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Gold buying prices in Zimbabwe per gram/ ounce, 9 February 2026

Gold buying prices in Zimbabwe per gram/ ounce, 9 February 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

Here you go — converted neatly into USD per troy ounce (oz) using 1 oz = 31.1035 g.

CategoryPrice ($/g)Price ($/oz)
SG 90% and above152.084,730.61
SG 85% and above but below 90%150.484,680.85
SG 80% and above but below 85%148.874,630.78
SG 75% and above but below 80%147.264,580.71
Sample 5g and above but below 10g144.844,505.23
Fire Assay CASH152.894,755.81

P

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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

Critical Analysis of the Mines and Minerals Bill 2025

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After taking a deep insight into the gazetted Mines and Minerals Bill, I shall be writing, in series, the said analysis, bordering both on the policy perspective and clause-by-clause analysis.

i. To begin with, the amendment of the Bill has taken so much time and state financial resources without a tangible return for several years (value for money concept). It would be noble that the provisions of the Bill that are too contentious be set aside for further debate, while those that are progressive are retained and the amendments proceed. Some things that have been recycled in the series of Bills are gradually being overtaken by technological advancement, and no one is taking notice. There are key areas such as taxes and farmer–miner issues that cannot wait in abeyance for another five (5) years or so, waiting for an opportunity for a perfect Bill to come by.

ii. The second issue is the absence of a national mining policy. We will continue to be a reactionary nation instead of planning ahead and learning from other jurisdictions. A national policy belongs to the nation, and we determine what constitutes the mining policy, but to remain without a policy altogether is nothing but detrimental to the growth of the mining sector and the economy. The mining policy would give a general sense of certainty as it relates to investment, a clear integrated roadmap with other local administrative structures, and value addition and beneficiation strategy.

iii. Besides the proposed Cadastral system, the provisions of the Bill do not seem to cater for new innovations and the evolution of technology, for example, airborne exploration. There has to be a clear embracing of new technology and also applicable restrictions. Casting a blind eye while technology is advancing will only place us in a reactionary mode without any legal basis to enforce restrictions, compel the release of information, or impose penalties, because without a doubt there are some components of illegal airborne exploration happening around the globe. A balance between embracing and restricting airborne surveys must be clearly spelt out in the current Bill.

iv. There is a need for clarity as to the roles of the PMD and the Mining Cadastral Registrar. Lessons learnt from other jurisdictions show that the current PMD title is absorbed as the Cadastral Registrar, who works with the support of other technical personnel, including ICT. The Cadastral Registrar is the actual issuer of titles that fall under his or her jurisdiction and refers other applications to the relevant issuing authorities. It is not possible to have both the Cadastral Registrar and PMD. The Registrar does not have to be an ICT person, but purely an administrator with support staff. This person reports to the Secretary.

The system is automated on a first-come, first-served basis. If compliance requirements are met and, according to the computerised system, the ground is open to pegging and prospecting, the applicant should get the licence without any hassles. The computer will recommend issuance, and the Cadastral Registrar will sign and upload the certificate. There is no basis for having both PMD and Cadastral Registrar. It is also disastrous to suggest that the Secretary becomes the Cadastral Registrar. Inasmuch as the Secretary cannot be the PMD or a Mining Commissioner (as they were previously known), the Secretary cannot be the Cadastral Registrar.

The Cadastral system is the movement from the use of paperwork to uploading the said paperwork into soft-copy versions, creating a platform where all users can interface with the dashboard and track applications. The computerised system blocks ground not open to pegging and automatically rejects applications over ground that is already occupied. If it is a reservation, the computer will advise, and the Registrar, through his or her team, will refer the application to the relevant issuing authority. If a block is overdue for payment of levies or licence renewal, the dashboard will report this and an automated abandonment will be recorded after the prescribed grace period has lapsed.

