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Fidelity Leads National Push for Responsible ASM Gold Trade with Mobile Units, Traceability, and Community Empowerment

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Fidelity Leads National Push for Responsible ASM Gold Trade with Mobile Units, Traceability, and Community Empowerment

Fidelity Gold Refinery (FGR), Zimbabwe’s sole authorised gold buyer and exporter, is reshaping the country’s approach to artisanal and small-scale mining (ASM) through a multi-faceted strategy centred on responsible sourcing, formalisation, community empowerment, and logistical innovation, Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking at the PlanetGold Zimbabwe ASGM Strategy Dialogue in Harare on Wednesday, FGR ASM Manager Francis Maidza outlined how the organisation is redefining gold procurement by expanding buying infrastructure, improving traceability, and building stronger, more sustainable relationships with small-scale miners.

Maidza underscored that the ASM sector remains the backbone of Zimbabwe’s gold output, contributing nearly 60% of national deliveries. Recognising the sector’s importance, Fidelity is working to close the formalisation gap by introducing tributary agreements with local communities. Through these agreements, miners are given legal rights to operate, and Fidelity supports them with mining and drilling services, processing facilities, and on-site gold purchasing. This initiative ensures communities are not only legally compliant but also integrated into the broader mining economy.

“We want to empower local communities by giving them tools to mine safely and legally,” said Maidza. “Through these tributary agreements, we are doing more than just buying gold — we are supporting livelihoods and building structured mining ecosystems.”

Key to Fidelity’s responsible sourcing strategy is the implementation of a gold traceability system, designed to follow gold from mine to market.

“Globally, traceability is becoming critical to ensure gold is not sourced from conflicted or illicit areas,” Maidza said. “We are developing a robust framework that will meet international benchmarks, especially the OECD guidelines. This is vital for our accreditation with platforms like the Dubai Commodity Exchange.”

According to Maidza, Fidelity is about 60% toward meeting its 2025 traceability goals. Once fully implemented, the system will enhance Zimbabwe’s ability to trade clean, conflict-free gold on international markets, boosting trust and prices while curbing smuggling and illicit trade.

Maidza also announced the rollout of mobile gold-buying units across Zimbabwe, a groundbreaking initiative aimed at reducing the distance miners must travel to sell their gold.

“We now have two mobile units operating, and more are on the way. These units will bring our services directly to remote mining areas, improving convenience, transparency, and compliance,” he said.

In addition to the mobile units, Fidelity operates about 17 fixed gold-buying centres and has licensed more than 80 buying agents. This network is being rapidly expanded to meet rising demand and ensure miners have accessible, formal channels through which to sell their product.

“If there is gold, we want to be there,” Maidza stressed.

In a strong show of support for women in mining, Maidza highlighted Fidelity’s commitment to gender-inclusive development. The organisation has introduced a gold development-initiated fund, which provides loans for equipment purchases and start-up capital for women miners.

“We are there to support the girl child,” he declared, noting that start-up kits with basic mining tools are being provided to help women establish their operations.

FGR is also advocating for government collaboration to enhance the policy environment for ASM growth. Maidza urged stakeholders to take advantage of the recently gazetted statutory instrument scrapping VAT on gold sales to Fidelity.

“This policy change is an opportunity to improve liquidity and encourage more miners to sell through formal channels. It’s a win-win,” he said.

Despite ongoing challenges, such as power supply disruptions, water-related delivery fluctuations, and the need for a clear legal framework to manage violations, Fidelity remains committed to engaging regulators, miners, and civil society in a shared mission. This includes close cooperation with bodies such as the Minerals Marketing Corporation of Zimbabwe (MMCZ) and the Zimbabwe Electricity Transmission and Distribution Company (ZETDC).

“We can’t tackle these issues alone. Formalising the sector and ensuring responsible sourcing require collaboration at every level,” Maidza said.

As Zimbabwe aims to maximise its gold potential while safeguarding its communities and environment, Fidelity’s initiatives stand out as a model for ethical, inclusive, and forward-looking mineral governance. Through its investments in infrastructure, policy advocacy, traceability systems, and community empowerment, FGR is proving that the future of gold in Zimbabwe must be both profitable and principled.

