• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Science
  • World
  • Lifestyle
  • Tech
Zimbabwe: Kuvimba Mining House Declares US$5 Million Dividend

Zimbabwe: Kuvimba Mining House Declares US$5 Million Dividend

June 24, 2021
Health and Safety in African Mining

Health and Safety in African Mining

June 9, 2023
Shareholders Plan Legal Action Against Mining Company For Unethical Chrome Sale

Shareholders Plan Legal Action Against Mining Company For Unethical Chrome Sale

April 29, 2023
advertisement
ADVERTISEMENT
B.E.D. Cape Town Branch: Consistency, Customer Service and Teamwork

B.E.D. Cape Town Branch: Consistency, Customer Service and Teamwork

April 29, 2023
Armcoil and Schneider Electric Partner to Deliver SKID Substations to Prominent Mining Group

Armcoil and Schneider Electric Partner to Deliver SKID Substations to Prominent Mining Group

April 29, 2023
Zest WEG’s Expanded Middelburg Branch – Improving Services and Delivery for Customers

Zest WEG’s Expanded Middelburg Branch – Improving Services and Delivery for Customers

April 29, 2023
Clear Gear™ Lubricant Sets a New Benchmark for Reliability in Mining

Clear Gear™ Lubricant Sets a New Benchmark for Reliability in Mining

April 30, 2023
The Agreement to Sell Three of Sappi’s European Graphic Paper Mills to the Aurelius Group Lapses

The Agreement to Sell Three of Sappi’s European Graphic Paper Mills to the Aurelius Group Lapses

April 29, 2023
One Platform to Rule All: Guanajuato Silver Selects Micromine

One Platform to Rule All: Guanajuato Silver Selects Micromine

April 29, 2023
Unlocking Value From Data To Drive Better Business Results

Unlocking Value From Data To Drive Better Business Results

June 6, 2023
Global Energy Leaders Named in Africa Oil Week Advisory Committee

Global Energy Leaders Named in Africa Oil Week Advisory Committee

April 29, 2023
Sappi’s Platinum Sustainability Status Is Once Again Verified by EcoVadis

Sappi’s Platinum Sustainability Status Is Once Again Verified by EcoVadis

April 25, 2023
Rosond Appoints Geotechnical Project Coordinator

Rosond Appoints Geotechnical Project Coordinator

April 25, 2023
  • African Mining Brief
  • Magazine Archive
  • Contacts
Saturday, June 10, 2023
African Mining Brief
No Result
View All Result
  • Login
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive
MAGAZINE ARCHIVE
ADVERTISE
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive
No Result
View All Result
African Mining Brief
No Result
View All Result
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive
Home Africa

Zimbabwe: Kuvimba Mining House Declares US$5 Million Dividend

by Dennis Ayemba
June 24, 2021
in Africa
0
Zimbabwe: Kuvimba Mining House Declares US$5 Million Dividend

Image: herald.co.zw

497
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Kuvimba Mining House (KMH) has remitted an initial US$5.2 as dividends to stakeholders and the government. This comes after reversing the fortuity of many toiling mining assets in the country and experiencing a worthwhile performance within its first year of operations, during the financial year ended 31 March 2021.

The Mining House group, which is owned by the government in joint venture with local investment firms, took over the possession and administration of several mining assets in the country in the course of the second half of financial year 2020. Since then, there has been significant improvement in the performance of the underlying mining assets.

Among the investment firms that own KMH are Sovereign Wealth Fund of Zimbabwe, Datvest Nominees, Deposit Protection Corporation, Public Service Pension Management Fund, Insurance and Pensions Commission and National Venture Capital Company of Zimbabwe.

The group manages three gold mines, presently in operation; three non-operational, a couple of chrome operations, a nickel mine and a platinum project.

Speaking in a ceremony in Harare, the Finance and Economic Development Minister Professor Mthuli Ncube, the US$5.2 million is to be distributed as follows: Sovereign Wealth Fund of Zimbabwe – US$520,000.00; Public Service Pension Management Fund – US$560,000.00; Deposit Protection Corporation – US$400,000.00; Insurance and Pensions Commission – US$400 000; Datvest Nominees – US$ 1 million; National Venture Capital Company of Zimbabwe (Pvt) Ltd- US$600 000; and Government of Zimbabwe US$1.720 million.

“During the National Development Strategy 1 (NDS1) period, Government priorities have been placed on developing and strengthening already existing value chains, decentralization of industrialization initiatives and provision of a consistent, stable policy environment for the mining sector,” said Minister Professor Ncube who was the guest of honor.

Read: Zimbabwe: Mnangagwa Premieres Mining Investment Conference

Minister Ncube acknowledged KMH’s contribution to the performance of the underlying mining assets saying that the government had taken the opportunity to partner with willing and able players in the private sector who believe in the National Vision and are desirous to participate in the economic prosperity of the people of Zimbabwe.

In attendance at the event was Kuvimba chairman Mr. Justin Mupamhanga who welcomed everyone to the inaugural event saying that, in the principle of shared prosperity, they will do what they can in their capacity to continue energising Kuvimba.

“The National Development Strategy 1 (2021-2025) NDS1 places prominence on equality of opportunities and non-discrimination, as well as empowerment of Zimbabwean citizens, a principle summarized as ‘leaving no-one and no place behind’. It is in this vein that the company has moulded itself around a diverse shareholder base that is responsive to inclusive development, and embraces all of Zimbabwe’s citizens.”

21,5 percent equity in Kuvimba is held by the government while private sector investors, which include management hold the balance of 35 percent.

Tags: Datvest NomineesDeposit Protection CorporationGovernment of ZimbabweInsurance and Pensions CommissionJustin MupamhangaKuvimba mining houseMthuli NcubeNational Development Strategy 1 (2021-2025)National Venture Capital Company of Zimbabwe (Pvt) LtdNDS1Public Service Pension Management FundSovereign Wealth Fund of Zimbabwe
Share199Tweet124
Dennis Ayemba

Dennis Ayemba

Jan - March 2023 Magazine

Health and Safety in African Mining

Health and Safety in African Mining

June 9, 2023
Shareholders Plan Legal Action Against Mining Company For Unethical Chrome Sale

Shareholders Plan Legal Action Against Mining Company For Unethical Chrome Sale

April 29, 2023
B.E.D. Cape Town Branch: Consistency, Customer Service and Teamwork

B.E.D. Cape Town Branch: Consistency, Customer Service and Teamwork

April 29, 2023

Trending News

  • Business Maverick Zunaid Moti Announces Departure from Moti Group

    Business Maverick Zunaid Moti Announces Departure from Moti Group

    1056 shares
    Share 422 Tweet 264
  • Scraper Winch

    692 shares
    Share 277 Tweet 173
  • Thyssenkrupp Uhde Expertise Extends the Life of Ammonia Tanks

    636 shares
    Share 254 Tweet 159
  • Slope Stability

    618 shares
    Share 247 Tweet 155
  • Underground Support Systems

    599 shares
    Share 240 Tweet 150
  • Another successful turnkey modular construction and transit solution from thyssenkrupp Uhde delivered to a key customer

    597 shares
    Share 239 Tweet 149
  • African Mining Brief
  • Magazine Archive
  • Contacts

© 2023 African Mining Brief I All Rights Reserved Powered by Clivo.

No Result
View All Result
  • Home
  • News
  • Events
  • Industry
  • People
  • Projects
  • Press Releases
  • Magazine Archive

© 2023 African Mining Brief I All Rights Reserved Powered by Clivo.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In