Australian-listed junior miner Prospect Resources says it has raised $10 million in capital via a private placement which was oversubscribed.
The government has allocated only $2 million for the acquisition of vehicles for chiefs when the bid was for $9 million raising questions as to where President Emmerson Mnangagwa will get the money to buy vehicles for more than 200 chiefs before elections.
CFI Holdings reported an after tax profit of $879 800 for the year ended September 31, 2017 from a $45 million loss in the prior year, driven by a 45 percent increase in revenue.
Government has gazetted the Zisco Debt Assumption Bill, effectively taking over the steel giant’s debt, clearing the way for its takeover by Chinese firm, Tian Li and its revival.
Zimbabwe’s mineral revenue is projected to reach $2.5 billion this year up from $2.3 billion last year, on higher production from gold and platinum miners, the Chamber of Mines has said.
Movement for Democratic Change legislator Eddie Cross says while Zimbabwe is open for business it must be careful that it will not be exploited.
It is not usual for a person who has seized power through a military coup to heap praise upon his deposed predecessor.
Zimbabwe’s legislators have suggested that the government should give mining companies between seven and 10 years to develop their operations before penalizing them for continuing to sell ore.