MINING & RETAIL

Global platinum market headed for surplus

The global platinum market will end the year in a surplus of 295 000 ounces as both supply, from main producers Zimbabwe, South Africa and Russia, and demand for the metal will fall by 2 percent, the ...

By Staff reporter | Published: 07 September 2018

MINING & RETAIL

Karo platinum project to create 90 000 jobs

President Mnangagwa yesterday officially launched the $4,2 billion Karo Resources consolidated platinum project in Mhondoro-Mubaira, which is set to create a combined 90 000 jobs as Government steps u...

By Staff reporter | Published: 25 July 2018

MINING & RETAIL

Mnangagwa commissions $4,2bn platinum project

President Emmerson Mnangagwa has officiated at the groundbreaking ceremony of a $4,2 billion platinum mining project at Karo Resources' Mhondoro-Ngezi mining site, where he noted that projects of this...

By Staff reporter | Published: 24 July 2018

MINING & RETAIL

$4,2 billion platinum project takes shape

THE $4,2 billion platinum investment project in Mhondoro-Ngezi has become one of the fastest projects to be implemented under President Mnangagwa's administration, with the investor, Karo Resources of...

By Staff reporter | Published: 04 July 2018

MINING & RETAIL

Tharisa to advance $8 million to Karo Platinum

EUROPEAN headquartered integrated resource group, Tharisa, has pledged to provide $8 million debt facility to Karo Platinum for initial geological and sampling work at the $4,2 billion platinum projec...

By Staff reporter | Published: 21 June 2018

MINING & RETAIL

Tharisa deepens Zim exposure with platinum deal

South African miner Tharisa on Wednesday deepened its exposure to Zimbabwe, saying it had bought a 26.8 percent shareholding in Karo Mining Holdings for $4.5 million.It also bought chrome business Sal...

By Reuters | Published: 13 June 2018

MINING & RETAIL

'Remove indigenisation threshold on diamond, platinum'

Chamber of Mines of Zimbabwe (COMZ) president, Batirai Manhando has urged the government to scrap off indigenisation requirements on diamond and platinum sectors, as failure to do so will chase away i...

By Staff reporter | Published: 31 May 2018

MINING & RETAIL

$4.2bn platinum deal on schedule

Establishment work on the US$4.2 billion deal with Cyprus-based Karo Resources towards a platinum project in Zimbabwe is on schedule with the ground breaking ceremony for the venture expected end of n...

By Staff reporter | Published: 22 May 2018

MINING & RETAIL

Open up diamond and platinum mining

The Chamber of Mines of Zimbabwe (CoMZ) says while Government's decision to scrap the 51/49 indigenisation law requirement for most minerals is plausible, repealing the legislation in the extraction o...

By Staff reporter | Published: 13 May 2018

MINING & RETAIL

Govt steps up platinum value addition efforts

THE Government has stepped up its efforts of adding value to platinum, one of the country's strategic minerals as it forges ahead to accrue potential from its resources.Mines and Mining Development Mi...

By Staff reporter | Published: 06 May 2018

MINING & RETAIL

Zimplats profits up as platinum prices firm

Zimbabwe's platinum mining sector is benefitting from a rebound in global commodity prices, with the nation's biggest producer of the metal, Zimplats, registering a 58 percent growth in profits.The in...

By Staff reporter | Published: 03 May 2018

BUSINESS NEWS

NUST invents prototype platinum purifier

VICE President General Constantino Chiwenga (Retired) yesterday pledged Government support in funding a prototype for Platinum group of metals Processing Plant design developed by the National Univer...

By Staff reporter | Published: 26 April 2018

MINING & RETAIL

$4,2bn platinum deal dodgy venture

QUESTIONS are being raised over Karo Resources Limited's US$4,2 billion platinum investment deal signed by government last month as it emerged that the company has a dodgy background and dual registra...

By Staff reporter | Published: 20 April 2018

MINING & RETAIL

GPR, Chinese partner revive $1,7bn platinum plan

Global Platinum Resources and its Chinese partner, Wanbao Rexco, this week announced plans to revive operations at its 520 million ounces platinum reserves along the Great Dyke belt. Parties to the $1...

By Staff reporter | Published: 06 April 2018

MINING & RETAIL

Zimbabwe's $4,2bn game changer, 90 000 jobs

WHILE the market is still digesting the meaning and implications of the $4, 2 billion platinum deal that was sealed by Government on Thursday last week, judging by the envisaged scope and scale of the...

By Staff reporter | Published: 25 March 2018

MINING & RETAIL

No dispute in historic $4bn platinum deal

Mines and Mining Development Minister Winston Chitando yesterday said the land that has been allocated to Karo Resources - which intends to roll-out a $4,2 billion platinum mining project in the Mhond...

By Staff reporter | Published: 23 March 2018

MINING & RETAIL

Zimbabwe signs $4.2bn platinum deal

Karo Resources, a company linked to mining entrepreneur Loucas Pouroulis, will spend $4.2 billion on a Zimbabwean platinum project in the first big investment since President Robert Mugabe's ousting i...

By Staff reporter | Published: 22 March 2018

MINING & RETAIL

$400m for Darwendale platinum project

Great Dyke Investments (GDI) says it will invest $400 million to build a precious metals mine and smelter at its Darwendale Project near Harare. The investment is the first stage of a total investment...

By Staff reporter | Published: 21 March 2018

Great Dyke to build $400m processing plant in Zim

Great Dyke Investments (GDI) is planning to invest $400m to construct a precious metals mine and smelter as part of the Darwendale platinum deposit project in Zimbabwe.The investment will be directed ...

By Staff reporter | Published: 16 March 2018

MINING & RETAIL

Platinum output to remain stable

Zimbabwe's platinum output is anticipated to remain stable at 450 000 ounces this year, projections from the WIPC indicate. In its fourth quarter report for 2017, WIPC pointed out that Zimbabwe's plat...

By Staff reporter | Published: 15 March 2018

MINING & RETAIL

Russia eyes Zim's diamonds and platinum

Russia's Foreign Minister Sergei Lavrov on Thursday met with Zimbabwe's new President Emmerson Mnangagwa and discussed possible military co-operation as well as plans to boost economic ties.Lavrov, w...

By Staff reporter | Published: 08 March 2018

BUSINESS NEWS

NSSA pursues platinum, lithium investments

Deep-pocketed pensions administrator, National Social Security Authority (Nssa), is pursuing investment opportunities in the mining sector.The statutory body - sitting on a $1,3 billion asset base - i...

By Staff reporter | Published: 07 March 2018

MINING & RETAIL

Zim to introduce 15% penalty tax on platinum

Zimbabwean Vice President Constantino Chiwenga told the conference Zimbabwe will impose a 15 percent penalty tax from Jan 1, 2019, on exports of platinum producers who do not build refining facilities...

By Staff reporter | Published: 28 February 2018

MINING & RETAIL

Zimbabwe slashes platinum royalty rate

GOVERNMENT has slashed the rate of royalty for all platinum group mining companies to 2.5 percent from 10 percent, a move the Chamber of Mines of Zimbabwe says will go a long way in enhancing viabilit...

By Staff reporter | Published: 12 December 2017

BUSINESS NEWS

Indigenisation laws to apply to diamonds, platinum mining

THE 51/49 percent shareholding requirement under the Indigenisation and Economic Empowerment Act would now be applied to investments to extract two precious minerals - diamonds and platinum.Finance an...

By Staff reporter | Published: 08 December 2017
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