Struggling RioZim Nears US$20 Million Capital Injection as Ownership Shift Looms

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Struggling RioZim Nears US$20 Million Capital Injection as Ownership Shift Looms

Struggling mining giant RioZim Limited is edging closer to a major financial lifeline, with a US$20 million capital injection and a change in majority ownership now at an advanced stage of negotiation.

By Ryan Chigoche

The development offers a potential turning point for the embattled miner, which has been grappling with a steep decline in gold production and deepening financial distress.

The company confirmed these developments in a statement revealing that discussions with a yet-to-be-named investor are at an advanced stage.

“The directors of RioZim Limited wish to advise its shareholders and the investing public that, further to the cautionary announcement dated March 4, 2025, the major shareholders are now at an advanced stage in negotiating with the potential investor, who will inject an initial amount of US$20,000,000 into the working capital of the company through an appropriate financial instrument while completing a purchase of the majority shares of the company,” the company said.

This announcement comes at a time of mounting pressure on the company from all sides.

Once a leading player in Zimbabwe’s gold sector, RioZim has experienced a dramatic fall from grace, with its gold output plunging by 54% in 2024.

The company produced just 428 kilograms of gold last year — less than half of the 940 kg recorded in 2023 — despite favourable global gold prices that helped competitors expand operations.

The production collapse has intensified RioZim’s financial challenges. Shrinking revenue, rising losses, and stalled operations have pushed the company to the edge, forcing it to suspend work at several key sites.

Even a multi-million-dollar investment in new processing technology at Cam & Motor Mine failed to reverse the downturn.

Meanwhile, aging infrastructure and equipment breakdowns have crippled operations at Renco and Empress Refinery.

The crisis has not gone unnoticed. Labour unions, citing months of unpaid wages and deteriorating conditions, have called for the company to be placed under corporate rescue.

Internally, the company has struggled to find strategic direction, particularly following the 2023 death of Harpal Randhawa, the billionaire investor behind RioZim’s majority shareholder, GEM RioZim.

His passing triggered leadership uncertainty at a time when capital-raising efforts were already facing internal resistance and governance disputes.

Now, with liquidity nearly exhausted and market confidence faltering, RioZim appears to be betting on external capital to avoid collapse.

While the company has not named the investor, sources close to the deal suggest Chinese investment groups are among those involved.

The agreement remains subject to due diligence, regulatory approvals, and finalisation of sale and purchase agreements.

Once concluded, the new investor will also be required to extend a mandatory offer to minority shareholders.

If successful, the transaction could help RioZim stabilise its operations, settle outstanding obligations, and regain a foothold in Zimbabwe’s mining sector. But after years of decline, the stakes are high, and the clock is ticking.

Gold buying prices per gram in Zimbabwe, 5 June 2025

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Gold buying prices per gram in Zimbabwe, 5 June 2025

Gold buying prices per gram in Zimbabwe today, 5 June 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$102.22/g.
SG ABOVE 89% BUT BELOW 90% US$101.14/g.
SG ABOVE 80% BUT BELOW 85% US$100.06/g.
SG ABOVE 75% BUT BELOW 80% US$98.97/g.
SAMPLE BELOW 10g BUT ABOVE 5g US$97.35/g.

Fire Assay CASH $102.76/g.

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.
A 2% royalty is charged on all deposits (Small-scale miners).
A 5% royalty is set for Primary Producers.

We Don’t Hate You, We Just Need You to Formalise to Access Funding – Govt Tells ASM

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We Don’t Hate You, We Just Need You to Formalise to Access Funding – Govt Tells ASM

The Ministry of Mines and Mining Development has urged artisanal and small-scale miners (ASM) to formalise their operations to gain access to government support, including technical assistance and funding.

By Ryan Chigoche

This call was made by Chief Government Mining Engineer (CGME) Michael Munodawafa during the Artisanal and Small-Scale Gold Mining (ASGM) Draft Strategy Dialogue held recently in the capital.

He emphasised that formalisation is the key that unlocks opportunities for miners under various government schemes.

One of the primary pillars of Zimbabwe’s ASGM strategy is “Mobilising Finance for ASGM.”