There is nothing in the digitalisation process that requires the Secretary to become the Cadastral Registrar. Zimbabwe would be the first country with such a setup. Further, the post simply requires someone with administrative capabilities, not necessarily an ICT technical expert. The critical role ICT plays is to ensure that the system is effectively maintained and always operational, not to evaluate submitted documents, assess compliance, or sign off mining licences. Once coordinates of registered blocks, reserved areas, and special features such as rivers and game parks are entered into the system, there is no further role for ICT beyond system maintenance and monitoring.

v. As it stands, PMD is already issuing titles even under the present Bill, while the Secretary issues a certain class of Special Grants and plays a key oversight role, with powers to correct mistakes made by the PMD. This should continue under the computerised system. Currently, despite the PMD having powers to administer the Act, the Secretary remains the custodian of the Act, balancing administrative issues and liaising with the political executive arm, being the Minister’s office. The Secretary remains the Accounting Officer and has, for all these years, been accountable for the actions taken by officials, albeit under manual systems. The Cadastral Registrar remains a subordinate of the Secretary (for example, in the court system, neither the Chief Justice nor the Secretary for Justice is the Registrar, even after the introduction of IECMS). Role clarity should be considered more seriously than mere title designation.

The general expectation was that the proposed Bill would tackle some of the real issues fuelling mining disputes, beyond merely realigning sections.

vi. Issues around the resurrection of forfeited or old blocks by some registered prospectors (peggers) and individuals with financial muscle, with the assistance of some officials, remain problematic. There are several court cases against registered peggers who register blocks to unsuspecting prospective miners. These peggers either provide incorrect coordinates and later register the block in their own names or to third parties at a price. Some peggers demand exorbitant amounts outside agreed service payments; failure to comply may result in the pegger creating a mining dispute, either as a boundary issue or complete ownership issue, after resuscitating an ancient block.

vii. The proposed Bill, instead of repeating the same forfeiture terms provided in the current Act—which are clearly not working—should have introduced a practical solution. Unfortunately, when the claim holder goes to court, the onus is placed on the miner to prove forfeiture by supplying a forfeiture notice. This is often impossible because the notice is the property of the Ministry, placed on a notice board and removed only by the Ministry. It is also often impossible for the Ministry to release forfeiture notices, especially where there is connivance. Additionally, due to manual record-keeping, documents are misplaced over time, or locating them becomes too burdensome for officials.

This leaves the title holder with nothing to support the claim except a certificate or licence clearly endorsed as a “re-peg.” In court, the Ministry of Mines is not compelled to explain why the certificate is so endorsed. In most cases, the claim holder loses on technical grounds.

Proposal
Introduce automatic abandonment for failure by any registered miner to pay for inspection certificates, which form the basis of keeping licences current. This removes the obligation on the Ministry to issue forfeiture notices. It would also eliminate claims that blocks registered decades ago remain current without activity or ownership claims until profits emerge. Courts should require the Ministry to prove inspection fee payments and inspection reports for previous years and address compensation for new title holders who invested in good faith.

Mining should be considered a business at all production levels, and each miner must ensure their licence remains current. Failure to do so within the prescribed period should be deemed abandonment, and mining rights automatically cancelled. This position will be reinforced by the Cadastral system, which automatically flags non-compliance and opens blocks to pegging after grace periods lapse.

viii. It takes too long for the Ministry of Mines to conduct pre-registration and confirmation surveys due to lack of resources. This results in overlapping applications, especially in provinces where the Cadastral system is ineffective or electricity is unavailable, allowing later applications to overtake earlier ones.

Proposal
The Bill should provide for miners to make payments for travel costs. Officials are currently hesitant to accept fuel payments, yet the status quo renders the Ministry ineffective and leads to wasted time resolving disputes or attending court.

ix. Internal dispute resolution processes should have been addressed more extensively. Currently, appeals presided over by the Minister are limited to those under section 50 of the Act. Many disputes require review mechanisms. Ministerial intervention, supported by technical staff, can resolve disputes faster than prolonged court processes that often return matters to the Ministry. Courts rely heavily on PMD submissions, which may not always be accurate. An internal review process would improve reliability and reduce court congestion.

Proposal

  1. Formally establish a dispute hearing committee in the Bill to advise the Minister.
  2. Properly constitute the committee with competent persons, including outsourced expertise if necessary.
  3. Provide for changing technical teams during field investigations, including private surveyors paid by interested parties, subject to Ministry notification.
  4. Create a register of approved survey companies as alternatives to registered peggers.
  5. Remove section 345(1) of the current Act, which allows parties to deny provincial court jurisdiction without cause.
  6. Re-evaluate the practice of the same PMD presiding over matters after issuing licences, except for boundary disputes. Establish a circuit court system with appropriate technical expertise.

x. Another cause of disputes is abuse of power by current or former employees with historical company information, who purport to represent companies during PMD hearings and obtain favourable orders after resuscitating old claims without current inspection certificates. Often, companies are aware that claims were forfeited, but lack direct communication from the Ministry prevents intervention.

