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Daily Archives: February 22, 2016

Mining sector in dire need of attention

The mining sector was, until recently, the most viable and most promising sector in Southern Africa. This rising trend was also evident in Zimbabwe over the course of the past decade. In 2012 the World Bank projected that Zimbabwe’s investment demands in the mining sector will be around $11 billion. The group …

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Zimplats embarks on Ngezi expansion project

Zimbabwe’s biggest platinum producer, Zimplats said it is going ahead with its Ngezi Phase 2 expansion project in spite of an earlier announcement that it will be postponing some projects to future periods. “Zimplats is basically committed to complete the Ngezi Phase 2 expansion project. Sustainability in the current price environment …

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ZPC to maintain Kariba power generation at 285MW

The Zimbabwe Power Company can sustain power generation at the revised permissible level of 285 megawatts after Zambezi River Authority reduced water allocation for the utility’s Kariba Power Station. Zesa Holdings generation unit downgraded output from the previous production level of 475 megawatts to the current average of 285MW after ZRA …

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Central banks alone cannot conjure growth

“The central bank is neither God nor a magician who can turn uncertainties into certainties.” So, Zhou Xiaochuan, governor of the People’s Bank of China, this week articulated the fear haunting markets. Since the global crisis erupted in 2008, monetary policymakers have pulled off one conjuring trick after another to stabilise …

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‘85 percent of SMEs yet to be licensed’

ABOUT 85 percent of Small to Medium Enterprises are yet to be licensed by the local authorities, official figures from the Ministry of Small and Medium Enterprises and Co-operative Development show. Addressing delegates at the launch of the Informal Sector Formalisation and Co-operative Policy (2005) Review Consultative Processes in Harare last …

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Procurement Draft Bill complete

THE Public Procurement Draft Bill, which seeks to overhaul and modernise the public procurement system is now complete and is expected to become law by June this year. Some of the key target areas of the proposed Bill include the decentralisation of procurement and transformation of the State Procurement Board from …

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PPC appoints new Masiyane as MD for Zimbabwe unit

Regional cement producer PPC has appointed Kelibone Masiyane as managing director for its Zimbabwean unit, replacing Njombo Lekula who was redeployed within the group. “Following the recent re-deployment of former managing director of PPC Zimbabwe Njombo Lekula as the managing director of PPC’s international operations, the country’s executive team has …

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Hwange Colliery restated accounts show H1 losses at $44mln

Struggling coal miner Hwange Colliery Company (HCC)’s restated unaudited financial results for the six months to June 30 last year showed that losses skyrocketed by more than 400 percent to $44 million on a higher tax bill and plummeting sales, the company said on Monday. Acting chairman Jemister Chininga said …

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Updated – Govt shuts down Marange diamond miners for resisting nationalisation

The Zimbabwe government on Monday ordered all diamond miners in the east of the country to shut down operations after they declined its proposals to nationalise the industry, adding that their operating licences had expired. The state has sought to bring all diamond mining operations in the country under one …

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Govt orders Marange diamond mining firms to stop operations

GOVERNMENT on Monday given all diamond mining companies in Marange a 90-day ultimatum to remove equipment after ordering them to halt operations with immediate effect for rejecting a proposal to amalgamate the sector, Mines minister Walter Chidhakwa said after announcing that their licences had also expired. Last March Chidhakwa said …

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