To ease access to capital, the strategy proposes innovative financial models tailored to the sector.

These include using mining certificates as collateral, setting up mining-focused financial institutions, and exploring barter systems where minerals are exchanged for equipment.

In 2024, the Treasury allocated US$10 million to the already established Mining Industry Loan Fund to support small-scale miners in boosting gold production.

However, many miners are unable to access these facilities due to their informal status.

Speaking at a Planet Gold Zimbabwe ASGM Strategy Dialogue workshop held in Harare, Eng. Munodawafa reiterated the importance of registration and formalisation.

“As a ministry, at the moment we are providing some technical assistance and a bit of financial assistance, in the form of loans which are given to small-scale miners (through a fund that is called the Mining Industry Loan Fund, which is administered through the Department of Equipment and Mining).”

“We have got the equipment that we have developed for small-scale miners. But to do that, we encourage small-scale miners to formalise. That is the key. If you are not a formalised miner, we can’t help you. We are also trying to encourage all our miners to be registered. It’s like when you move in the street and you give someone a loan—you don’t know where they reside or where they’re coming from. That loan is gone. It has just gone down the drain,” he said.

Zimbabwe’s ASGM sector plays a critical role in the national economy, with more than a million people depending on it for their livelihoods. In 2024, the sector accounted for 65% of the country’s total gold production, contributing 36 tons to the national output.

Such a massive contribution highlights the importance of properly supporting and regulating the sector.

Yet, despite its value, the ASGM sector continues to face numerous challenges. These include informality, lack of geological data, unsafe mining practices leading to fatal accidents, limited access to financing and modern equipment, inefficient recovery methods, gender disparities, violence, lack of coordination among miners’ associations, and the use of hazardous chemicals like mercury.

The Africa Mining Vision describes the ASM sector as complex, and Zimbabwe’s experience affirms this. However, complexity should not be a barrier to progress.

The ASGM Strategy aims to transform the sector into a sustainable, formalised industry that not only improves safety and environmental standards but also promotes inclusivity—particularly for women and other special interest groups in mining.

Gold buying prices per gram in Zimbabwe, 4 June 2025

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Gold buying prices per gram in Zimbabwe, 4 June 2025

Gold buying prices per gram in Zimbabwe today, 4 June 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

SG 90% and ABOVE US$101.31/g.
SG ABOVE 89% BUT BELOW 90% US$100.24/g.
SG ABOVE 80% BUT BELOW 85% US$99.17/g.
SG ABOVE 75% BUT BELOW 80% US$98.10/g.
SAMPLE BELOW 10g BUT ABOVE 5g US$96.49/g.

Fire Assay CASH $101.85/g.

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.
A 2% royalty is charged on all deposits (Small-scale miners).
A 5% royalty is set for Primary Producers.

Delays in Mining Cadastre Undermine Zimbabwe’s Push for Responsible Mining, Experts Warn

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Delays in Mining Cadastre Undermine Zimbabwe’s Push for Responsible Mining, Experts Warn

Zimbabwe’s slow progress in implementing its long-awaited mining cadastre system is undermining national efforts to modernise the sector, curb corruption, and align with global responsible mining standards, a leading mineral economist has warned.

By Ryan Chigoche

Zimbabwe is widely recognised for its abundant deposits of critical minerals such as lithium, gold, platinum group metals, chrome, and rare earth elements. These resources place the country in a strategic position to benefit from the surging global demand driven by the transition to green energy technologies, electric vehicles, and advanced electronics. As countries around the world intensify efforts to secure sustainable and ethically sourced mineral supplies, Zimbabwe has a unique opportunity to become a major player in the global critical minerals market.

However, to fully capitalise on these resources, Zimbabwe must overcome longstanding challenges related to governance, title security, and sector transparency. The mining industry’s growth and the government’s ambitions for beneficiation and value addition hinge on clear, reliable, and accessible information about mining claims and licenses. Without this, investors face significant risks of overlapping claims, protracted disputes, and regulatory uncertainty—factors that have historically hampered investment and stalled projects.

Mineral Economist Layman Mlambo says improving title management is essential to reforming the sector, which remains mired in disputes, overlaps, and governance weaknesses.