Proposal
Require annual updates of company contact details, including directors, executives, and mine managers, ensuring hearing notices reach all relevant parties. Representation should require a signed resolution, failing which claims are deemed unauthorised.

xi. The progressive provision restricting EIA certificates to operationalised licences should be acknowledged. The previous legal position caused losses due to conflicting statutory requirements. The new provision addresses this gap.

xii. Farmer–miner conflicts remain contentious. While the Bill extends protections, several issues persist.

Proposal

  1. Clarify limits on mining activities within farms based on size.
  2. Cap the number of miners per farm unless consent is obtained.
  3. Gazette minimum compensation payments.
  4. Adopt best practices from other jurisdictions.
  5. Merge new Bill proposals with existing Part V provisions.
  6. Restrict unreasonable withholding of consent and clarify state intervention mechanisms.
  7. Recognise judicial precedents reserving portions of farms for consent-based mining.

xiii. Inspections based on works rather than payments require clarity. Mining differs from farming; not all blocks can be worked simultaneously. Definitions of “works” must be clearly articulated to avoid arbitrary cancellation.

Proposal

  1. Limit claim hoarding by restricting block numbers per individual or entity.

  2. Enforce levy collection provisions already in law.

  3. Allow the Ministry to retain a portion of generated income for inspections and verification.

xiv. Converting Special Grants into mining leases requires ensuring original reservation purposes no longer apply.

xv. Clause 3(2) should clarify that issuance of mining titles does not confer land ownership or rights to erect permanent structures without landholder consent.

xvi. Clause 4(1) lacks definitions such as “work” and “Cadastral System.” Approved cultivation schemes should include board oversight. The clause requires review for missing details and critical definitions.

xvii. To be continued – Part 2 in the making.


This document is the intellectual property of the author and may not be used, in whole or in part, without her consent. Authored by Thammary Brenda Vhiriri, a legal practitioner with extensive experience in the mining sector and land issues, having worked for the Ministry of Mines and the Zimbabwe Land Commission as Legal Counsel.
Contact: +263 772 979 277 | [email protected]

Mining Indaba: A Missed Golden Opportunity to Market Zimbabwe’s Tourism Potential

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The largest mining investment event on African soil, Mining Indaba, is here. It is a globally renowned event that brings together mining investors from across the globe, generating millions for the local economy and life-changing deals that see the emergence of new players and the boosting of already established or struggling ones.

Zimbabwe’s progressive mining players have also gone all out. Mines like Caledonia, Karo and Freda Rebecca participate in the Mining Magazine to be distributed at the event with the Minister of Mines and Mining Development, Dr Polite Kambamura, set to present Zimbabwe’s mining potential to a global audience.

Whilst the event may seem to be only mining-focused, it also presents a five-star opportunity to market Zimbabwe’s tourism potential to a global audience.

With the country being home to the Seventh Wonder of the World, this was a big opportunity for the Zimbabwe Tourism Authority and many in the hospitality sector to showcase what the country has to offer to a very financially sound audience.

Attendees at Mining Indaba include Conglomerate shareholders, directors, chief executive officers, mine owners, engineers, decision makers in the mining manufacturing industry and services, in a nutshell, people who potentially run and are actively involved in the operations of million-to billion-dollar companies. These are people who have real money to spend, so taking advantage of the Mining Indaba was potentially going to be beneficial.

For years, the event has been happening, yet the tourism and hospitality sector seems not to notice, save for VTU Platinum, which advertised in the Mining Zimbabwe edition that will be distributed to attendees at the event.

The Zimbabwe Tourism Authority and the hospitality sector must widen their scope and monitor well-funded sectors like mining. It’s where the money is!

Actively participating in well-oiled sectors like mining will no doubt boost potential. Most people globally want to visit Victoria Falls. All they need is visibility and a nudge to inspire them via exhibition, trade publications like Mining Zimbabwe or word of mouth, and Mining Indaba holds that opportunity.

