Tawanda Karombo (Harare) – Australian listed Information Technology (IT) concern, Cape Range has revealed plans to acquire an equity stake in Ox Mining, a Zimbabwean gold mining company that owns the Inez gold mine and other gold properties in Kadoma. Cape Range will exercise its option to acquire a 90 percent equity interest in Ox Mining and whose Inez gold mine is currently “producing gold from the surface sands and supergene/saprolite zone, down to a depth of about 12 metres”. The mine had its first full production in July and produced over 400 ounces of the precious resource. Ox Mining... Continue Reading
Tawanda Karombo (Harare) – CALEDONIA Mining Corporation, which operates the Blanket gold mine in Zimbabwe, realized C$4.15 from the sale of 3,408 ounces of gold for the second quarter ended June 30 2010 and registered a gross operating profit of $1.26 million. Net profit from continuing operations was C$322,000 or $0.001 per fully diluted share. The company’s gold mining operations were however dented by “electricity supply interruptions” which averaged over 30 percent, said Stefan Hayden, Caledonia’s chief executive officer. “The high levels of electricity interruptions contributed substantially to an increase in the average cost per ounce of gold produced due... Continue Reading
By Nawa Mutumweno – Despite the winds of the economic downturn having blown through the country recently, Zambia’s allure to attract investments in many sectors of the economy has not faded. With a magnetizing business environment in place, the country has continued to ‘beckon’ and retain various Greenfield investment ventures that are set to change its economic configuration. Commerce, Trade and Industry minister Felix Mutati last November reiterated Government’s desire to continue reforming and improving the business framework in order to accelerate developmet. Government has introduced programmes that support private sector growth as the engine to drive the economy to... Continue Reading
By Nawa Mutumweno – Zambia has over the years established and enjoyed favourable and sustainable ties with the East, specifically India, China and Japan. These ties spring from the pre-independence days and were cemented during Zambia’s early days under President Kenneth Kaunda. During a recent visit by Indian Vice President Shri Mohammad Hamid Ansari, he called for the deepening of bilateral ties between the two countries. This visit was undertaken between January 5 and 7, 2010 which also saw him visiting Botswana and Malawi. “Zambia and India have historically been close allies in the struggle for independence, equality, human rights,... Continue Reading
By Nawa Mutumweno – The Zambian Information Communications and Technology sector has grown substantially in recent times, becoming a key factor in the country’s economic dispensation. From the time the ICT Policy was launched in March 2007, the sector has recorded developmental strides worth writing home about. The policy, although deficient in some areas at the time, has given birth to legislative instruments that have potential to spur unprecedented growth in all the ICT sub-sectors. One of the key objectives of the policy (which promulgates telecommunications, information technology, electronic media and postal services) in terms of developing the Zambian ICT... Continue Reading
