BUSINESS NEWS

Zimra ordered to refund Zimplats $9,5m

ZIMBABWE Revenue Authority (ZIMRA) has been caught on the wrong side of the law in collecting revenue and the High Court has ordered it to pay back $9,5 million it unlawfully garnished from a local mi...

By Staff reporter | Published: 17 September 2018

MINING & RETAIL

New mining status costs Zimplats

ZIMPLATS, the country's largest platinum miner, says its profits declined by 94 percent in the year to June 2018 after the company changed its status from a special mining lease (SML) holder to mining...

By Staff repporter | Published: 06 September 2018

MINING & RETAIL

Mnangagwa's crony gets Zimplats claims

PRESIDENT Emmerson Mnangagwa's crony Lucas Pouroulis, whose company, Karo Resources, recently signed a controversial US$4,2 billion platinum deal with government, has grabbed mineral claims stretching...

By Staff reporter | Published: 08 June 2018

MINING & RETAIL

Zimplats hands over 24,000 hectares to govt

ZIMBABWE'S largest platinum miner, Zimplats, has agreed to release to the Zimbabwe Government land measuring 23  903 hectares within Zimplats' mining lease area in support of the Government's eff...

By Ngoni Shenjere | Published: 06 June 2018

BUSINESS NEWS

Zimplats to lease claims to ranchers

Zimplats has made a request to Mhondoro-Ngezi Rural District Council for permission to lease some of its mining claims for commercial ranching.According to the request, the local authority is set to b...

By Staff reporter | Published: 30 May 2018

MINING & RETAIL

Zimplats up scales CSR

Platinum mining giant, Zimplats has completed a major facelift of Kadoma General Hospital to the tune of over $1 million. The refurbishment of the hospital is expected to boost service delivery which ...

By Staff reporter | Published: 04 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

MINING & RETAIL

Zimplats says local listing won't work

Impala Platinum has said Zimbabwe's plan to compel mining companies to list the majority of their shares on the local exchange isn't feasible and would impede operators' ability to grow and invest in ...

By Bloomberg | Published: 06 April 2018

MINING & RETAIL

Zimplats resumes Bimha operations

ZIMBABWE'S largest platinum miner, Zimplats, is next month expected to resume production at its Bimha Mine, which collapsed nearly four years ago.To date, Zimplats has invested less than half the fund...

By Staff reporter | Published: 08 March 2018

MINING & RETAIL

Zimplats records 30% increase in net profit

ZIMPLATS reported a 30 percent increase in net profit to $21 million for the six months to December, 2017 from $16,2 million in the comparable period last year buoyed by higher prices.Revenue increase...

By The Source | Published: 06 March 2018

MINING & RETAIL

Zimplats to revive Bimha Mine

PLATINUM mining company Zimplats says the redevelopment of Bimha Mine remains on schedule to reach full production in April 2018.Bimha Mine, which collapsed in 2014, affected output, resulting in a 50...

By Staff reporter | Published: 09 February 2018

MINING & RETAIL

Zimplats revenue up 80%

Zimbabwe's largest platinum producer Zimplats Holdings Limited's revenue for the quarter ended December 30, 2017 jumped 80 percent to $184 million from the previous quarter on the back of sale of conc...

By Staff reporter | Published: 02 February 2018

MINING & RETAIL

Zimplats invests $264m in new mine

ZIMBABWE'S largest platinum miner, Zimplats  says it is investing $264 million in the development of a new mine to replace Rukodzi and Ngwarati mines that are facing depletion in the next four an...

By Staff reporter | Published: 10 January 2018

MINING & RETAIL

Zimplats engages local suppliers

Platinum miner, Zimplats is empowering emerging businesses in Mashonaland West Province through engaging them to offer services and products. Currently about 72 percent of all their required materials...

By Staff reporter | Published: 16 October 2017

MINING & RETAIL

Zimplats pockets $14m export incentive

ZIMBABWE'S largest platinum producer, Zimplats has realised $14 million in export incentives, the company revealed in its integrated annual report for 2017.The Reserve Bank of Zimbabwe introduced a fi...

By Staff reporter | Published: 03 October 2017

MINING & RETAIL

Refinery project still a priority in Zim, says Zimplats

Platinum mining giant, Zimplats' $134 million SMC Base Metal Refinery (BMR) refurbishments project remains a priority for the group but continued cash flow constrains arising from depressed metal pric...

By Staff reporter | Published: 18 September 2017

MINING & RETAIL

Zimplats profits rises 522%

Zimplats profit after tax for the full year to 2017 increased 522 percent to 45 million from $7 million the previous comparative period.The platinum mine's profit before tax was also up at $100 millio...

By Staff reporter | Published: 15 September 2017

MINING & RETAIL

Zimplats agrees to cede claims to govt

ZIMPLATS  says it has agreed to give up 28,000 hectares of land, more than half of its idle mining claims to the government, ending a five-year row but analysts say the latest land grab could spo...

By The Source | Published: 14 September 2017

MINING & RETAIL

Zim platinum production expected to drop 9%

Platinum production in Zimbabwe decreased to 105 000 ounces in the second quarter of this year, a 13 percent decline compared to the same period last year, the World Platinum Investment Council (WPIC...

By Ngoni Shenjere | Published: 06 September 2017

MINING & RETAIL

Zimplats competes Ngezi Phase 2 expansion project

ZIMBABWE'S largest platinum producer, Zimplats, says Ngezi Phase 2 expansion project is almost complete and is expected to start production next year.Implats' Zimbabwe unit said $458 million has been ...

By Staff reporter | Published: 05 September 2017

MINING & RETAIL

Bimha pushes Zimplats to record production

Zimbabwe's largest platinum producer, Zimbabwe Platinum Holdings posted a record ore production of 7 million tonnes in FY2017 compared to 6, 6 million tonnes in the previous year.This was on the bac...

By Staff reporter | Published: 31 August 2017

MINING & RETAIL

Zimplats revenue increase 9%

Zimplats revenue for the year increased by 9% from $471.8 million in FY2016 to $512.5 million despite a 5% decrease in 4E sales volumes from 582 833 ounces to 555 892 ounces. Revenue was supported by ...

By Staff reporter | Published: 31 August 2017

MINING & RETAIL

Zimplats records impressive productive capacity

Zimbabwe's largest platinum miner, Zimplats has recorded impressive strides on its productive capacity at a record 6.4 million tonnes per annum as the firm focuses on volumes to hedge against subdued...

By Staff reporter | Published: 28 August 2017

MINING & RETAIL

Zimplats' parent company expects FY loss

Impala Platinum, the parent company of Zimbabwe's largest platinum producer Zimplats, says its headline loss per share for the year ended June 30, 2017 is expected at between 125 and 150 cents per sha...

By Staff reporter | Published: 23 August 2017

MINING & RETAIL

Zim asks court to compulsory acquire Zimplats land

Zimbabwe has filed a court application to enforce a previous notice to seize more than half of platinum producer Zimplats' mining land, the company said on Wednesday.Zimplats, which is majority contro...

By Staff reporter | Published: 02 August 2017
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