Zimbabwe banks told not to process Zimplats exports

Zimbabwe's central bank has ordered the country's banks to stop processing mineral exports by Impala Platinum's local unit, which it accuses of failing to comply with an order to bank locally, a state newspaper said on Friday. A spokeswoman for...

Rio's Zimbabwe spin-off covets Murowa diamond mine

Zimbabwe's RioZim Limited has opened talks with Rio Tinto in a bid to take full control of the Murowa diamond mine as the global mining major seeks to leave the gem business, a key shareholder said on Thursday. Rio Tinto has a 78% stake in...

Trapped Zimbabwe miners accounted for, no injuries

All of around 60 miners trapped underground after an accident and fire at Zimbabwe's Mimosa platinum mine are accounted for and are being bring brought to the surface, the company said on Tuesday. "A number of employees who were accommodated in...

Caledonia lifts q-on-q profit by 420%

TSX-listed Caledonia Mining on Thursday said its quarter-on-quarter net profit skyrocketed by nearly 420% to $7.11-million, while year-on-year profit rose by 275%. Basic earnings a share were 1.4c, compared with 0.27c in the preceding quarter and...

Zimplats Q3 profit soars on higher platinum prices

Impala Platinum's Zimbabwe unit Zimplats reported a 170% jump in third-quarter profit on Monday, buoyed by higher platinum prices. Zimplats said January to March operating profit rose to $52-million from $19-million the previous quarter. Revenue,...

South African consultancy assisting mining industry in Cameroon

Mining engineering consultancy SRK Consulting is currently advising the government of Cameroon on developing a minerals and mining industry in the country, chairperson Roger Dixon tells Mining Weekly.

Zimbabwe's business law seen enriching black elite

The Zimbabwean government's drive to force foreign businesses to give 51% of their shareholding to locals will benefit the few black elite and must be reviewed, Finance Minister Tendai Biti said on Thursday. The controversial so-called...

Zim mining sector to grow by 15.8% this year – Minister

Zimbabwe’s mining sector is expected to grow by 15.8% this year, anchoring the country’s estimated economic growth rate of 9.4%, Mines and Mineral Development Minister Obert Mpofu has said. Addressing a Chamber of Mines breakfast meeting in...

Zimbabwe says now 'owns' 51% of foreign miners

Zimbabwe's government raised the stakes on Thursday in its drive to wrest majority control of foreign mining companies, with a Minister saying the state now considered it owned 51% of firms that have not complied with local ownership laws. "All...

Implats’ Zimbabwe compensation unlikely at market rate – Liberum

South Africa’s platinum major Implats, which has reached an enforced in-principle agreement on indigenising 51% of its Zimplats assets, is unlikely to be compensated by the Zimbabwean government at the market rate, mining analyst Liberum Capital...

Bongani Nqwababa

Position: Finance director of Anglo American Platinum (Amplats) Main activity of company: Leading global platinum group metals (PGMs) producer Date and place of birth: March 5, 1966, in Harare, Zimbabwe Education: B Acc (Hons), MBA, CA (Zimbabwe)...

Implats dispute with Zimbabwe deepens

A war of words between South Africa's Impala Platinum and Zimbabwe intensified on Thursday, when the world's second-biggest platinum producer denied offering to hand over a stake in its local unit to the government. A senior Zimbabwean Minister...