The Planet GOLD Zimbabwe project is spearheading a renewed push to unlock responsible finance for artisanal and small-scale gold miners (ASGM), bringing together government, financial institutions, and mining stakeholders to tackle funding barriers that have long constrained investment in mechanisation, mercury-free processing technologies, and the formalisation of one of Zimbabwe’s most important gold-producing sectors, Mining Zimbabwe can report.
By Ryan Chigoche
The initiative took centre stage at the National Dialogue on Access to Finance for ASGM held in Harare recently under the theme, “Unlocking Responsible Finance for Formalised ASGM: Pathways to Investment, Business Growth and Mercury-Free Mining.”
The dialogue brought together policymakers, regulators, banks, development partners, and representatives of the mining sector to explore financing models that can help artisanal miners access capital, strengthen business practices, and accelerate the adoption of cleaner mining technologies.
Speaking to Mining Zimbabwe on the sidelines of the dialogue, PlanetGOLD Zimbabwe Project Manager Nyaradzo Mutonhori said improving access to finance remains central to the project’s mission of reducing mercury use in Zimbabwe’s artisanal and small-scale gold mining sector.
“We are in the second year of implementing this project, and today we are gathered with stakeholders to discuss innovative financing solutions for artisanal and small-scale gold mining, specifically to access funding to be able to purchase technologies to reduce the use of mercury,” she said.
The financing push comes as many ASGM operators continue to struggle to secure formal credit despite the sector’s growing contribution to Zimbabwe’s gold output. Weak financial records, informal business structures, limited collateral, and inadequate financial literacy continue to prevent many miners from meeting lending requirements, restricting investment in exploration, mechanisation, and modern mineral processing technologies.
Mutonhori said the challenge is not the availability of finance but ensuring that miners are able to satisfy lenders’ eligibility requirements.
“The funds are there. The challenge is meeting the eligibility criteria,” she said.
Drawing on lessons from other countries implementing the global PlanetGOLD programme, she said expanding finance for artisanal miners requires stronger collaboration between governments, financial institutions, and mining communities, particularly through mechanisms that reduce lending risks.
“The greatest issue is about de-risking the sector,” she said, noting that guarantee facilities and strategic partnerships have helped encourage financial institutions in other jurisdictions to finance responsible artisanal mining operations.
To help bridge this gap, PlanetGOLD Zimbabwe is working with the Ministry of Mines and Mining Development, the Zimbabwe School of Mines, financial institutions, and other partners to strengthen miners’ financial literacy, business management capacity, and compliance with environmental, social, and governance (ESG) standards.
A key component of the programme will be the establishment of a Mining Academy to train artisanal miners in financial management, business planning, record-keeping, and responsible mining practices. The initiative will also help miners build verifiable gold delivery records through Fidelity Gold Refinery while promoting occupational safety, environmental management, and the adoption of mercury-free technologies.
Through these interventions, the project aims to improve the investment readiness of at least 20 artisanal and small-scale mining groups, strengthening links between miners and financiers while supporting Zimbabwe’s transition towards a more formal, productive, and environmentally responsible gold mining sector.
