zimbabwe

Zimbabwe: Currency crisis robs Bell of record year

Posted on March 19, 2019March 19, 2019 by Mozambique Resources Post

A new currency regime in Zimbabwe robbed Bell Equipment of a record financial year, giving the company a R87.4-million “ankle-tap that went straight to the bottom line”, said CEO Leon Goosen on Monday.

Africa: Botswana’s president denies report of $600 million diamond-backed loan to Zimbabwe

Posted on March 4, 2019March 4, 2019 by Mozambique Resources Post

GABORONE – Botswana’s president on Friday dismissed a report that the country had offered Zimbabwe a $600 million diamond-backed loan and said his government had only offered to guarantee a $100 million private credit line for Botswana companies to invest in their troubled neighbour.

Africa: Botswana to support Zimbabwe diamond industry with $600m in loans — report

Posted on February 27, 2019February 27, 2019 by Mozambique Resources Post

Botswana has offered to lend Zimbabwe $600 million to support its diamond industry and local private firms, a state-owned newspaper reported on Tuesday, amid a severe dollar crunch in the southern African nation.

Africa Energy: Zambia, Zimbabwe cut Kariba Dam power generation

Posted on February 26, 2019February 26, 2019 by Mozambique Resources Post

Zambia and Zimbabwe reduced power generation to around half capacity at their power stations at the Kariba Dam as water levels in the reservoir fell, Zambia’s State-owned Zesco said on Monday.

Mining vs Safety: Zimbabwe to review safety laws after fatal incident

Posted on February 20, 2019February 20, 2019 by Mozambique Resources Post

Zimbabwe’s government will review mining legislation to improve safety standards in the industry, after 24 miners died when two gold shafts collapsed, the Herald reported, citing Mines Minister Winston Chitando.

Mining vs Safety: Zimbabwean rescuers pull 22 bodies from mine, eight more found alive

Posted on February 18, 2019February 18, 2019 by Mozambique Resources Post

Zimbabwean rescuers pulled the bodies of at least 22 illegal gold miners out of shafts west of Harare that were flooded earlier in the week, and rescued eight more alive, officials and witnesses said on Saturday.

Africa Energy: Zimbabwe electricity imports to continue until 2027

Posted on January 22, 2019January 22, 2019 by Mozambique Resources Post

Zimbabwe is expected to continue relying on electricity imports for the next eight years due to lack of investment in the sector, a leading international think-tank has said quoted by Bulawayo News.

Africa Oil & Gas: Zimbabwe Now Has The Most Expensive Gasoline In The World

Posted on January 15, 2019January 15, 2019 by Mozambique Resources Post

Zimbabwe is on a three-day nationwide strike and protests are erupting in the streets after the government of the southern African country doubled fuel prices, making gasoline sold in Zimbabwe the most expensive gasoline in the world.

Africa Mining: Zimbabwe mining minister invites De Beers, Vast Resources to return

Posted on December 18, 2018December 18, 2018 by Mozambique Resources Post

De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said.

Africa Mining: “Zimbabwe’s handling of diamond industry the ultimate test for Mnangagwa’s reform” – report

Posted on December 7, 2018 by Mozambique Resources Post

Zimbabwean President Emmerson Mnangagwa is under growing pressure one year after taking office following the removal of long-time leader Robert Mugabe. That pressure may be about to increase if his handling of the diamond industry doesn’t reflect his alleged commitment to economic reform and anti-corruption.

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