Mutapa Energy Minerals Unveils Aggressive Lithium Strategy at Sandawana: Concentrator First, Carbonates Next as Prices Rebound

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CEO of the freshly minted Mutapa Energy Minerals has laid out a decisive, phased roadmap for the flagship Sandawana lithium mine, placing a firm bet on the metal’s price recovery and Zimbabwe’s beneficiation agenda, Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking at a Kuvimba Mining House (KMH) press conference, the CEO, Mr Innocent Rukweza, confirmed that the first critical step—the construction of a major lithium concentrator plant at Sandawana—is on track to begin within months, with a hard deadline to start building by June 2025. This move is the operational cornerstone of the broader Mutapa restructuring, which dissolved the Kuvimba Mining House model into focused verticals.

Rukweza’s outline reveals a clear, two-phase strategy aligned with national policy:

  1. Concentrate Plant (Immediate Priority): “We are hoping that before the half-year this year, around June latest, we would have started constructing a lithium processing plant which does concentrate,” he stated. This aligns with previous announcements that the US$270 million facility, with a 600,000-tonne annual ore capacity, will be built under a Build-Operate-Transfer (BOT) model with Chinese partners Zhejiang Huayou Cobalt and Tsingshan Holding Group. Commissioning is targeted for early 2027.

  2. Sulphate and Carbonates (The Strategic Leap): The ultimate goal is to move beyond concentrate to battery-grade materials. “From concentrates we go to the next stage to do lithium carbon and just battery-making material,” Rukweza said, explicitly naming lithium carbonates as part of the future plan. However, he acknowledged the complexity of the leap to sulphate, noting the government’s 2027 deadline to ban concentrate exports presents a “very difficult timeline.” Mutapa Energy Minerals will seek “a little bit of dispensation” while aggressively pursuing partners to make the full supply chain a reality. “We are very much seized with that idea,” he emphasised.

The accelerated push for Sandawana’s development is being catalysed by a favourable shift in the global market. After a brutal two-year slump that saw prices drop nearly 90%, lithium prices have shown a steady recovery since December. This rebound, driven by sustained long-term demand forecasts for electric vehicles and battery storage, validates Mutapa’s strategic timing.

Rukweza’s plan effectively rides this nascent wave. By aiming to have the concentrator operational by 2027—a date previous Kuvimba CEO Trevor Barnard directly linked to a price recovery forecast—Mutapa Energy Minerals is positioning Sandawana to capture value from an expected tighter market.

“Our forecast is that lithium prices will recover sometime in the year 2027, right at a point in time when we expect the concentrator plant to be in production,” Barnard had earlier noted.

The current price uplift adds immediate credibility and urgency to the investment.

Rukweza firmly anchored the strategy within Zimbabwe’s national development frameworks.

“We are aware of the deadline, and obviously, in line with the National Development Strategy 2 (NDS2), we need to beneficiate as much as we can,” he said.

The Sandawana project is a direct manifestation of this policy, transforming Zimbabwe from an exporter of raw ore to a producer of concentrated, and eventually refined, battery-grade material.

The project is poised to become a central pillar of the country’s Vision 2030, aiming to elevate Zimbabwe to upper-middle-income status. By controlling the entire value chain from its wholly owned national asset, Mutapa Energy Minerals seeks to ensure that the wealth generated from this strategic mineral fuels broader economic development.

With the plan firmly set, Rukweza signalled that the door is open for further collaboration. The pursuit of partners for both the concentrate and sulphate stages indicates a pragmatic approach to financing and expertise. As the mining world converges at the upcoming Investing in African Mining Indaba, Sandawana and the Mutapa Energy Minerals vertical will likely be presented as a premier investment proposition—a nationally owned, strategically timed project with a clear path to integrated battery material production.

The challenges are significant. Meeting the aggressive construction timeline, securing final regulatory and Cabinet approvals, and navigating the technical complexities of sulphate and carbonate production are formidable tasks. However, under the new, focused leadership of the Mutapa Energy Minerals vertical, freed from the old conglomerate structure, the path is clearer.

