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The Bus Left Me, But the Journey Revealed Lithium’s Hidden Ripples in Goromonzi

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They said the mine offered no benefits. But from a crammed taxi to a vendor’s second stall, I discovered an economy transforming not by handout, but by heartbeat.

By Rudairo Mapuranga

The dust from the official bus was the first insult.

I stood there, on the hot tarmac of Ruwa, watching the taillights of the mine’s press transport vanish into a shimmering haze. It was a clean, air-conditioned capsule carrying my colleagues towards the sanitised spectacle of a ministerial visit to the Arcadia Lithium Mine. Honourable Winston Chitando would be bust touring the Mine. Photographs would be taken. Speeches would be made. And I was late.

A cocktail of panic and professional despair curdled in my stomach. This was the story — the official narrative of investment, progress, and national potential — and I was about to miss it. But as the dust settled, a colder, more compelling thought emerged: what if the real story wasn’t at the mine at all? What if it was in the spaces in between?

So, I made a decision that would define my day. I turned my back on the main road, hoisted my bag, and stuck out a thumb. I would hitchhike to the future. I would travel to Arcadia not as a shielded journalist on a corporate bus, but as a passenger in the rattling belly of the very community the mine was meant to transform.

My first chariot was a battered white Toyota Hiace, its suspension sighing with the weight of too many lives. The kombi to Goromonzi was a mobile confessional, a tin can of swirling opinions and the thick scent of sweat and hope. I squeezed in between a woman clutching a live chicken and a man whose eyes held the tired wisdom of the land.

“The mine?” I ventured, my voice competing with the engine’s groan. The initial response was a chorus of dismissive grunts — a symphony of “Hazvina betsero” – “It’s of no benefit.”

An elderly man in a frayed jacket fixed me with a stare. “They dig up the white gold, ship it to China, and what do we see? Dust. More dust. And the promises that blow away with it.”

It was the expected refrain — the headline everyone knows by heart. But headlines rarely tell the whole story. I turned to the man in the most powerful seat in Zimbabwe — the kombi driver. His name was Tinashe, his knuckles white on the gearstick.

“And you, brother? Has the dust brought you anything?”

He laughed, a short, sharp bark. “What can the mine do for me? I fight this steering wheel every day.”

But I pressed. “Before the mine, this route… was it like this?”

A flicker of something crossed his face. A crack in the wall of cynicism. He downshifted, the van lurching. “This road,” he said, gesturing to the pothole-riddled track, “was a bone-shaker. A car-breaker. The mine brought their graders. They patched the worst parts. Not for us, for their trucks. But my tyres last longer now.”

He paused, as if admitting a secret. “And the people… before, I would make this trip half-full. A loss. Now?” He gestured with his chin at the packed van. “Now, every trip is full. People going to the mine, people selling to people who work at the mine. Last year, I bought a second kombi. My younger brother drives it. His wife no longer nags him about being a burden.”

The statement landed with the weight of a revelation. Two families fed. Two homes stabilised. Not from a direct job, not from a corporate handout, but from the simple, inexorable mathematics of increased economic activity. The first ripple.

Majuru Growth Point: The Calculus of a Second Restaurant

At Majuru Growth Point, the air was thick with the smell of frying kapenta and the buzz of commerce. I found a group of women vendors, their wares spread on colourful cloths. I was the city man with the notebook, and they were ready with their grievances.

“The Chinese eat their own food from their own kitchen,” one said, her arms crossed. “They don’t buy our tomatoes. What benefit?”

It was the same song, second verse. I zeroed in on a woman, her face etched with the resilience of a life spent hustling. She ran a small, makeshift restaurant, a pot of sadza steaming over a charcoal burner.

“Sister,” I began, “your restaurant here… is business the same as before the mine?”

She shrugged. “It comes and goes.”

“Have you tried to take your business closer to the source of the hunger?”

For the first time, her defensive posture softened. She looked away, towards the distant, unseen mine. A slow smile touched her lips. “I have a second place,” she confessed, her voice dropping. “Near the main gate. For the workers, the security, the drivers. The sadza there… it finishes fast. It is… better.”