“Effective mining title management is key in this, because it ensures security of titles, which has been a problem due to overlapping or coincident mining sites, resulting in many court cases and loss of money and time,” Mlambo said. “A computerised cadastre initiative, or even a better technology product, needs to be implemented to ensure these information gaps and inconsistencies are eliminated. That effectively eliminates corruption and rent-seeking behaviours.”

Although Zimbabwe has not yet rolled out its mining cadastre system, it has been repeatedly identified by policymakers and industry stakeholders as a critical tool for reform. Designed as an e-Government platform, the system is expected to modernise the management of mining titles by improving transparency, reducing disputes, and streamlining stakeholder engagement.

However, delays have raised red flags. Initially scheduled for a 2024 launch, the system has been postponed to early 2025, with Manicaland Province earmarked as the pilot region. Authorities cite incomplete data verification and limited ICT infrastructure as causes for the delay, despite a US$5.5 million government investment in the system back in 2022.

Once operational, the cadastre will provide accurate, real-time information on mining claims and licenses. Its dual functionality—supporting both manual and electronic entries—is expected to curb corruption, limit discretionary decision-making, and support evidence-based oversight of the sector.

Crucially, the system is seen as the foundation for aligning Zimbabwe with international responsible mining standards such as the Initiative for Responsible Mining Assurance (IRMA) and the OECD Due Diligence Guidelines. IRMA, in particular, promotes stakeholder engagement, traceability, and sustainability across the entire mining lifecycle.

“We talk a lot about international standards, but very little has been done to actually implement or domesticate them,” Mlambo noted.
“This is a missed opportunity for Zimbabwe to position itself as a supplier of ethically sourced minerals in global value chains.”

As demand for critical minerals like lithium and rare earth elements accelerates globally, Zimbabwe has an opportunity to attract responsible investment and extract greater long-term value through beneficiation and sustainable practices. But without a functioning cadastre, these ambitions risk remaining theoretical.

Beyond regulatory compliance, the cadastre system is also vital to tracking environmental safeguards, ensuring community participation, and facilitating the monitoring of ESG metrics. Without it, governance remains fragmented and opaque—conditions that deter serious investors.

Mlambo and other analysts argue that modernizing mining governance is not just a bureaucratic exercise, but a strategic imperative for Zimbabwe to capitalize on the green energy transition.

“As global demand for responsibly sourced minerals continues to rise, Zimbabwe’s ability to reform its governance structures and embrace transparency could prove decisive in its quest for sustainable economic transformation,” Mlambo said.

For Zimbabwe to deliver on its aspirations for beneficiation, value addition, and inclusive growth, experts agree that prioritising the cadastre rollout must move from policy talk to implementation.

Caledonia Raises More Capital on VFEX Than NYSE

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Caledonia Raises More Capital on VFEX Than NYSE

In a striking development that speaks volumes about Zimbabwe’s evolving financial landscape, Caledonia Mining Corporation Plc has revealed that it has raised more equity capital on the Victoria Falls Stock Exchange (VFEX) than on the prestigious New York Stock Exchange (NYSE), Mining Zimbabwe can report.

By Rudairo Mapuranga

The admission, made by Caledonia CEO Mark Learmonth, comes at a time when Zimbabwe’s mining sector is seeing renewed momentum in local capital markets, led by an increasing appetite for resource-backed investments on the VFEX.

Learmonth’s statement highlights a significant shift in capital-raising dynamics for mining companies operating in Zimbabwe.

“In fact, we’ve raised more equity on the VFEX than on the NYSE,” said the CEO. “Zimbabwe’s gold industry has been starved of capital for many decades… many of Zimbabwe’s gold mines are struggling to survive due to a lack of historic investment.”

For decades, Zimbabwe’s gold sector has grappled with underinvestment, policy volatility, and a lack of modernisation. Despite boasting some of the richest untapped gold deposits on the continent, the sector has largely relied on aged infrastructure and limited access to international financing. However, with the establishment and operationalisation of the VFEX—a United States dollar-denominated exchange located in the resort city of Victoria Falls—a new wave of financing has become available, presenting a more accessible, localised option for mining companies.