Sandawana is no longer just a mine; it is the proving ground for Mutapa’s new specialist model and for Zimbabwe’s lithium ambitions. With a concentrator rising on the horizon, lithium prices on the rebound, and carbonates in the strategic plan, Mutapa Energy Minerals is staking its claim in the global energy transition, one tonne of beneficiated material at a time.

10 Misconceptions About Investing in Zimbabwe’s Mining Sector

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Zimbabwe’s mining industry remains one of the most misunderstood investment destinations globally. Persistent myths, often rooted in outdated policy frameworks or selective narratives, continue to shape external perceptions, sometimes overshadowing the country’s undeniable geological endowment and evolving regulatory environment.

By Kelvin Sungiso

As global demand for critical minerals intensifies, particularly those linked to the energy transition, Zimbabwe’s mining sector is once again in sharp focus. Yet investors often approach the market with assumptions that do not reflect present realities.

Below are ten common misconceptions about investing in Zimbabwe’s mining sector and why they deserve re-examination.

1. Zimbabwe’s mining sector is entirely state-controlled

While the state plays a strategic role in certain assets, the sector is predominantly driven by private and joint-venture operations. Major mines across gold, platinum, lithium, and chrome are privately operated, with legally binding investment structures and shareholder protections. Major South African companies like Impala Platinum, Sibanye-Stillwater, Tharisa and Valterra are currently doing exceptionally well in the platinum sector.

2. Foreign investors cannot repatriate profits

Mining is classified as a priority sector for generating foreign currency. Existing investment laws permit profit repatriation, dividend remittances, and offshore debt servicing, subject to standard regulatory processes.

3. Indigenisation laws still require 51% local ownership

The blanket 51% indigenisation requirement was repealed years ago. Today, mandatory local ownership applies mainly to diamonds, and even then, through negotiated arrangements rather than rigid statutory thresholds.

4. Zimbabwe’s mineral potential is largely exhausted

Zimbabwe remains significantly underexplored. Vast tracts of prospective geology—particularly along the Great Dyke and greenstone belts offer substantial upside. Lithium, platinum group metals, gold, chrome, and rare earths continue to attract exploration capital.

5. Policy changes occur without warning or consultation

While policy inconsistency has historically been a concern, recent fiscal and regulatory changes increasingly involve engagement with industry stakeholders, including the Chamber of Mines, Zimbabwe Miners Federation (ZMF) and sector-specific working groups.

6. Power shortages make mining unviable

Energy supply constraints are real, but they have not halted mining investment. Many operations rely on captive power generation, imports, or hybrid energy solutions. Renewable energy projects linked to mines are also gaining traction.

7. Only multinational corporations can succeed

Small- and medium-scale investors play a vital role, particularly in gold and industrial minerals. With the right technical expertise and cost discipline, mid-tier operators have demonstrated strong commercial viability. In fact, Small players generate 60% pf gold submissions to the country’s Refinery, Fidelity Gold Refinery (FGR).

8. Zimbabwe is closed to new mining investors

On the contrary, the government continues to actively court new investment, offering incentives such as duty rebates, capital allowances, and special economic zone benefits for qualifying projects. Investors are warmly welcomed, and with thorough exploration, successful discoveries are almost guaranteed.

9. Regulatory risk outweighs geological reward

Every mining jurisdiction carries risk. In Zimbabwe’s case, many investors weigh regulatory challenges against exceptionally high-grade deposits, shallow ore bodies, and low geological uncertainty, factors that materially enhance project economics.

10. Mining investment ends at extraction

Zimbabwe’s mining policy increasingly prioritises beneficiation and value addition. Opportunities now extend beyond extraction into processing, refining, logistics, manufacturing, and mining services, aligning with broader industrialisation goals.

Rethinking the Narrative

Zimbabwe’s mining sector is not without challenges. However, many prevailing perceptions are anchored in outdated realities rather than current conditions. For investors willing to engage with the market on its present terms, the country offers a compelling combination of scale, grade, and strategic relevance, particularly as global competition for critical minerals accelerates.

As the sector evolves under the National Development Strategy 2 and broader continental frameworks such as the Africa Mining Vision, Zimbabwe’s mining investment narrative is increasingly one of opportunity rather than exception.

Chamber of Mines Mobilises Members for Strategic Gains at Mining Indaba

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The Chamber of Mines of Zimbabwe (CoMZ) is orchestrating a coordinated push for the country’s mining houses at the upcoming Investing in Africa Mining Indaba in Cape Town, with a focus on connecting members with critical opportunities in investment, technology, and markets, Mining Zimbabwe can report.