“Better” is a relative term. But in the lexicon of survival, “better” can mean school fees paid. It can mean a new roof. It can mean a future that isn’t a daily struggle. She hadn’t received a benefit; she had seized an opportunity created by the mine’s gravitational pull. The mine didn’t give her a business; it gave her a market. The second ripple.

The final leg of the pilgrimage required a different kind of faith. It was a black Toyota Wish, a car designed for seven souls but now a steel womb carrying ten. I was the last to squeeze in, my spine wedged against the door frame, my knees kissing the seat in front. The air was a solid thing, thick with breath and the shared, unspoken acceptance of collective discomfort. This was the true artery to the lithium dream: overburdened, hot, and moving forward out of sheer necessity.

The driver, a young man with intense eyes and a grip on the wheel that promised he knew every inch of the road’s treachery, introduced himself as Blessing. The name felt like a prayer.

He wrestled the overloaded car, its suspension groaning in protest as we plunged into craters that felt like geological events. Each jolt was a communal experience, a sharp intake of ten breaths.

“And this road,” I managed to grunt, my voice vibrating with the car’s shudder, “surely it is your enemy?”

“Today, yes,” Blessing said, his focus never wavering from the battle ahead. “But look. Just there.” He risked a quick point through the dusty windshield. Ahead, a phalanx of graders and workers was a hive of activity, laying the black ribbon of a new, tarred road right alongside our punishing path. “They are building the future. The company. When that is finished, this… this suffering will end. My car will become a car again, not a patient in a mechanic’s ward. The trip will be twenty minutes, not one hour. I will use less fuel. I can lower my price for the people.”

He then offered the final, unassailable truth, his voice cutting through the grumbles of the other passengers. “But let me be clear. Before the mine, this road led to fields and a few scattered homesteads. I would never have come out here. There was no ‘blessing’ on this route. There was no reason. Now, it leads to a place where money changes hands. Where people are. That is why I bought this car.”

His business — this overloaded Toyota Wish groaning with human cargo — was born from the mine’s existence. His entire livelihood was a direct consequence of the lithium buried in the hills. Yet, in the discomfort of the moment, his initial complaint, like all of ours, was about the state of the road. The disconnect was staggering — a testament to how the most profound changes are often felt before they are understood.

When I finally spilt out of Blessing’s Toyota Wish at the gates of Arcadia, my body aching, my clothes dust-powdered, the ministerial circus was in full swing. The suits were pristine, the speeches echoed with words like “value addition” and “economic empowerment.” I looked at the polished presentations and then back down the brutal, soon-to-be-tarred road I had just travelled.

My observations were no longer just observations; they were convictions forged in the heat and press of that overcrowded taxi. The most profound story of Arcadia is not the lithium itself. It is the second kombi. It is the second restaurant. It is the overloaded Toyota Wish that represents a new route, a new livelihood, where none existed before. It is the slow, deliberate tarring of a road that connects an isolated community to the bloodstream of the national economy.

These are the ripples. They are quiet, easily dismissed by the loud drumbeat of legitimate grievances about direct employment and corporate social responsibility. The people living them often don’t even name the source — feeling the current but not seeing the stone that dropped into their pond.

The official bus I missed was a metaphor. It was the fast, comfortable, direct route to the official story. My journey — the one of cramped bodies, shared discomfort, and probing questions in a black Toyota Wish — was the path to the human story. It is a story not of grand benefaction, but of slow, organic, and often unrecognised growth — a growth so real you have to cram ten people into a seven-seater to truly feel its weight.

As other mines follow this infrastructural lead, the lesson is clear: the true, lasting benefit of Zimbabwe’s mineral wealth may not be measured solely in tonnes exported or direct taxes paid, but in the countless, quiet victories of a second kombi, a second restaurant, and a road that no longer leads to nowhere, but to a future, however slowly, being built.