Caledonia’s listing on the VFEX in late 2021 was met with considerable interest. It was among the first mining companies to make the bold move, shifting its secondary listing from the AIM in London to the VFEX, in a bid to tap into local investors and raise US dollar-denominated capital within Zimbabwe. The results, according to Learmonth, have been more than satisfactory.

“International gold investors recognise that Zimbabwe has massive potential for world-class gold projects,” Learmonth said. “But many of those same investors are hesitant to commit funds unless they are confident of receiving dollar-denominated returns. That’s what makes the VFEX so important—it provides that structure.”

Caledonia’s success on the VFEX sends a strong message: Zimbabwe, once considered too risky for serious capital injection in the mining sector, is rebranding itself as a viable and increasingly attractive jurisdiction, provided the right incentives and market mechanisms are in place. The VFEX, backed by the Reserve Bank of Zimbabwe and designed to attract foreign capital, offers several key advantages: capital gains tax exemptions, the ability to repatriate profits, and trading in hard currency.

In his comments, Learmonth noted that other African jurisdictions, once considered the go-to destinations for mining investment, are now being viewed more cautiously due to rising geopolitical risks and regulatory unpredictability.

“It is also helpful,” he said, “that many other African jurisdictions that were previously favoured by investors are now regarded as being unattractive. Zimbabwe could turn this situation to its advantage with a few policy initiatives—the most important of which is the liberalisation of the foreign exchange market.”

This call for FX reform echoes sentiments shared by many mining executives and investors. Zimbabwe has made strides in easing capital controls, but concerns over forex retention thresholds and the interbank market’s lack of depth remain. Learmonth’s remarks make it clear: Zimbabwe’s gold assets are world-class, but the country must compete globally for investment dollars, and doing so requires clarity, predictability, and reform.

“If Zimbabwe can provide the right policy environment, it has every opportunity to emerge as a preferred mining jurisdiction,” he said, noting that international capital will flow to where risk is well-managed and returns are clear.

Karo Platinum: Another VFEX Success Story

Caledonia is not the only company making waves on the VFEX. Karo Platinum, a subsidiary of Tharisa Plc, is also using the platform to raise capital for its flagship platinum group metals (PGM) project in Mhondoro-Ngezi. In 2022, Karo successfully raised US$36.8 million through its first bond listing on the VFEX—a milestone that proved local capital could be mobilised effectively for large-scale mining development.

Now, as the company prepares for its second bond issuance, confidence in the VFEX as a resource-capitalisation platform continues to grow.

Speaking at a site visit attended by several financial institutions and potential investors, Karo Country Director Dr. Joe Zimba confirmed that preparations for a follow-up bond are in full swing.

“We’re scheduling one-on-one meetings with interested parties starting next week,” Dr. Zimba said. “That’s when we’ll bring in our finance director to walk through the bond structure—tenure, coupon, and other technical details.”

According to Karo, the new bond will feature structural amendments, including a revised coupon rate and extended tenure. An Extraordinary General Meeting (EGM) of current bondholders is being scheduled to approve the changes. Importantly, the bond is not linked to mine production timelines—rather, it is backed by corporate guarantees, making it more attractive to cautious investors.

Dr. Zimba also reiterated Karo’s commitment to transparency, sustainability, and delivery. With over US$160 million already invested in infrastructure, including power lines and bulk earthworks, the project is edging closer to production, even as global PGM prices experience short-term volatility.

“What we are building here is not just a mine,” said Zimba. “It is an industrial operation that will transform Zimbabwe’s platinum industry and contribute significantly to the national economy.”

Domestic Capital Markets Step Up

The experiences of Caledonia and Karo highlight a key theme: Zimbabwean capital markets, when empowered and supported by policy, can mobilise significant resources for mining development. This narrative stands in stark contrast to the long-held belief that only international markets—such as London, Toronto, or New York—can provide adequate capital for African mining ventures.

In fact, Caledonia’s experience shows that the VFEX has not only been competitive but in some respects, more fruitful than its global counterparts.

“We’ve raised more on VFEX than on the NYSE,” Learmonth noted, a statement that would have seemed implausible just a few years ago.

