- BULAWAYO, 15 March 2011 – The African Development Bank says it will avail an estimated $3.62 million emergency package to fund the rehabilitation of obsolete power generation infrastructure at Zimbabwe's Hwange Thermal Power Station as part of a plan to revamp power generation, transmission and distribution facilities across the country. In a statement, the ADB said the project aims to replace and refurbish slurry pumps, booster pumps, turbine auxiliaries and induced draft fans at the Hwange plant, an overhaul which should lead to increased plant capacity and overall national power supply reliability. The project will also cover the refurbishment of the boiler plant, ash…

- Bulawayo - 15 march 2011 - The Zimbabwe government has awarded Israeli firm Slash and Wood Private Limited a tender to buy over 100 gold custom milling and refining plants belonging to the Reserve Bank of Zimbabwe's gold buying subsidiary, Fidelity Printers and Refiners, following the collapse of the gold sector and the country's resultant expulsion from the London Bullion Market. The London Bullion Market revoked Zimbabwe's licence two years ago when gold production tumbled way below the mandatory 10 tonnes per annum and says it will be restored only if Fidelity Printers achieves a net value of US$15 million and an annual gold production of 28 tonnes. Deputy Mines and…

- BULAWAYO - Zimbabwe says it has already started re-processing mining claims awarded in the past and will soon move to repossess all those that are not being utilized or were ‘improperly’ awarded to undeserving applicants. Addressing journalists during a ministerial retreat in the resort town of Victoria Falls , Mines and Mining Development minister Obert Mpofu said the whole process of reviews and the concession seizures likely to follow are part of a raft of sector recovery measures which will be unveiled in a government policy document soon. Mpofu said the measures were in line with government’s desire to see the mining sector, now battered and on its knees, re…

New Dawn Mining Corporation has resumed production at its Turk mine, in Zimbabwe, after being under care and maintenance for nearly four months, the company said. It said the decision "is the result of the recent positive changes to the monetary policy in Zimbabwe made by the Reserve Bank of Zimbabwe." - Under the new policy, gold producers can market and sell their gold directly and are also allowed to keep up to 92.5% of the payment for their gold in foreign exchange; previously, they were forced to convert a big chunk of their earnings into Zimbabwe dollars. The company said it has undertaken an evaluation of Turk mine and concluded that it is “safe” to resume ope…

- By: Oscar Nkala TSX-listed New Dawn Mining Corporation has resumed production at its Turk mine, in Zimbabwe, after being under care and mainte- nance for nearly four months, the company has announced. It says this decision “is the result of the recent positive changes to the monetary policy in Zimbabwe made by the Reserve Bank of Zimbabwe”. Under the new policy, gold producers can market and sell their gold directly and are also allowed to keep up to 92,5% of the payment for their gold in foreign exchange; previously, they were forced to convert a big chunk of their earnings into Zimbabwe dollars. The company says it has undertaken an evaluation of Turk mine and con…