HARARE – Zimbabwe-focused junior gold miner New Dawn Mining Corporation gold production for the year ended September 30, 2012, surged 41 percent to 37 623 ounces from 26 689 ounces in the previous year. Revenue from gold sales for the fiscal year increased by 62 percent to $61 947 433, as compared to $38 293…
HARARE – Empowerment minister Saviour Kasukuwere says Masawara plc’s acquisition of BP & Shell Marketing Services (BPSMS)’s local assets was unequivocally approved after the company had created a share trust for it’s employees. The view, enunciated in acting Indigenisation secretary Emmanuel Ngwarati’s opposing affidavit, comes as Shingai Mutasa’s company faces renewed legal troubles from a…
HARARE – Power utility, Zesa Holdings has cleared its $76 million debt owed to Hydro Cahora Bassa (HCB) paving way for improved electricity supply in the country. Since early this year, Zimbabwe has been struggling to service the Mozambique debt due to Zesa’s poor billing system and prevailing liquidity challenges in the economy. Energy minister…
HARARE – Zimbabwe’s property market continues to perform relatively better than other investment options such as stocks and to a certain extent money markets despite various economic challenges, says Bard Real Estate (Bre). “Property’s ability to generate income even in difficult operating environments has proven to be its main attraction, unlike most listed companies on…
HARARE – High Court Judge Francis Bere is on Friday expected to make a ruling on politician-cum-businessman Greatman Makaya’s quest to retain his licence for a telecommunications venture. The former Prime Bank Limited promoter has been seeking the restoration of his Information Media Investments (Private) Limited (IMI) telecomms licence cancelled by the Postal and Telecommunications…
HARARE – Electronics giant Samsung has unveiled Galaxy Note II and Galaxy Camera in Cape Town, South Africa, as part of its “world tour”. The Galaxy Note II is the successor to the Galaxy Note. The device features a 5,5” (140,9mm) HD Super Amoled screen, a capability called “Air View” allowing users to hover…
HARARE – National Foods Holdings Limited (NFHL) is seeking authority to have a share buy-back at a price that will not exceed 10 percent of the firm’s issued ordinary share capital on its Annual General Meeting set for early next month. “A press announcement will be published as soon as the company has acquired ordinary…
HARARE – Finance minister Tendai Biti has projected to net over $3,8 billion in tax revenue next year to bolster the 2013 National Budget on the back of full fiscalisation achievement as well as promulgation of the new Income Tax Act. Market watchers however, feel the forecast is ambitious considering that in July, Biti trimmed…
HARARE – Only three mines in Zimbabwe are yet to table plans on how they will comply with the country’s 51 percent indigenisation programme, according to Saviour Kasukuwere, the firebrand Youth Development, Indigenisation and Empowerment minister. Zanu PF hawks, using the indigenisation programme as an anchor for the party’s election campaign for next year’s polls,…
HARARE – Bindura Nickel Corporation (BNC) has embarked on a massive recruitment drive as the mining company gears for full-scale resumption of operations after a four-year breather. BNC’s Trojan Mine, a smelter and a refinery have been on care and maintenance since September 2008 as a result of a collapse in the global nickel prices…