By Kelvin Sungiso

In an exclusive interview, Chamber Vice President Munashe Shava outlined the organisation’s strategic role in representing the diverse interests of its constituents at the global forum.

“The Chamber of Mines is mandated to represent the interests of our constituents, which are the various mining houses,” Shava stated. “As such, we have various mines with different expectations from the Mining Indaba. Some are looking for investors, while others are looking for markets.”

To address this spectrum of needs, the Chamber will ensure active participation across the conference’s many platforms.

“We are going to be participating in the various forums where all these issues are going to be discussed,” Shava confirmed.

A key area of focus will be technological advancement. Shava highlighted the intent to seek out innovations that drive operational efficiency, a crucial factor in improving competitiveness and margins.

“We have issues around technology to improve efficiencies,” he said. “What is it that our constituents can benefit from the suppliers and solution providers that are going to be participating in the Mining Indaba?”

With the event serving as a premier global gathering, the Chamber is positioning it as an unmissable opportunity for local miners. Shava issued a direct call to members, emphasising the concentrated access to world-class expertise and capital.

“We are encouraging all our constituents and members to be part of this grand opportunity where the world meets the best of the best in terms of solution provision, funding, and more,” he urged.

This organised approach underscores the mining sector’s strategy to leverage international partnerships and cutting-edge solutions. By facilitating these connections, the Chamber aims to help Zimbabwean mining houses not only secure vital resources but also enhance their operational capabilities, directly contributing to the sector’s growth and its pivotal role in the national economy under the National Development Strategy 2 (NDS2).

The Chamber of Mines will be hosting its annual Mining Conference from the 26th to the 29th of May 2026.

Gold buying prices in Zimbabwe per gram/ ounce, 6 February 2026

Gold buying prices in Zimbabwe per gram/ ounce, 6 February 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above144.984,509.89
SG 85% and above but below 90%143.454,462.30
SG 80% and above but below 85%141.914,414.34
SG 75% and above but below 80%140.384,366.78
Sample 5g and above but below 10g138.084,295.26
Fire Assay CASH145.754,533.84

 

Note: The Fire Assay cash price applies to gold above 100g, with no sample deduction.

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

Unki Production Declines 9 Percent in Q4 2025 Amid Grade and Plant Challenges

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Valterra Platinum-owned Unki Mine in Shurugwi has reported a 9 per cent year-on-year decline in platinum group metals (PGM) production for the fourth quarter ended 31 December 2025, according to the company’s latest operational update, Mining Zimbabwe can report.

By Rudairo Mapuranga

The mine produced 54,700 PGM ounces in Q4 2025, down from approximately 60,300 ounces in the same quarter last year (Q4 2024). The decline was driven by the continued mining of lower-grade ore blocks and disruptions to concentrator throughput resulting from power and plant instabilities.

This result also marks a significant quarter-on-quarter drop from the 60,300 ounces produced in Q3 2025, representing a 9 per cent sequential decrease.

A detailed breakdown of the production highlights consistent declines across the key metals, in line with the lower overall output and head grade:

  • Platinum (Pt): Estimated to have decreased significantly, likely in line with the overall 9 per cent drop.
  • Palladium (Pd): Also estimated to have seen a substantial decline.
  • Rhodium (Rh) and other PGMs: Production expected to have fallen proportionally.

The reported issues represent a combination of persistent geological factors and acute operational interruptions. The mining of lower-grade ore blocks is a planned, cyclical challenge the operation has navigated before. However, the mention of “concentrator throughput disruptions resulting from power and plant instabilities” points to additional external and internal pressures impacting recovery and output.

This quarter’s performance is a notable reversal from the relative stability reported in Q4 2024, when production saw only a marginal 2 per cent decline. The 9 per cent year-on-year drop is the most significant quarterly decrease reported since a 7 per cent fall in Q2 2024, which was also attributed to lower-grade mining.