It’s a powerful endorsement of Zimbabwe’s attempts to localise its mining value chain—not only in terms of production and beneficiation but also in terms of financing. With rising calls for beneficiation, formalisation, and sustainability in the sector, having a strong domestic financial architecture is no longer optional—it’s a necessity.

Yet, Learmonth cautioned that capital will remain elusive if Zimbabwe fails to implement key reforms.

“Mining companies have choices,” he said. “Zimbabwe must compete globally for discretionary investment.” In a world where capital is increasingly selective, the message is clear: stability, transparency, and investor protection must be at the centre of Zimbabwe’s mining policy.

The Road Ahead

If Caledonia’s and Karo’s stories are anything to go by, then the VFEX is not merely a novelty—it is fast becoming the preferred vehicle for mining finance in Zimbabwe. The listing of bonds, equities, and new instruments on the VFEX has opened new pathways for Zimbabwean and regional capital to back resource development at home.

Still, the challenges are real. Zimbabwe must tackle forex retention issues, provide stable fiscal frameworks, and improve the ease of doing business. But the successes of VFEX-listed miners have proven that with commitment and collaboration between the public and private sectors, Zimbabwe can begin to reverse decades of underinvestment.

For Caledonia, the journey continues. With its Blanket Mine operations now contributing meaningfully to national gold output, and exploration and expansion underway, the company remains a pillar of Zimbabwe’s gold resurgence. And for the VFEX, it is validation—a homegrown financial platform can indeed compete with the world’s best, if given the tools to do so.

As Learmonth concluded, “With the right reforms, Zimbabwe has every opportunity to emerge as a preferred mining jurisdiction—particularly as investors grow wary of instability elsewhere on the continent.”

Does Anglo American’s Exit from Amplats Signal Deeper Trouble for PGMs?

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Does Anglo American’s Exit from Amplats Signal Deeper Trouble for PGMs?

Anglo American’s recent decision to relinquish control of Anglo American Platinum (Amplats), now rebranded as Valterra Platinum, has sent ripples across the global mining sector.

By Rudairo Mapuranga

For Zimbabwe—a nation with significant platinum group metals (PGMs) investments—this development raises questions about the long-term prospects of the sector, particularly in light of falling PGM prices, global economic shifts, and an increasingly complex geopolitical landscape.

Valterra Platinum, the newly independent entity, now takes charge of strategic assets across South Africa and Zimbabwe, including Unki Mine. While this spin-off is part of Anglo American’s broader restructuring to focus on copper and iron ore amid a failed $49 billion takeover bid from BHP Group, it cannot be divorced from the weakening fundamentals of the PGM market.

Prices for rhodium and palladium, key metals in the PGM suite, have plunged 56% and 43% respectively since 2023. As investors digest Anglo’s strategic retreat, many are left wondering whether this signals a broader decline in the value and potential of PGMs.

Zimbabwe, home to major PGM assets like Zimplats, Mimosa, and Unki, finds itself in a precarious position. The country has been banking on PGMs to contribute significantly to its US$12 billion mining economy roadmap. But as the price and demand for PGMs soften, the sustainability of these ambitions is under scrutiny.

Add to this the burden of a 77% effective tax rate, power shortages, and forex-related losses, and the PGM narrative in Zimbabwe begins to unravel.

Despite the challenging market, mining companies continue to invest. Zimplats has committed over US$444 million to a new smelter and SO₂ abatement projects. Unki Mine is investing US$700,000 into solar expansion. These investments are vital steps toward value addition and environmental sustainability, yet their viability is heavily dependent on global PGM demand and pricing stability.

Valterra’s leadership, while optimistic, acknowledges the challenges. In a recent interview, Valterra CEO Craig Miller emphasised the long-term value of PGMs and noted that platinum prices should be higher based on structural deficits.

However, optimism must now contend with market realities: investor caution, diminishing auto-catalyst demand due to electric vehicle uptake, and the rise of China’s influence on commodity pricing.

China, a dominant player in global manufacturing and the battery supply chain, increasingly dictates prices for key materials like lithium, nickel, and platinum.

