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Zimbabwe
Harare's takeover of mining conglomerate Kuvimba proves costly

The Zimbabwean government is reported to have paid $1.6bn for a 35% stake in the mining conglomerate active in lithium, gold, platinum and chromium. [...]

Published on 12/07/2024 at 05:40 GMT Reading time 2 minutes

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Mining

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Zimbabwe
John Mangudya
Kuda Tagwirei
Kudakwashe Tagwirei
Kuvimba Mining House
Mutapa Investment Fund
Reserve Bank of Zimbabwe
The Sentry

Inner circles | Zimbabwe
Finance minister Ncube struggles to make mark as Harare's debt negotiator

Mthuli Ncube was little known before he became finance minister in 2018, though he came with an impressive contact book from his time at the African Development Bank. However, he has struggled to make Zimbabwe more democratic as demanded by the country's international financial backers.

Subscribers only Finance, Politics, Diplomacy 15.11.2024

Zimbabwe's finance and economic development minister Mthuli Ncube in Harare on 11 March 2020.

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Harare to assess wind power potential

Cameroon's Noubeg Power and Spain's ATI Consultores have jointly won a €1.5m contract.

Subscribers only Infrastructure 22.08.2024

Zimbabwe
Lithium: Britain's Premier African Minerals finally to start production

Mining veteran and former UraMin boss George Roach's company was forced to postpone production at its Zimbabwe ore processing plant because of technical problems. The firm is backed by China's Canmax, which is to receive the plant's lithium concentrate.

Subscribers only Mining 22.07.2024

Zimbabwe
Behind the scenes of Algy Cluff's lithium project

The British oil and mining veteran visited Zimbabwe twice before signing a contract to resume lithium extraction at the Sandawana lithium deposit. President Emmerson Mnangagwa and the UK's top diplomat in Harare were instrumental in Cluff's decision to re-invest in the country.

Subscribers only Mining 24.06.2024

Zimbabwe
Veteran miner Algy Cluff is back in the game with lithium

The octogenerian British mining and oil entrepreneur is seeking to take over the Sandawana deposit, a former Rio Tinto emerald mine now owned by Zimbabwe's sovereign wealth fund.

Subscribers only Mining 01.05.2024

Zimbabwe
Harare takes over Kuvimba Mining House to erase all links with Kuda Tagwirei

Zimbabwe's Mutapa sovereign wealth fund now owns 100% of the Kuvimba mining group, previously controlled by the president's adviser and businessman, Kuda Tagwirei, who is under US sanctions. The move was intended to encourage investors for other projects that have stalled for lack of financing.

Subscribers only Mining 28.02.2024

Zimbabwe
Government winding up ZMDC with bankruptcy the target

The government wants to transfer the last valuable assets of the state-owned mining company to the Mutapa sovereign wealth fund. The plan then is to declare the company bankrupt...

Subscribers only Mining 20.12.2023

Zimbabwe
Mnangagwa transfers opaque statal mining assets to the sovereign fund

The president's 19 September decision to transfer 17 major government assets, including shares in Kuvimba, Defold and Hwange Colliery, to the Mutapa sovereign wealth fund has sparked general outcry in Harare. Moreover, the fund can now make foreign transactions without prior approval.

Subscribers only Finance, Mining 03.10.2023

Zimbabwean president Emmerson Mnangagwa.

Zimbabwe
Kuvimba conglomerate must finally invest alone in Great Dyke platinum project

Harare has decided to back out of the mining mega-project to avoid becoming embroiled in a delicate situation with controversial businessman Kuda Tagwirei.

Subscribers only Mining 26.07.2023

Zimbabwe
Uncertainty surrounds future of ERG's platinum stake

Harare is preparing to withdraw the Todal platinum project from the Kazakh Eurasian Resources Group. The most likely scenario is a takeover of the asset by Kuvimba, a holding company that is already struggling to raise funds because of its alleged links to businessman Kuda Tagwirei, who is under US sanctions.

Subscribers only Mining 25.04.2023

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Zimbabwe
John Mangudya
Kuda Tagwirei
Kudakwashe Tagwirei
Kuvimba Mining House
Mutapa Investment Fund
Reserve Bank of Zimbabwe
The Sentry

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Harare's takeover of mining conglomerate Kuvimba proves costly

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Mnangagwa transfers opaque statal mining assets to the sovereign fund

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Uncertainty surrounds future of ERG's platinum stake

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Indigo Publications' websites

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Zimbabwe Harare's takeover of mining conglomerate Kuvimba proves costly

This article may be accessed by subscribers

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create a free account

Set up email notifications for these topics

Inner circles | Zimbabwe Finance minister Ncube struggles to make mark as Harare's debt negotiator

Zimbabwe Harare to assess wind power potential

Zimbabwe Lithium: Britain's Premier African Minerals finally to start production

Zimbabwe Behind the scenes of Algy Cluff's lithium project

Zimbabwe Veteran miner Algy Cluff is back in the game with lithium

Zimbabwe Harare takes over Kuvimba Mining House to erase all links with Kuda Tagwirei

Zimbabwe Government winding up ZMDC with bankruptcy the target

Zimbabwe Mnangagwa transfers opaque statal mining assets to the sovereign fund

Zimbabwe Kuvimba conglomerate must finally invest alone in Great Dyke platinum project

Zimbabwe Uncertainty surrounds future of ERG's platinum stake

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Senegal
Guns and oil drive Russia's Dakar courtship

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Zimbabwe
Harare's takeover of mining conglomerate Kuvimba proves costly

Inner circles | Zimbabwe
Finance minister Ncube struggles to make mark as Harare's debt negotiator

Zimbabwe
Harare to assess wind power potential

Zimbabwe
Lithium: Britain's Premier African Minerals finally to start production

Zimbabwe
Behind the scenes of Algy Cluff's lithium project

Zimbabwe
Veteran miner Algy Cluff is back in the game with lithium

Zimbabwe
Harare takes over Kuvimba Mining House to erase all links with Kuda Tagwirei

Zimbabwe
Government winding up ZMDC with bankruptcy the target

Zimbabwe
Mnangagwa transfers opaque statal mining assets to the sovereign fund

Zimbabwe
Kuvimba conglomerate must finally invest alone in Great Dyke platinum project

Zimbabwe
Uncertainty surrounds future of ERG's platinum stake