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Falgold scouts for Dalny takers after AFCR deal collapse

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Posted by admin 13 days ago (http://source.co.zw)
BULAWAYO, October 9 (The Source) – Major shareholders of junior gold miner Falcon Gold Zimbabwe have started scouting for new potential buyers for the mothballed Dalny Mine following the pulling out of an earlier suitor London based African Consolidated Resources which failed to raise $12 million to pay for the purchase of the Kadoma based […]

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Falgold banks on Turk Mine revamp

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Posted by admin 12 days ago (http://source.co.zw)
HARARE, October 10 (The Source) – Recent upgrades at Falgold’s Turk Mine, near Bulawayo, will boost production and will help the group return to profitability by the end of the year, New Dawn Mining Corp. chief executive Ian Saunders has said. The Canada-listed New Dawn has an 85 percent controlling shareholding in Falgold. Turk Mine […]

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Property sector sneezes as economy catches cold

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Posted by admin 12 days ago (http://source.co.zw)
By Kuda Chideme, HARARE, October 10 (The Source) – Zimbabwe’s property sector is reeling from the marked slow-down in economic activity over the past year, with defaults on rentals and declining occupancy levels resulting in diminishing revenues. The government has had to revise its earlier optimistic 2014 economic growth target of 6,1 percent to 3,1 […]

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Natfoods, Econet losses drag ZSE lower

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Posted by admin 12 days ago (http://source.co.zw)
HARARE, October 10 (The Source) – The equities market on Friday ended the week lower, with the industrial index shedding 0.84 points to close at 189.14 cents, weighed down by losses in Natfoods and Econet. Natfoods, which this week announced the resignation of chief executive Jeremy Brooke, moved 10 cents down to 300 cents while telecoms […]

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Colliery firm Makomo makes inroads into regional export market

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Posted by admin 13 days ago (http://source.co.zw)
VICTORIA FALLS, October 9 (The Source) – Zimbabwean coal miner Makomo Resources has expanded its market into the region following increased coke production, with exports to South Africa, Zambia and DRC, a company director has said. Makomo Resources is slowly penetrating the regional export market once dominated by struggling Hwange Colliery, whose output has been […]

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Zimbabwe requires $5bln for roads, to collect $102 mln toll fees in 2014

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Posted by admin 13 days ago (http://source.co.zw)
By Bernard Mpofu, HARARE, October 9 (The Source) – Zimbabwe requires $5 billion to rehabilitate its road network, ideally through public private partnership deals as funds generated through toll fees are not enough to rebuild the strategic infrastructure, a senior government official said on Thursday. Transport secretary Munesu Munodawafa told delegates attending the Utho Capital […]

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SADC energy demand up 32pct against limited investment

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Posted by admin 13 days ago (http://source.co.zw)
HARARE, October 9 (The Source) -  Electricity demand in the SADC region has risen by 32 percent to 54,000 megawatt (MW) over the last decade, further widening the energy deficit at a time when there is limited investment in the sector, an industry expert has said. Southern African Power Pool (SAPP) chief market analyst Musara […]

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Zimbabwe ferrochrome industry needs $85mln to surpass all-time high output

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Posted by admin 13 days ago (http://source.co.zw)
HARARE, October 9 (The Source) – Zimbabwe’s ferrochrome industry requires at least $85 million to ramp up production to 540,000 tonnes over the next four years, after output fell way below the all time peak of nearly 300,000 tonnes recorded in 1996, the Chamber of Mines has said. Zimbabwe produced 129,554 tonnes of high carbon […]

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