As expert Magnus Bekker noted, “As long as China keeps commodity prices down, they will control many global manufacturing sectors.” For Zimbabwe, this is a double-edged sword.

While Chinese investments support local mining operations, they also mean local producers remain vulnerable to China’s pricing strategies.

There’s also scepticism about platinum’s role in hydrogen battery technology. Once seen as a saviour for PGM demand, hydrogen applications may not be as impactful as expected. Bekker bluntly called hydrogen for energy storage “one of the dumbest ideas ever,” stating that any future demand could be met by recycling platinum from scrapped internal combustion engine (ICE) vehicles.

Against this backdrop, the exit of Anglo American from Amplats, just as platinum prices struggle, could well be seen as a statement of retreat. It suggests that even the most seasoned players are recalibrating expectations and de-risking their exposure to PGMs.

To safeguard its future, Zimbabwe must adapt. This includes ramping up value addition, establishing beneficiation and refining plants, and ensuring policy consistency. Local processing not only retains more value but also protects producers from external price shocks. Furthermore, regional collaboration, especially with South Africa, could pave the way for an integrated PGM industrial complex across Southern Africa.

Investment in innovation and battery technology must also be prioritised. Zimbabwe, rich in lithium and PGMs, could emerge as a key player in next-generation battery materials—if it builds the necessary infrastructure and attracts the right partners.

Ultimately, while Anglo’s exit may not spell doom for PGMs, it certainly demands reflection. Zimbabwe’s PGM sector stands at a crossroads: cling to an outdated model of raw exports, or evolve into a competitive, integrated, and value-driven industry. The time to decide is now.

Pickstone Tragedy Sparks Call for Stronger ASM–Large-Scale Mine Relations

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Pickstone Tragedy Sparks Call for Stronger ASM–Large-Scale Mine Relations

The tragic loss of four lives at Pickstone Peerless Mine in Chegutu has prompted renewed calls from the government and industry leaders for urgent reforms to improve safety and foster better relationships between large-scale mines and artisanal miners, Mining Zimbabwe can report.

By Rudairo Mapuranga

The incident, caused by an unauthorised underground blast allegedly carried out by illegal miners, resulted in the collapse of an open pit, trapping five people underground. One was rescued, while four others perished.

Speaking at the scene, Deputy Minister of Mines and Mining Development, Honourable Polite Kambamura, condemned the illegal mining activities and promised tougher penalties in the near future.

“In future, if anyone is caught doing this, the government is going to come up with a deterrent, not just fines, but jail time. We want people to mine responsibly. We want sustainability, we don’t want loss of life — we want smart gold,” Kambamura said.

He urged large-scale mining companies to collaborate more with surrounding communities, especially artisanal and small-scale miners (ASM), to improve safety and environmental practices.

“We implore large-scale miners to establish good working relationships with small-scale miners. Share knowledge, help monitor safety, and guide them towards formalisation. This is key to responsible and sustainable mining,” he added.

Dallaglio Tightens Security Measures

Dallaglio Investments, the owners of Pickstone Peerless Mine, confirmed the details of the collapse and said they are assessing additional measures to enhance site security and prevent future tragedies.

“The open pit’s structure was compromised by an illegal blast, which caused the collapse,” said Dallaglio CEO James Beare. “We’re evaluating options, including pit lighting, increased patrols, surveillance cameras, and drones to prevent unauthorised access and enhance safety.”

Beare acknowledged the need for deeper engagement with surrounding communities and said the company is committed to playing its part in fostering safer mining environments.

Time to Formalise ASM

The government has for years been pushing for the formalisation of ASM to promote safer practices and enhance the sector’s contribution to the economy. Despite their significant role in gold production, most artisanal miners operate informally, often without proper training, licences, or equipment.

“This accident is a wake-up call. Formalisation is not about policing miners — it’s about protecting them,” said Deputy Minister Kambamura. “We want a system that supports safe, legal, and productive mining.”

He emphasised that formalised ASM could access training, financial support, and technical guidance from both government and private players like Dallaglio, reducing the risks of such fatal accidents.