Tharisa Sets Sights on Higher Platinum Output Amid Soaring Prices

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Tharisa has outlined ambitious growth plans for its Platinum Group Metals (PGM) production at a time when platinum prices have climbed to their highest levels in over a decade, Mining Zimbabwe reports.

By Ryan Chigoche

In its fourth-quarter and full-year production update released Tuesday, CEO Phoevos Pouroulis announced that Tharisa is targeting between 145,000 and 165,000 ounces of PGMs in 2026, up from 138,300 ounces produced this year (2024: 145,100 ounces).

The company last achieved similar levels in the 2022 financial year, with platinum accounting for roughly 49.8% of total PGM output.

Production in 2025 was hampered by pit remediation activities, but performance improved toward year-end.

Fourth-quarter PGM output rose 19.7% to 41,300 ounces, compared to 34,500 ounces in the previous quarter — a sign that mining conditions are stabilising.

The recovery coincided with a dramatic rally in platinum prices, which have surged 85% year-to-date. Tharisa reported an 18.6% increase in its average annual PGM basket price, reaching $1,615 per ounce, with a 24.1% rise recorded in the final quarter.

“The PGM market, and platinum in particular, has been one of the standout performers in 2025,” Tharisa said. “Persistent supply deficits, constrained output, and tightening inventories continue to provide strong support.”

Currently, platinum is trading around $1,639.90/oz, its highest level since 2013. Analysts expect further upside.

René Hochreiter of Noah Capital forecast a potential climb to $2,000/oz, citing a 17% supply deficit and sustained demand across the jewellery, industrial, and investment sectors.

While rising PGM prices offer strong support, Tharisa’s chrome division faces headwinds.

The company projects chrome concentrate output of between 1.5 and 1.65 million tonnes in 2026, compared to 1.56Mt this year, but prices dropped 11% to an average of $266 per tonne (2024: $299/t).

Peel Hunt, Tharisa’s nominated adviser, noted that FY2026 chrome guidance is 17% below its forecasts but said “the impact of higher PGM prices should more than compensate for the weaker chrome market.”

Earlier this month, Tharisa announced a $547 million, 10-year capital investment plan to transition its North West Province operations from open-pit to underground mining. Once both targeted reefs are operational, platinum’s share of Tharisa’s total production is expected to rise to 55%.

Tharisa’s stock has gained 47% year-to-date, valuing the company at just over R7 billion.

Government Steps Up Oversight as 2025 Responsible Mining Audit Looms

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Zimbabwe’s government is intensifying oversight of the mining sector as it prepares for the 2025 Responsible Mining Audit, aimed at ensuring mines operate responsibly, sustainably, and in line with regulatory standards, Mining Zimbabwe can report.

By Ryan Chigoche

This was highlighted by Chief Government Mining Engineer (CGME) Michael Munodawafa at the ZITF Mine Entra Main Conference in Harare.

The Responsible Mining Audit (RMA) was launched in May 2023 by the President of the Republic of Zimbabwe to ensure that mining operations comply with legal, environmental, and social standards.

Since its inception, the RMA has revealed mixed levels of compliance. While some miners have aligned with regulations, others continue to violate laws on environmental protection, labour standards, and operational safety.

Munodawafa observed that many miners initially prioritised short-term gains over planning for the future, environmental protection, and community welfare.

“Some miners were so relaxed that they forgot their obligations to the environment, employees, and local communities. Miners, be prepared, as my team and I will be visiting all mines across the country in the coming weeks,” Munodawafa told delegates, signalling a nationwide push for stricter compliance.

“The audits are designed not just to enforce regulations but also to guide miners toward responsible and sustainable practices,” he added.

The audits have already revealed measurable progress.

In 2023, 424 mining and related operations were inspected, with 128 suspended for gross non-compliance, representing 30% of sites visited.

In 2024, inspectors visited 728 mines, suspending 161 operations, or 23%, showing that miners are gradually aligning with regulatory requirements.

Conducted by a team of 12 Mining Technical Auditors (MTAs) alongside representatives from the Department of Immigration, Ministry of Health, Ministry of Mines, and Ministry of Labour, the audit is designed to promote responsible mining practices, protect communities, and safeguard the environment.

