annual general meeting (AGM) which was scheduled for today, a few weeks after the agricultural concern cancelled an extraordinary general meeting (EGM). The company’s acting secretary Pious Manamike yesterday said the postponement was caused by the group’s failure to produce its annual results on time. [GoogleAd]…
HARARE – Stanbic Bank Zimbabwe (Stanbic) parent company, Standard Bank Group, is set to assist its major shareholder, the Industrial and Commercial Bank of China (ICBC), raise R10 billion for power generation. The South Africa-based bank’s chief executive Sim Tshabalala said the deal was in support of the development of South Africa’s power generation infrastructure…
HARARE – Bindura Nickel Corporation (BNC) is forecast to return to profitability next year on the back of anticipated increase in international metal prices in 2016, a leading research firm has said. The latest prediction comes as the troubled Zimbabwe Stock Exchange-listed miner recently recorded a $3,36 million loss in the half year to September…
HARARE – Microfinance institution GetBucks Zimbabwe (GetBucks) will next year launch an Initial Public Offering (IPO) on the Zimbabwe Stock Exchange to raise $3,2 million, the group has said. GetBucks company secretary Paul Soko yesterday said the shares to be subscribed in the IPO were 93 567 251 ordinary shares at a subscription price of…
HARARE – Zimbabwe has transformed the Minerals Marketing Corporation of Zimbabwe (MMCZ) into a fully-fledged mineral exploration corporation as part of strategies to facilitate the growth of the mining industry. This comes after government last week gazetted the Minerals Exploration and Marketing Corporation Bill, which repealed and replaced the MMCZ Act (Chapter 21:04). [GoogleAd] The…
HARARE – Finance minister Patrick Chinamasa says the country is now at an advanced stage of launching a pilot programme meant to explore avenues of curbing tax leakages. Chinamasa told delegates at the launch of the African Capacity Building Foundation report in Harare yesterday that the move was aimed at increasing the authority’s dwindling revenues…
