Vast Resources explores new opportunities

VAST Resources Zimbabwe is exploring new mining opportunities and intends to revitalise its historic claims, as it seeks to increase its footprint in the country, riding on the significantly transformed investment and political climate. Already, the AIM-listed mining concern holds a 95 percent stake in Eureka Gold Mine, which it …

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fastjet begins Hre-Byo flights

Budget airline, fastjet, is set to commence daily flights between Harare and Bulawayo beginning July 20, in tandem with a Government decision to allow local aviation firms to also ply domestic routes. Previously, domestic routes were a preserve for national airline, Air Zimbabwe. But operational challenges dogging the national flag …

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Govt moves to recapitalise CSC

Government has moved closer to concluding a deal to recapitalise the Cold Storage Company (CSC) with potential investors, Lands, Agriculture and Irrigation Development Minister Perrance Shiri has said. The giant beef processor is among the 12 state enterprises earmarked for speedy recovery under the parastatal reform initiative being implemented by …

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TelOne faces $23m bill from dismissed staffers

EIGHTY-two dismissed former employees of fixed telecoms operator, TelOne, are demanding compensation amounting to $23 million as dues accumulated from salaries arrears, unpaid benefits and retrenchment packages following their alleged “unofficial and unlawful” dismissal 14 years ago. The dismissed workers claim that due process of employment termination was not followed, …

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Nedbank offers $75m offshore finance facility

NEDBANK Zimbabwe has availed a $75 million line of credit facility through its mother company, Nedbank South Africa under which pre-and post-shipment offshore finance will be offered to exporters. BY MTHANDAZO NYONI Speaking during the ZimTrade-Banks exports awareness seminar recently, Nedbank Zimbabwe acting business manager Patience Kadivirire revealed that the …

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Companies comply with food fortification

Local companies have complied with the food fortification programme introduced last year to prevent micro-nutrient deficiency disorders among consumers, a government consultant has said. BY MTHANDAZO NYONI In an interview with NewsDay on the side lines of a food fortification workshop held in Bulawayo on Tuesday, Health and Child Care …

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Gold slips

LONDON. – Gold headed lower yesterday, weighed down by a stronger dollar, and may re-test a seven-month low after a failed attempt to break higher in the previous session. Spot gold was down 0.3 percent at $1,253.60 an ounce by 1030 GMT, after retreating from its highest since June 26 …

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Oil workers strike

OSLO. – Hundreds of workers on Norwegian offshore oil and gas rigs went on strike yesterday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher. One union said hundreds more workers would join the strike on Sunday if …

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Mercury and the environment

Africa hosts a third of the world’s mineral wealth and has significant deposits of gold, Zimbabwe is no exception. The country’s endowment with vast gold reserves has given rise to artisanal gold mining, whose use of mercury in gold processing has brought several environmental and health impacts. World over, emerging …

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TelOne hosts fintech solutions hackathon

Business Reporter— TELONE Centre for Learning (TCFL), a subdivision of rising fixed telecommunications firm, TelOne, will this week host a OneMoney mobile financial services hackathon, with the aim of promoting product innovations. The hackathon will be held in collaboration with South Africa’s FinMark Trust. It will run from Friday to …

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