Toronto-listed New Dawn Mining today announced that it was shutting down its 85 percent-owned Dalny Mine near Kadoma because the Zimbabwe Electricity Supply Authority cut power to the project over problems with bill payments. The mine had outstanding trade payables of about $3 million. New Dawn said increasing power and staff costs, harsh royalty regime and an illegal strike contributed to the decision and the company also lays some of the blame for the shutdown on the African nation’s indigenisation policy.
(19 VIEWS)
The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…
An Indian think tank has described Starlink, a satellite internet service provider which recently entered…
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…
Zimbabwe is among the top 30 countries in the world with the widest gap between…
Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…