Safety at the Core of Mining Growth

As Zimbabwe seeks to grow its mining sector by 2030, the issue of safety, especially in the informal sector, has become a national priority. The Pickstone Peerless Mine disaster is one of several fatal incidents in recent years linked to unsafe artisanal mining.

Industry experts argue that without inclusive policies and stronger cooperation between mining companies, regulators, and communities, such tragedies will continue.

The Deputy Minister said the government remains committed to dialogue and developing policies that not only grow the mining sector but also protect lives.

“This is no longer about production figures only,” Kambamura said. “It’s about lives, communities, and ensuring that when the mining is done, our people still have a future to look forward to.”

Parliament Demands Stronger Mining Reforms, Local Benefits, and Energy Investment

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Parliament Demands Stronger Mining Reforms, Local Benefits, and Energy Investment

Zimbabwe’s Parliament has reaffirmed its commitment to push for transformative mining reforms aimed at ensuring communities benefit meaningfully from the country’s mineral wealth, while also enhancing investment, beneficiation, and sustainable power supply to drive long-term national development, Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking on behalf of the Chairperson of the Parliamentary Portfolio Committee on Budget, Finance and Investment Promotion, Hon. Energy Mutodi, Masvingo South Member of Parliament Hon. Tanatsiwa Mukomberi told delegates at the Chamber of Mines Annual Mining Conference in Victoria Falls that the country needs to urgently address widespread public concerns regarding the mining sector’s impact, its benefits to citizens, and the transparency of mineral resource governance.

“Our mandate as Parliament includes legislative, representative, and oversight roles. We’re receiving strong sentiments from the public calling for mining to translate into tangible development—roads, clean water, schools, and clinics,” Mukomberi said.

He cited constitutional obligations under Section 13(4), which states that local communities must benefit from resources in their areas. However, mining-rich districts like Marange still lack basic infrastructure. This paradox—where communities are surrounded by mineral wealth yet remain in poverty—has led to growing calls for reinstating Community Share Ownership Trusts (CSOTs), under which communities would receive a 10% stake in nearby mining operations.

Mukomberi stressed that environmental concerns were equally critical. While acknowledging that mining inherently disrupts land, he urged miners to implement responsible and sustainable practices, echoing Parliament’s concern with intergenerational equity—a key tenet in the Public Finance Management Act.

“The principle demands that both current and future generations benefit from mining. This means not only extracting responsibly but also reinvesting in exploration, education, and infrastructure to ensure long-term returns,” he said.

He called for more deliberate national budgeting for exploration, particularly in high-potential areas like Muzarabani (gas) and Lupane (coalbed methane), and for full geological mapping to guide investors. Beneficiation and value addition were also top priorities.

“When we export raw minerals, we’re exporting jobs and reducing foreign currency potential. Parliament wants lithium miners to submit proposals to establish processing plants locally. The current 5% beneficiation tax must be reviewed upwards to incentivise local processing,” he added.

Among the strongest proposals from Parliament and the public were:

  • A sliding scale royalty system based on global mineral prices to cushion miners when prices are low and capture more revenue when prices are high.
  • A revenue-sharing mechanism between the central government, local authorities, and communities from royalties.
  • A review of the 20% Capital Gains Tax on mining title transfers.
  • Mandatory Corporate Social Responsibility (CSR) legislation tied to environmental performance.
  • Stronger compliance with land development levies set by rural district councils.

Mukomberi also highlighted the public’s desire to see indigenous Zimbabweans managing major mines and called for significant investment in mining education and skills development.

On the energy front, he painted a stark picture: the beneficiation plant recently visited by Parliament will require 200 megawatts of electricity at full capacity. He warned that Zimbabwe’s power deficit threatens mining sector viability, echoing calls made throughout the conference.

“There’s urgent need for investment in power generation. Government must incentivise renewable energy by offering guaranteed tariffs and guarantees for Independent Power Producers. Banks must also be encouraged to finance these projects,” he said.

He concluded by urging collaboration across Parliament, government, mining companies, and financiers, saying a thriving mining sector must deliver inclusive growth, local benefits, and future-ready sustainability.

“Our minerals must not be a curse but a foundation for development. This requires bold decisions, strong laws, and collective commitment.”

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