Zimbabwe gold output down 30% in first quarter

HARARE - Zimbabwe's gold production fell 30% to 3.98 tonnes in the first quarter of this year, while export earnings from the yellow metal also declined, central bank data showed on Friday. The Reserve Bank of Zimbabwe (RBZ) did not give a reason for the decline, but small-scale miners who produce half of the mineral say shafts were flooded by above normal rainfall during the period. RBZ said the southern African nation, which faces perennial shortages of foreign currency, earned $200-million from gold exports in the January-March quarter, down from...
Battery MaterialsGraphiteZimbabwe

Lynx Mine slips into administration

BY CHIEDZA KOWO ZIMBABWE’s sole graphite producer Lynx Mine has sought bankruptcy protection, five years after the Zimbabwe Mining Development Corporation (ZMDC)-controlled operation hit turbulence as international graphite prices plummeted. The 56-year-old firm, formerly a joint venture between the ZMDC and Graphite Kropfmühl GmbH of Germany, at one point scoured the markets courting lenders to inject about US$5 million to fund plant upgrades and mining equipment acquisitions. Lynx Mine’s reserves were expected to last for two decades when it was still operating. As the crisis deepened, the Germans hived off...
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