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China to Help Build $3 Billion Coal Plant in Zimbabwe

“CGGC will develop the project and assist with the fund raising,” Caleb Dengu, chairman of Rio Energy Ltd said last week. The power plant at Sengwa will be constructed in four phases of about 700 megawatts each, bringing total capacity to 2,800 megawatts. “We have coal reserves to support a 10,000 megawatt plant at Sengwa,” Dengu said. A 250 kilometer (155-mile) pipeline will carry water from Lake Kariba to Sengwa. The pipeline, and a 420 kilovolt-ampere power line, will be built by PowerChina, said Dengu. The first phase of the project will cost about $1.2 billion, he added. The Industrial and Commercial Bank of China has given a formal expression of interest in the project and is negotiating with Sinosure, also known as the China Export and Credit Insurance Corp, to cover country risk in...

Prospect extends rights issue closing date

AUSTRALIAN lithium developer, Prospect Resources Limited (PRL) has extended the closing date of its rights issue offer, announced earlier this month, by a week to May 11 due to the impact of COVID-19. The rights issue offer is a non-renounceable entitlement issue of one share for every four shares held by shareholders at an issue price of AUD0.05 (3 US cents) per share. Based on the capital structure of the company as at the date of the offer, a maximum of 61 397 940 Shares would be issued to raise up to AUD3 069 897 (US$2 million) in capital. “The company advises that it is aware that as a result of COVID-19, there may have been delays associated with postage, which has impacted the timely delivery of the prospectus and personalised entitlement acceptance form to eligible shareholders of ...

Drought blights 2019/20 agricultural season

THE 2019/2020 agricultural season was marked by a delayed onset of the rainy season and a false start throughout the country due to continued drought-like conditions, findings from a government report show. BY TATIRA ZWINOIRA The Ministry of Lands, Agriculture, Water and Rural Resettlement conducts three national crop and livestock assessments every year. The report under review is from the first assessment for the period between January 28 and February 10, 2020. Zimbabwe’s agricultural season has been hit hard by continued drought like conditions for the current 2019/20 season that was a spillover from the 2018/19 season. “The 2019/2020 season was marked by a delayed onset of the season and a false start throughout the country. The government, private sector and NGOs supported production ...

Blanket Mine to inject US$21m into operations

GWANDA-BASED mining concern Blanket Mine intends to invest about US$21,1 million this year to maintain its existing operations and implement the Central Shaft, the company revealed in a report. — BY MTHANDAZO NYONI In its latest management discussion and analysis of the consolidated operating results and financial position for the year ended December 31 2019 and for the period ended March 18 2020, Caledonia Mining Corporation (Caledonia), which holds a 64% shareholding in Blanket, said the funds would be used to implement the Central Shaft. Caledonia announced in July last year that the Central Shaft had reached its target depth of 1 204 metres after pumping in about US$18 million. Work on equipping the shaft has commenced and is expected to be completed in the fourth quarter of 2020, afte...

Zimbabwe ‘Lamborghini MP’ Challenges Colleague To US$50 000 Supercar Race

Zimbabwe MP Challenges Colleague To US$50 000 Race Zimbabwe MP and member of the ruling Zanu PF party, Mayor Justice Wadyejena has challenged businessman Samnuelle Dimairho to a supercar race. The loser of the race between the two loaded men will have to donate a massive US$50 000 ( approximately just over R925 000) to a fundraising campaign for Covid-19. Gokwe-Nembudziya legislator Wadyajena made headlines last year after he purchased a Lamborghini Urus super SUV worth US$420 000 and was accused of exploiting his position to dodge paying customs duty. Wadyajena appeared to stoke the fire when he dismissively said that a Lamborghini cannot be compared to Mercedez Benz AMG. Mayor Justice Wadyajena: Zimbabwe MP Challenges Colleague To US$50 000 Race Dear Cde Idi Amin Dada, To place Lamborghi...

New Report Says Virus Could Worsen Zimbabwe’s Hunger Crisis

The southern African nation is “one of the world’s top global food crises,” the U.N. children’s agency, the World Food Program and the Food and Agriculture Organization said in the report released Monday. More than 4 million rural people, about a third of Zimbabwe’s population, “are in need of urgent action,” the report says. More than half of Zimbabwe’s 15 million people need food assistance due to droughts, floods and worsening economic problems, according to WFP, which was already assisting about 3.5 million people well before the pandemic. Urgent food assistance is needed, said WFP country director Eddie Rowe. Zimbabwe’s economy has imploded in the past year, with annual inflation rising to more than 600%. Shortages of cash, gas, clean water, electricity and staple foods highlight the ...

