Zimbabwe is in the process of amending the indigenisation policy, which will see all mining companies compelled to spend 75 percent of their gross revenue locally, Mines Minister, Walter Chidakwa said today.
Britain was quite aware of the Gukurahundi massacres committed by Zimbabwe’s Five Brigade in the 1980s but it turned a blind eye because Zimbabwe was important for both British and Western economic and strategic interests in Southern Africa, a new report just released says.
Turnall Holding yesterday said it is engaged in discussions to restructure the company’s balance sheet which showed its debt at 250 percent above its networth.
Zimbabwe African National Union-Patriotic Front national political commissar Saviour Kasukuwere is reported to have survived the purge against him yesterday but Jacob Mudenda who was chairing the meeting said he would only present his report next week.
London-listed junior miner Vast Resources says production at its Pickstone-Peerless Gold mine in Zimbabwe grew to 2 974 ounces compared to 2 808oz over the same period last year despite a fall in milled ore.
Zimbabwean banks are holding only two percent of their liquid assets as cash, with more than 36 percent in the form of real-time gross settlement systems (RTGS), a central bank official said today, highlighting the extent of the liquidity crunch in the country.