Govt to announce diamond policy

MINES minister Winston Chitando says he expects to announce a diamond policy later this month, which will also regularise the operations of the State-owned Zimbabwe Consolidated Diamond Company (ZCDC). BY VENERANDA LANGA The policy is expected to lead to the unbundling of ZCDC and put legal requirements for mining companies …

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ZCDC ploughs $7m into community

Africa Moyo Senior Business Reporter The Zimbabwe Consolidated Diamond Company (ZCDC) has extracted 2,4 million carats (almost 0,5 tonne) in the first 10 months to October — and ploughed over $7 million back into the community. ZCDC chief executive officer Dr Moris Mpofu, told The Herald Business in emailed responses …

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Zimra suspends two senior staff

Africa Moyo and Martin Kadzere The Zimbabwe Revenue Authority (Zimra) has suspended two senior officials in connection with the recent alleged attempt by some employees to siphon $2,3 million from the Authority. Finance deputy director Ms Everjoy Maniwa and head of e-cargo tracking system Mr Alois Manhire, were suspended to …

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Firm introduces security system

Business Reporter Nations Hardware and Electrical, which is in partnership with a Chinese conglomerate Hikivision, has introduced a wireless security alarm system in Zimbabwe to cater for both company and home security needs. The Hikivision alarm system, is wireless and can be integrated into CCTV systems and accessed from anywhere …

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Trade deficit narrows to $127m

Golden Sibanda Senior Business Reporter Zimbabwe’s negative trade balance narrowed markedly in August this year, falling 42 percent to $127,2 million on the back of strong growth in exports, the Reserve Bank of Zimbabwe (RBZ) said in its monthly economic review for August. This came as overall merchandise trade increased …

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Zim on course to record gold delivery

Ishemunyoro Chingwere Business Reporter  Zimbabwe is on course to achieving record breaking gold deliveries this year with the set target of 34 tonnes for the year expected to be surpassed. Speaking at the official send-off of the gold mobilisation task-force on Sunday, Mines and Mining Development Minister Winston Chitando implored …

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‘Zimbabwe could be gateway to investment’

Business Reporter Zimbabwe could be the gateway to investment into Africa through establishment of an Offshore Investment Centre with strong links to the local one-stop investment shop for processing investments. The Minister of Finance and Economic Development, Professor Mthuli Ncube, said this dream was part of the country’s Vision 2030 …

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Oil prices down on Iran sanction exemptions

LONDON. — Oil prices fell on Tuesday after Washington granted sanctions exemptions to top buyers of Iranian oil, lifting supply concerns and turning the market’s focus to worries that an economic slowdown may curb fuel demand. Benchmark Brent crude futures LCOc1 were down 53 cents at $72,64 a barrel by …

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United Refineries to invest $30 million in soya bean production

AGRO-PROCESSING concern United Refineries Limited (URL), together with its partners, says it will invest about $30 million in soyabean outgrowers’ project with a target to satisfy its demand for the edible oil seed. BY MTHANDAZO NYONI URL chief executive officer Busisa Moyo told journalists in Bulawayo on Monday that the …

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