The government’s approach combines enforcement with guidance, fostering a culture where miners are encouraged to comply not only for legal reasons but also for the long-term benefit of their operations and surrounding communities.

“We want miners to act responsibly not just because of the law, but because it makes sense for their business and communities,” the CGME emphasised.

As Zimbabwe’s mining sector grows, the 2025 Responsible Mining Audit is poised to serve as a critical benchmark for ensuring that long-term planning, environmental protection, and community development remain central to industry progress.

Gold buying prices in Zimbabwe per gram/ ounce, 16 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 16 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE127.74$3,973.16
SG 85% and above but below 90%126.39$3,931.17
SG 80% and above but below 85%125.04$3,889.18
SG 75% and above but below 80%123.69$3,847.19
Sample 5g and above but below 10g121.66$3,784.05
Fire Assay CASH128.42$3,994.38

 

NB: Fire Assay cash price is for gold above 100g, no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

Adopting Robust ESG Framework No Longer Optional for Mining Firms – Kuvimba CEO

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Adopting a robust Environmental, Social and Governance (ESG) framework is no longer optional but a fundamental requirement for mining companies seeking to remain competitive and access international capital markets, Kuvimba Mining House Group Chief Executive Officer Travor Barnard said.

By Rudairo Mapuranga

Speaking at the mining conference during the prestigious Mine Entra exhibition in Bulawayo, Barnard emphasised that companies now need comprehensive ESG policies not just for regulatory compliance but as a strategic imperative for long-term viability. He stated unequivocally that the global financial landscape has fundamentally shifted, making ESG integration non-negotiable for any mining operation seeking growth capital.

“There’s no way that a company nowadays can access capital without having a proper sustainability and ESG framework in place,” Barnard told industry delegates. “It just doesn’t happen anymore. This is about much more than just compliance — it’s a gateway to accessing capital, managing risk effectively, and gaining a competitive advantage in an increasingly discerning global market.”

The KMH CEO’s comments come at a critical juncture for Zimbabwe’s mining sector, which is seeking to attract substantial foreign investment while navigating growing international pressure to adopt sustainable mining practices. Barnard, who leads one of Zimbabwe’s largest mining conglomerates, positioned ESG not as a bureaucratic burden but as a core business strategy that directly impacts a company’s bottom line and social license to operate.

Barnard detailed how ESG encompasses three critical pillars for modern mining operations: environmental stewardship through responsible resource management and emissions control; social responsibility through community engagement and fair labour practices; and governance through transparent reporting and ethical business conduct. He explained that these elements collectively form what investors now consider essential minimum standards for any credible mining operation.

The CEO outlined practical frameworks that mining companies can adopt, including the Global Reporting Initiative for comprehensive sustainability reporting, the United Nations Sustainable Development Goals for aligning with global priorities, the Carbon Disclosure Project for climate impact management, and the Science-Based Targets initiative for measurable emissions reduction goals. He emphasised that these frameworks provide the structured approach needed to transform ESG principles from abstract concepts into actionable business strategies.

“If you don’t include sustainability and ESG principles in your strategic intent, you’re not going to win,” Barnard asserted, highlighting that companies that treat ESG as an afterthought rather than a foundational business element risk obsolescence in an increasingly sustainability-focused global mining industry.

Under Barnard’s leadership, Kuvimba has embedded sustainability into its corporate vision “to create a better and sustainable future for Zimbabweans,” with the understanding that long-term profitability is inextricably linked to responsible environmental management, positive community relations, and transparent governance structures.

The shift toward ESG-compliant mining represents both a challenge and an opportunity for Zimbabwe’s mining sector, which contributes significantly to the national economy. As international financiers and development institutions increasingly tie funding to demonstrable ESG performance, Barnard’s message serves as both a warning and a roadmap for mining companies seeking to thrive in the new era of responsible resource extraction.

