Hwange gets $12 mln machinery from China

VICTORIA FALLS, October 2 (The Source) – Coal miner Hwange Colliery Company has received $12 million worth of new machinery from China as the company starts recapitalization initiatives, an official said on Wednesday. Hwange’s Burzil Dube said the mine has been weighed down by obsolete… Read More

Zim losing millions in mines tax dodge

VICTORIA FALLS, October 1 (The Source) – Zimbabwe and other African countries are losing millions of dollars in potential tax revenue from international companies that extract minerals in one country but process them and bank proceeds elsewhere, African Tax Administration Forum (ATAF) executive secretary Logan… Read More

EU takes ZMDC off sanctions list

HARARE, September 17 (The Source) – The European Union has agreed to lift sanctions on the Zimbabwe Mining Development Corporation (ZMDC), which would allow it to sell its diamonds in Europe, Reuters reported on Tuesday, citing the EU. The EU had already “begun the process… Read More