Mining requires $400mln funding in 2018

HARARE, December 8 (The Source) – Zimbabwe’s mining sector requires at least $392 million in working capital to sustain operations in 2018, up from the $211 million which was invested this year, an industry survey has revealed.

BNC net income up 90pct in H1

HARARE, December 7 (The Source) – Bindura Nickel Corporation’s net income grew 88 percent to $2,2 million from $1,2 million in the six months to September, driven by higher mineral prices and cost management initiatives.

PPC reject Fairfax deal

HARARE, November 23 (The Source) – Regional cement maker Pretoria Portland Cement (PPC) has turned down Fairfax Africa Investments’ partial offer, saying was not ‘fair and reasonable.’ PPC had appointed Investec Bank to provide an opinion in respect of the partial offer, which concluded that… Read More

Platinum output falls 21pct in Q3

HARARE, November 23 (The Source) – Zimbabwe’s refined platinum production in the third quarter of 2017 declined by 21 percent from 120,000 ounces last year to 95,000 ounces owing to furnace maintenance work, reported World Platinum Investment Council (WPIC). In 2016, the southern African nation… Read More

Zimasco agrees marketing deal with US-based firm

HARARE, November 19 (The Source) – The Zimbabwe Mining and Smelting Company (Zimasco) has signed an agency agreement with New York-based Traxys to market and distribute its ferro-chrome products in North America, a deal seen reviving the struggling miner.