His address at Mine Entra signals a broader transformation within Zimbabwe’s mining industry, where ESG considerations are rapidly moving from peripheral concerns to central business priorities that directly influence investment decisions, operational practices, and ultimately, a company’s ability to compete in global markets.

Local Content Rating System Touted as Key to Upholding Responsible Sourcing in Mining Sector

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In the thrust of responsible sourcing, Buy Zimbabwe, a local organisation promoting domestic production, is advancing the introduction of a Local Content Rating System aimed at ensuring that more of the revenue generated by the mining industry is retained within the country, Mining Zimbabwe can report.

By Ryan Chigoche

This was revealed by Buy Zimbabwe General Manager, Alois Burutsa, at the 28th edition of the ZITF Mining, Engineering and Transport Expo held recently in Bulawayo.

The push for a Local Content Rating System, first proposed in 2023, comes amid worrying statistics showing that out of the US$6 billion in revenue generated by the mining sector last year, US$2.7 billion was spent by mining companies on suppliers.

However, only about US$540 million of that amount was directed to local suppliers — roughly 20 per cent.

What is more concerning is that even within that US$540 million, a significant portion actually goes towards imports from South Africa and other countries, as many local suppliers rely heavily on foreign-manufactured products.

This means that Zimbabwean manufacturers are not benefiting as much as intended from mining procurement, undermining the goal of strengthening domestic value chains.

In light of this, Burutsa proposed the imminent introduction of the Local Content Rating System as part of the solution, alongside stronger policy interventions and increased collaboration between government and the private sector.

“I’m going to put a few proposals that will help us solve some of those problems. Local content rating. You see, I mentioned earlier that there’s US$540 million that went to local suppliers. But if you dig deeper, you may actually find that most of that US$540 million actually went outside again, because local suppliers go to the mines and say, ‘I’m a local supplier, and I’ll get the product.’ But guess what? Those products will come from across the border — South Africa to China — and they import those products. Therefore, we are not actually supporting our local manufacturers. So there’s a need for local content rating,” Burutsa said.

To operationalise the system, Buy Zimbabwe, which is the designated Local Content Rating agent in the country, plans to establish a Local Content Rating Portal to list certified products and guide local procurement across industries.

“Soon we plan to have a local content rating portal to list our products, and we’d like to work with the mining sector to say, whenever you’re doing your purchases, if you’re going to give an order to a local manufacturer, ask them if they have a local content rating certificate, so that you are sure that this product is indeed made in Zimbabwe.”

In the meantime, several major mining companies such as Zimplats, Mimosa, and Blanket Mine have taken steps to empower local suppliers through Local Enterprise Development programmes.

However, there are growing calls for more miners to adopt similar initiatives to ensure that a greater share of Zimbabwe’s mining revenue remains within the national economy. Policy support has also been identified as a key factor in making such initiatives sustainable.

Burutsa further emphasised the importance of responsible sourcing within the mining sector, explaining that the concept seeks to ensure that economic value from mining activities circulates within the local economy before flowing out of the country. He likened this to a “spiderweb” model, where the benefits of mining spread across domestic industries and communities.

However, it is important to acknowledge that the mining industry operates under global price constraints, meaning miners are essentially price takers who sell their commodities at prices determined by international markets.

This reality, Burutsa noted, makes it difficult for companies to prioritise local suppliers purely out of obligation, as he stressed that local procurement must be driven by competitiveness, with local manufacturers producing goods that are cost-effective, high quality, and efficient enough to meet the sector’s needs.

The proposed Local Content Rating System is seen as a practical step toward bridging the gap between miners and local manufacturers, creating a transparent framework that promotes responsible sourcing while enhancing domestic industrial capacity.

Mimosa Secures US$15 Million to Boost Local Suppliers

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Zvishavane-based platinum producer Mimosa Mining Company has partnered with local banks to raise about US$15 million to support its Local Enterprise Development (LED) programme, in a bid to strengthen local supply chains and promote domestic manufacturing, Mining Zimbabwe can report.

By Ryan Chigoche

The initiative is part of the company’s long-term strategy to empower local suppliers who provide consumables such as personal protective equipment (PPE), machinery components, and chemicals to the mining industry.