The production dip at Unki occurs against a complex global PGM market backdrop. While the automotive sector’s long-term transition to electric vehicles continues to weigh on demand forecasts for palladium and platinum in autocatalysts, prices have shown volatility. Palladium has fallen sharply from its peaks, while platinum has sought a new equilibrium, finding some support in industrial and hydrogen economy applications. Rhodium prices remain under pressure following significant corrections from historic highs. This environment of subdued prices intensifies the focus on operational efficiency and cost control for producers worldwide, making throughput disruptions and lower grades particularly impactful on mine economics.

The update is among the first quarterly operational reports from Unki since its ownership transition from Anglo American Platinum to Valterra Platinum. It underscores the ongoing technical and infrastructural challenges facing mining operations in Zimbabwe, with power reliability remaining a key operational risk.

As a cornerstone asset for Valterra and a major contributor to Zimbabwe’s foreign exchange earnings, Unki’s ability to manage grade variability and stabilise plant operations will be critical to its performance in the coming year. The mine’s resilience is being tested amid a continued weak global PGM pricing environment, which continues to pressure margins across the industry.

U.S.-Africa Trade Commission Appoints Dru Kucherera as Mines Director, Eyes Strategic 2030 Goals

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In a strategic move to deepen economic ties within the mining sector, the U.S.-Africa Trade Commission has announced the appointment of Dru Edmund Kucherera as its new Mines Director. The appointment, effective immediately, tasks the Zimbabwe-based executive with spearheading efforts to boost mining trade and investment between the United States and African nations, with a clear mandate aligned with the continent’s long-term development blueprint.

By Rudairo Mapuranga

According to an official appointment letter dated 14 January 2026 and signed by Regional Director Pauline Chiripanyanga and Global Chairman Dr. Davison Todson Gomo, Kucherera will lead the development and implementation of trade strategies specifically for the African mining sector. His core responsibilities will include facilitating trade missions, providing market insights on African mining opportunities, and collaborating with stakeholders to address trade barriers.

The appointment is seen as a significant step in bridging the gap between African mineral potential and global investment, particularly from the United States. Kucherera will serve a two-year term, reporting directly to the office of the Commission’s Executive Director.

A Vision Aligned with Continental Ambitions

Central to Kucherera’s new role will be advancing the objectives of the Africa Mining Vision (AMV), a continent-wide policy framework adopted by the African Union in 2009. The AMV advocates for transparent, equitable, and optimal exploitation of mineral resources to underpin broad-based sustainable growth and socio-economic development.

In accepting the position, Kucherera linked his mission directly to this framework and the pivotal timeline leading to 2030. “My focus is unequivocally on facilitating partnerships that translate Africa’s vast mineral endowment into tangible, shared prosperity for its people, in line with the Africa Mining Vision,” Kucherera stated. “The pathway to 2030 is critical. It is about moving beyond raw exports to building integrated mineral value chains, fostering beneficiation, and ensuring that mining catalyses industrialisation and creates lasting value within our communities.”

Strategic Role in a Critical Sector

The creation of this dedicated directorate underscores the increasing strategic importance of the mining sector in U.S.-Africa trade relations. Africa possesses over 30% of the world’s mineral reserves, including critical minerals essential for the global energy transition, such as cobalt, platinum, lithium, and copper.

Kucherera’s mandate will involve working closely with both African governments and private sector players to develop projects that are attractive to U.S. investors and technology partners. This includes promoting sustainable and responsible mining practices, which are increasingly prioritised by international markets and financiers.

“The Commission is confident that Mr Kucherera’s expertise and leadership will be instrumental in unlocking new opportunities and building stronger, more resilient mining economies across Africa,” the appointment letter noted.

Implications for Zimbabwe and the Region

For Zimbabwe, which holds the world’s third-largest platinum reserves and is seeking to revitalise its mining industry, having a national appointed to such an influential pan-African trade role is notable. It positions the country as a potential hub for facilitating broader regional mining investment and dialogue.

Kucherera’s work is expected to extend beyond bilateral deals, aiming to strengthen continental supply chains and enhance Africa’s position in the global mining landscape. The coming years, leading to the 2030 milestone, will be a telling period for the implementation of the Africa Mining Vision, with trade and investment facilitation being a key lever for its success.

The U.S.-Africa Trade Commission’s initiative signals a structured approach to harnessing this potential, with the new Mines Director at the forefront of this endeavour.