Trouble In Paradise For Stunner And Dyonne?… Couple Deletes Each Other On Social Media

Stunner And Dyonne On The Rocks? Couple Deletes Each Other’s Pics There are unconfirmed rumors that rapper Stunner’s marriage to Dyonne, has hit the rocks. This follows after they deleted pictures of each other on social media. The couple are not strangers to break up rumors and occasional spats which often spill into the public. Their marriage has been hounded by lots of controversy, including rumors of infidelity, social media fights and all the negativity which comes with being a couple in the public eye. Stunner and Dyonne have been hailed as one of the strongest couples, as they have managed to survive drama after drama of their relationship and always manage to reconcile at the end of the day. Stunner himself hasn’t indicated that his marriage is hanging by a thread, however he dropp...

Popular Musician Greatman Turns To Vending As He Falls On Hard Times During The Lockdown

Greatman Turns To Vending As He Falls On Hard Times During Lockdown Popular singer Greatman, has turned to vending as the lockdown has started taking its financial toll on him. The ‘Pandakazvarwa’ hitmaker has resorted to selling vegetables on the streets in order to generate income. With the whole country under lockdown, many self employed people, including musicians who mostly have to rely on live shows have felt the blow. Greatman took to his Facebook account to announce his latest business venture saying music wasn’t paying at the moment. Raramo yandikona nano kufa,izere nejambwa nekudzungaira !! Ndofunga mukungoonawo zvikuitika,this covid 19 yatidzidzisa zvakawanda.bdafunga kuronga musika wamirivo namatomatosi,namapotato,zvinobuda ere guys…zvemusic zvakuoma izvviiiii  which can b...

Bundesliga 2019/2020 Winner Predictions

However, some of the most exciting seasons in Bundesliga history have been in recent years when the title race was more open. At the winter break, RB Leipzig and Borussia Dortmund. In March 2020, both teams were within 5 points of Bayern Munich, and its possible one may win the domestic title this season. Of course, most predictions do focus on Bayern Munich, but it’s worth looking at the other candidates that are vying for the top spot.  This guide looks at the current form and the records of the top teams to guide you with some great Bundesliga tips. Whether you are betting on the final result or making a series of match predictions, this guide has everything you need to know. Bundesliga Betting Tips Germany’s top division attracts millions of spectators and thousands of bets each w...

Former Radio 3 DJ Peter Jones ‘PJ’ Dies…Condolences Pour In

Peter Jones Dies: Condolences Pour In For Former Radio 3 DJ Veteran disc jokey, Peter Jones has died. Peter Jones who was popularly known as PJ of The Radio Driver died on Monday night. Jones was now based in the United Kingdom up to the time of his passing. He is said to have suffered complications from a stroke. A close source confirmed his passing to the Herald . “It is true that our PJ is no more. I will furnish you with details soon of the funeral,” His former colleague at the Zimbabwe Broadcasting Corporation (ZBC), Eric Knight also confirmed Jones’ passing last night. “Jones is no more, he had a stroke last year and he has been in and out of hospital,” he said. “He has not been himself for sometime.” He was reportedly staying with his son in London. Fans and friends were saddened by...

Liberty Holdings terminates Zim insurance product

SOUTH African financial services group Liberty Holdings Limited has terminated its Liberty Blue cover in Zimbabwe with effect from June 30 2020 due to harsh economic conditions in the country. — BY MTHANDAZO NYONI According to a confidential email sent to its members and seen by NewsDay Business, the Zimbabwean economy has forced one of the biggest international medical aid companies, out of the country. “The Liberty Blue value proposition was always designed to provide: meaningful and comprehensive cover for our members, financial freedom by eliminating shortfalls, and clinically sound medical outcomes,” read part of the email. “In the past 18 months we have therefore followed a rigorous process to ensure continued delivery on our value proposition. However, despite our best efforts the e...

Caledonia trims number of shareholders for AGM

NEW York Stock Exchange-listed Caledonia Mining Corporation (Caledonia) says its annual general meeting set for May 6 would only be convened with the “minimum necessary quorum of two shareholders” due to the outbreak of COVID-19. BY MTHANDAZO NYONI “The government of Jersey implemented measures on March 30 2020 intended to protect the public from the spread of COVID-19. The measures, amongst other things, include restricting public gatherings to no more than two people,” the company said in a statement yesterday. “The measures were due to end before the AGM (annual general meeting). However, on April 24 2020, Jersey’s Minister for Health and Social Services extended the measures until May 11 2020.” In order to comply with the measure restricting public gatherings, the company’s AGM “will t...