The fund will enable small and medium-scale enterprises to access financing and improve their production capacity to meet industry standards.

Speaking during the recent Mine Entra Conference, Mimosa’s Head of Finance and Administration, Mr Edmore Tafirenyika, said the mining sector was making progress in promoting local participation and supplier growth.

“There have been a few strides that we have made in the mining sector in trying to promote local competency. And most importantly, issues around Local Enterprise Development (LED) have been key,” he said.

Through partnerships with CBZ Bank and two other local banks, Mimosa has created a revolving fund that will finance supplier development.

Each financial institution contributed about US$5 million, bringing the total facility to US$15 million. The fund will not only support LED programmes but also provide direct assistance to local suppliers.

Several companies have already benefited from the initiative, with Mimosa purchasing products made in Zimbabwe as part of its backward integration strategy.

The miner is also finalising a new LED project involving community tailors in Zvishavane who will produce PPE locally — items that were previously imported.

In addition to bank partnerships, Mimosa has committed a further US$5 million from its own resources to support LED projects over the next five years.

The company believes such programmes will help develop competitive local manufacturers and gradually reduce reliance on imported consumables.

Mr. Tafirenyika emphasised the need to focus more on domestic production to enhance competitiveness and sustainability within the mining value chain.

“It will be very desirable that we turn as much as we possibly can towards local manufacturing, towards locally producing our own critical mining consumables. That way, it not only puts us on the map but also goes a long way in reducing the overall cost of our mining operations,” he said.

The LED initiative underscores Mimosa’s commitment to inclusive economic growth, community empowerment, and industrial development, aligning with national goals to increase local content and build resilient mining-linked industries.

Mining Zimbabwe Releases Edition 82 at Mine Entra 2025

Mining Zimbabwe has officially launched Edition 82 of its flagship Magazine at Mine Entra 2025, Zimbabwe’s premier mining exhibition held at the Zimbabwe International Exhibition Centre in Bulawayo.

The latest edition, unveiled at Stand 4C04, has already generated significant interest among mining professionals, suppliers, and policymakers attending the three-day event. Visitors to the Mining Zimbabwe stand received free copies of the publication, which continues to serve as the nation’s leading source of credible mining news, insights, and industry analysis.

Edition 82 features in-depth coverage of Zimbabwe’s evolving mining landscape, including updates on major projects, policy developments, and innovations driving the sector beyond extraction. Key highlights include exclusive interviews with industry leaders, reports on mineral production trends, ESG progress, and coverage of the Association of Mine Managers of Zimbabwe’s latest initiatives.

Speaking at the launch, Timelison Media’s Managing Director, Mr Keith Sungiso, said the release of Edition 82 marks another milestone in the publication’s commitment to providing authoritative and engaging content for the mining industry.

“Mine Entra provides the perfect platform to connect with the heartbeat of Zimbabwe’s mining sector,” Sungiso said. “Through this edition, we aim to celebrate the achievements of our miners, promote responsible investment, and showcase the innovations shaping the future of mining.”

The magazine also spotlights local suppliers, technology providers, and service companies playing a vital role in the mining value chain, reinforcing Mining Zimbabwe’s mission as the media partner of choice for the industry.

Attendees at Mine Entra 2025 described the new edition as both informative and visually engaging, reflecting the publication’s ongoing evolution in design, depth, and digital reach.

Edition 82 is now available in print and online through the Mining Zimbabwe website and digital distribution platforms, ensuring broader access for readers across Zimbabwe and beyond.

Minister Ncube Commissions US$300,000 Gold Milling Centre in Shurugwi, Hails Zimbabwe-China Partnership

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The Minister of State for Midlands Provincial Affairs and Devolution, Hon Owen Ncube, has commissioned and handed over a US$300,000 gold milling and processing centre to artisanal and small-scale miners in Shurugwi District, marking a significant step in the government’s drive to formalise the informal mining sector, Mining Zimbabwe can report.

