Russian company to prospect for gold in Mazowe

By Chipo Musoko, HARARE, September 6 (The Source) – Monita Minerals, a joint venture  between Russian and local investors will next month begin exploration of alluvial gold in Mazowe once an environmental impact assessment has been completed, a company official said on Friday. The project coordinator,… Read More

Bindura Nickel’s cash flow set to improve

HARARE, September 5 (The Source) – The Zimbabwe Stock Exchange-listed mining concern, Bindura Nickel Corporation’s (BNC) cash flow is set to improve following improved production at its Trojan mine, holding company Mwana Africa said in a statement on Thursday. BNC resumed operations last year after… Read More

Falcon Gold considers shutting down mines

By Chipo Musoko, HARARE, Sept 5 (The Source) – Falcon Gold may permanently shut down its remaining mines in the country due to viability challenges and uncertainty surrounding implementation of the empowerment law, the company said on Thursday. In a statement to shareholders, the gold… Read More

Hwange colliery workers in brief sit-in

VICTORIA FALLS, August 27, (The Source) – Coal miner Hwange Colliery’s workers downed tools overnight but quickly reached a compromise with management over outstanding salaries. The workers, from the open pit division, have not been paid for the past four months, and about 200 workers… Read More

RioZim posts $2.3 million loss

By Chipo Musoko, HARARE, August 7 (The Source) – Zimbabwe Stock Exchange-listed mining concern, RioZim has posted a $2.3 million loss for the half-year ended 30 June 2013, an improvement on the $4.9 million loss recorded last year on the back of high interest costs… Read More