Kuvimba Era Ends as Mutapa Investment Fund Unveils Radical Restructuring into Specialised Commodity Verticals

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In a landmark announcement that signals the most significant strategic shift in Zimbabwe’s state-linked investment landscape in a decade, the Mutapa Investment Fund (MIF) has decisively dissolved its legacy mineral resources holding structure, Mining Zimbabwe can report.

By Rudairo Mapuranga

The Fund is ushering in a new era of focused management by organising its vast mining portfolio into five distinct, commodity-specific clusters, marking the effective end of the broad conglomerate model previously epitomised by entities like Kuvimba Mining House.

The announcement, delivered by Simbarashe Chinyemba, MIF’s Chief Investment Officer, at a press conference in Harare, frames the move as a critical step to unlock value, sharpen operational focus, and align with global best practices.

The restructuring dismantles what Chinyemba described as a “spiderweb of various entities” in favour of a streamlined, vertical architecture.

Gone is the old model where mining assets were held through a complex network under the MIF umbrella, including the mining house Defold Mine and other minority holdings. This structure, the CIO argued, led to inefficiencies and a “conglomerate discount,” where diversified holdings obscure value and dilute management focus.

In its place, MIF is establishing five dedicated verticals:

  1. Mutapa Gold Resources
  2. Mutapa Base Metals
  3. Mutapa Energy Minerals
  4. Mutapa Platinum Group
  5. Mutapa Frontier (dedicated to rare earth elements and other strategic minerals)

“This is neither unique nor experimental,” Chinyemba stated. “It simply reflects how the world’s leading mining houses organise themselves to be effective, accountable, and aligned with long-term shareholder outcomes.” He cited global giants like Rio Tinto, Vale, and BHP as precedents for this commodity-centric approach.

New Leadership for a New Structure

In a clear signal of operational intent, MIF has appointed seasoned executives to lead each vertical, moving away from a centralised holding company leadership. The newly announced CEOs, who joined Chinyemba at the announcement, are:

  • Trevor Barnard – CEO, Mutapa Gold Resources
  • Godwin Gambiza – CEO, Mutapa Base Metals
  • Innocent Rukweza – CEO, Mutapa Energy Minerals
  • Munashe Shava – CEO, Mutapa Platinum Group

The leadership for Mutapa Frontier is expected to be announced in the coming weeks. These appointments place direct accountability and technical expertise at the helm of each commodity stream, with a mandate for faster, more informed decision-making responsive to unique market cycles.

While the announcement provided the high-level framework, it implicitly confirms the dissolution of standalone operating companies that fell under the old MIF/Kuvimba umbrella.

Chinyemba positioned this restructuring as the foundational pillar of MIF’s 2026 FIRE strategy—an acronym for Fix, Revive, Strengthen, and Extract value. The new model is designed to:

  • Fix operational inefficiencies by removing administrative layers.
  • Revive and sharpen the strategic focus on each commodity’s fundamentals.
  • Strengthen capital allocation by tailoring investment to the specific needs and cycles of gold, platinum, or lithium, for instance.
  • Extract maximum value by identifying “crown jewel” assets within each vertical for scaling, while isolating underperforming or high-risk segments.

“The technical and economic drivers of gold mining differ vastly from those of lithium or coal,” Chinyemba emphasised. “This new structure allows us to calibrate capital allocation and technical oversight to the specific cycles of each commodity.”

Implications and the Road Ahead

This radical overhaul represents a bold bet on specialisation over diversification. By flattening the hierarchy, MIF aims to enhance agility in a “volatile global market,” where clarity of purpose is deemed its “most important tool.” The move is also seen as an effort to make the Fund’s holdings more transparent and legible to international investors and partners, potentially unlocking new capital.

The process remains subject to regulatory approvals. However, the definitive tone of the announcement suggests the blueprint is set. The dissolution of the old Kuvimba-era holding structure marks the closing of one chapter and the aggressive opening of another, where Mutapa’s mining portfolio is reimagined not as a web of interests but as a collection of focused, world-class commodity businesses tasked with being a “resilient and efficient engine for Zimbabwe’s economic development.”

The success of this ambitious restructuring will now hinge on the execution capabilities of the newly appointed vertical CEOs and their teams, as they begin the complex task of operationalising this new strategy across Zimbabwe’s mining sector.