By Rudairo Mapuranga

The facility, funded by Cheng-Xi Chengetai Investments, a company recognised for promoting responsible mining practices in the Midlands Province, is equipped with three round mills, a jaw crusher, three hammer mills, water reservoirs, an administration office block, and other support infrastructure.

Speaking at the event, Minister Ncube commended the Zimbabwe-China bilateral mining agreements, describing them as a catalyst for economic empowerment and responsible development.

“Let me applaud the Chinese for honouring and adhering to the investment provisions and requisites as provided within the Zimbabwe-China bilateral mining agreements,” Ncube said. “This will help in transforming our communities’ livelihoods and also complement the government’s empowerment initiatives.”

The Minister highlighted the centre’s direct impact, noting it will provide accessible and affordable milling services to over 5,000 beneficiaries, boost the local economy, and create jobs. He reiterated the government’s commitment to formalising the informal mining sector and empowering youth to participate meaningfully in national development.

“The commissioning of this centre marks a significant milestone in our efforts to promote local economic empowerment and responsible mining practices,” Ncube said.

To illustrate the critical role of small-scale miners, the Minister noted that in the first nine months of 2025, this sector delivered 24.5 tonnes of gold to Fidelity Gold Refinery, out of a national total of 33 tonnes.

He also urged other corporates to emulate Cheng-Xi’s Corporate Social Investment Programmes and issued a warning to drug peddlers, including celebrities and high-profile individuals, that the law will catch up with them. The commissioning is seen as a key pillar in achieving the nation’s Vision 2030 objectives.

This project highlights a growing trend of partnerships between government and private industry to develop mining infrastructure. The table below summarises the core details of the newly commissioned facility:

Caledonia Maintains Dividend, Advances Bilboes and Motapa Projects to Drive Long-Term Value

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Caledonia Mining Corporation is prioritising the funding of its major growth projects over immediate dividend hikes, despite the recent surge in gold prices, assuring shareholders that this patient approach will lead to significantly larger payouts in the future, Mining Zimbabwe can report.

By Rudairo Mapuranga

This strategy was confirmed by Caledonia Executive Director Victor Gapare during a media briefing in Harare on Tuesday. The company recently declared its quarterly dividend of US$0.14 per share for Q2 2025, maintaining a consistent payout level that has been in place since October 2021.

Gapare directly addressed the question on investors’ minds: why hasn’t the record-high gold price translated into a fatter dividend cheque?

“You’re absolutely correct. It’s a gold price,” Gapare acknowledged. “If you’d spoken to us a couple of months – less than a couple of months ago, we were in a very different situation.”

He explained that the recent influx of free cash flow is a “very recent occurrence,” and the company’s immediate priority is financing the construction of its large-scale Bilboes project, which requires an investment of “quite a few hundred million dollars.”

The capital for this transformative project, Gapare stated, will come from a combination of free cash flow and carefully considered financing that avoids diluting the value for existing shareholders.

“We want to continue paying – we can’t be too aggressive in terms of increasing that,” he said, outlining the company’s core financial formula. “That graph… is all about dividends, the reinvestment of all those dividends… but also not diluting. So that’s our formula, and if we’re going to create value for our shareholders, we want to try and do both of those.”

Gapare offered a clear vision of the reward for this patience, tying it directly to the completion of the Bilboes mine.

“The important message is, once Bilboes is built, we’re going to be significant – I think you’ll see a big improvement in terms of dividend distributions,” he assured. He noted that the company’s shareholders, including pension funds, value consistency but “obviously, they would want it bigger.”

Caledonia’s dividend history underscores its reputation as a reliable income stock. The current US$0.14 per share rate was established in October 2021, representing a 104 per cent increase from just two years prior. The company has paid a dividend every quarter since 2014, building a track record that began with its inaugural payout in 2012.

The message to shareholders is one of disciplined growth: forgo a short-term gain for a more substantial, long-term return. The steady US$0.14 dividend is not a ceiling but a foundation, with the promise of a “big improvement” once Bilboes is built and begins generating significant cash flow.