Chrome producers engage MMCZ over pricing

SMALL-SCALE chrome miners have engaged the Mineral Marketing Corporation of Zimbabwe (MMCZ) to adopt a market-based pricing system to cut out losses and nurse the sector back to viability. BY MTHANDAZO NYONI Small-scale producers export chrome through Apple Bridge Investments (Apple Bridge), a special purpose vehicle established by MMCZ to …

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Govt to improve diamond sector governance

MINES minister Winston Chitando says the national diamond policy, which is expected to improve the governance of the sector, is now “imminent”. BY FREEMAN MAKOPA The policy will be launched by President Emmerson Mnangagwa in the last quarter of the year and is expected to open the sector to new …

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NicozDimond, Tristar merger commences

The directors of Tristar Insurance Company Limited (Tristar), a short-term insurance unit of First Mutual Holdings Limited (FML), have passed a resolution to seek the approval of the Minister of Finance and Economic Development to transfer its business to NicozDiamond Insurance Limited (NicozDiamond). BY TATIRA ZWINOIRA FML last month finalised …

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Boom in Mine Entra bookings reflects growing business confidence

This year’s edition of the Mining, Engineering and Transport (Mine Entra) expo is already 93% booked, a sign of growing business confidence in the sector and strong international interest in doing business with Zimbabwe. BY MTHANDAZO NYONI Mines and Mining Development minister Winston Chitando is expected to officially open the …

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Econet launches Cholera Crisis Fund

Business Reporter Econet Wireless Zimbabwe’s banking subsidiary Steward Bank, yesterday launched a $2 million National Cholera Crisis Fund that is meant to raise funds for the cholera crisis that has engulfed some parts of the country. The cholera outbreak was first declared on September 6, 2018, in the Glen View …

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Oil eases

LONDON. — Brent oil prices eased modestly yesterday but stayed near their highest level this year, supported by concerns that producers may fail to cover a supply shortfall once US sanctions on Iran come into force in November. Brent LCOc1, the global oil benchmark, slipped 18 cents to $78,85 a …

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Gold prices rise

Gold prices rose yesterday along with equities as the US dollar softened, with markets showing little worry over the latest escalation in the US-China trade war. Spot gold climbed 0,4 percent to $1 202,32 an ounce by 0656 GMT. US gold futures were up 0,3 percent at $1 207 an …

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Voluntary disclosure in respect of Excise offences

What are the goods liable to Excise Duty? Excise Duty is levied principally on locally manufactured goods that are classified as excisable. These include alcoholic beverages, unmanufactured tobacco, cigarettes, spirituous beverages, ethanol and beer. Zimbabwe has added other imported goods such as petroleum oils and oils obtained from bitumous minerals …

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Zimra, workers lock horns over lifestyle audits

ZIMBABWE Revenue Authority (Zimra) and its employees have clashed over loss control lifestyle audits after the board approved a policy which permits use of the audit findings as a basis for contract renewal. BY FIDELITY MHLANGA The body which represents employees of the revenue authority has begun mobilising its members …

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