Home Blog Page 2

Daily Mineral Prices – 5 March 2026

0

Spot and Benchmark Prices (USD per Tonne)

Mineral / ProductLatest Price Range (USD / t)
Chrome Concentrate (40–42% Cr, CIF China)$280 – $330
Lithium Carbonate (Battery Grade)$12,000 – $26,000
Lithium Hydroxide (Battery Grade)$13,000 – $27,000
Spodumene Concentrate (6% Li₂O, CIF China)$2,100 – $2,400
Antimony (Sb, Refined / CIF China)$10,000 – $13,500

 

Key market context (2026):

  • Spodumene prices rose sharply early in 2026, reaching around $2,190–$2,260/t CIF China due to improving lithium demand and tighter supply.

  • Lithium prices remain volatile, with futures in China recently trading around 150,000 yuan (~$20,000/t) amid fluctuations in EV demand.

  • Long-term forecasts suggest lithium could trade between roughly $11,000 and $28,000 per tonne in 2026 depending on supply and battery demand.

Gold buying prices in Zimbabwe per gram/ ounce, 5 March 2026

Gold buying prices in Zimbabwe per gram/ ounce, 5 March 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above157.064,884.52
SG 85% and above but below 90%155.404,832.89
SG 80% and above but below 85%153.744,781.26
SG 75% and above but below 80%152.084,729.63
Sample 5g and above but below 10g149.584,651.87
Fire Assay CASH157.904,910.64

 

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.

Vice President Chiwenga Visions Sandawana as Zimbabwe’s Next Industrial Hub as Mutapa Energy Unveils Massive Lithium Expansion

0

Vice President Dr. Constantino Chiwenga has declared that Sandawana Mine is set to become Zimbabwe’s premier industrial hub, anchored by Mutapa Energy Resources’ aggressive lithium beneficiation programme that will see the historic emerald mining area transformed into a multi-mineral processing zone powering the nation’s Vision 2030 agenda, Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking after a comprehensive tour of Sandawana Mine and the Zhe Li Mining Investments lithium processing plant in Zvishavane, the Vice President outlined a bold vision for the complete value chain, from raw ore extraction to the production of high-purity lithium compounds for pharmaceutical and aerospace applications.

“What has now become clear is that we need to go further,” Dr Chiwenga said, addressing the media after the tour.

“We have been with Chief Ngungumbane in the meeting, and Chief Majibaza, and the local authorities. That cooperation in making this resource beneficial, starting with the local communities and to the nation of Zimbabwe, has been thoroughly discussed.”

Massive Resource Base Confirmed

The Vice President revealed that exploration work conducted at Sandawana has already confirmed a resource base of approximately 100 million tonnes of lithium-bearing ore — a figure he described as highly significant, given that it represents only a fraction of the total concession area.

“Now the exploration which they have done so far, I think it gives them about 100 million tonnes. And we are saying that’s enough, and this is a very small area compared to their concession, which is quite huge,” Dr. Chiwenga stated.

He noted that exposed reserves already accumulated stand at approximately 39 million tonnes, providing immediate feedstock for the processing infrastructure now under development. Independent estimates suggest the full 3,882-hectare concession could potentially host up to 600 million tonnes of lithium resources, placing Sandawana among Africa’s most significant lithium assets.

Processing Infrastructure Taking Shape

The tour included a detailed inspection of operations spanning both the Sandawana mining site and the Zvishavane processing facility, which currently receives product from Mutapa Energy Resources for toll processing.

Mutapa Energy Minerals, the Mutapa Investment Fund subsidiary managing the asset, is advancing plans for a US$270 million lithium concentrate plant at Sandawana, with construction scheduled to commence by June 2026. The facility, being developed under a Build-Operate-Transfer model with Chinese partners including Zhejiang Huayou Cobalt and Tsingshan Holding Group, will have an annual processing capacity of 600,000 tonnes of ore, with commissioning targeted for early 2027.

Mutapa Energy Minerals CEO Mr. Innocent Rukweza confirmed to the Vice President that the company is aggressively pursuing the full beneficiation chain.

“In conjunction with NDS2, there is going to be a ban around 2027 on the export of concentrates. We have started to receive interest from partners who can assist us to even set up lithium carbonate plants, which is the final product used in battery making.”

The Vice President articulated a vision extending far beyond concentrate production, directing management to pursue complete value addition up to the highest purity levels.

“That must now bring them to develop beneficiation up to sulphate, up to carbonate. Then we can now go on to the higher stages, 92.5, 99, 99.1, 99.5, up to the stage where we are producing pharmaceuticals, we are producing aircraft equipment,” Dr. Chiwenga said. “That’s what we want.”

These ultra-high-purity lithium compounds command premium prices in global markets and are essential components in advanced energy storage systems, medical technologies, and aerospace applications, representing the pinnacle of the lithium value chain.

The Vice President also toured the Zvishavane lithium processing plant operated by Chinese investor Zhe Li Mining Investments, which handles approximately 500 tonnes of ore daily and currently processes material from Sandawana under commercial arrangements.

“Now we have combined the two, the mine and the processing plant in Zvishavane, which is receiving the product from Mutapa Energy Resources here in Sandawana, and they are selling it,” Dr. Chiwenga explained, highlighting the integrated nature of current operations.

This integration ensures that Sandawana’s production is immediately monetised while permanent processing infrastructure is developed on site.

Rural Industrialisation Takes Centre Stage

The Vice President positioned Sandawana’s development as the flagship project for Zimbabwe’s rural industrialisation agenda under the Second Republic.

“Now that entails us achieving that objective of rural industrialisation. And this place of Sandawana is going to be number one,” he declared. “Companies will be drawn, industries will be drawn, manufacturing companies will be drawn to come here to do a number of things.”

The transformation of Sandawana is expected to create thousands of direct and indirect jobs, with the sector nationally having already generated over 5,000 positions across six major lithium producers. Mutapa Energy’s aggressive exploration programme, targeting completion by the end of 2026, will further define resources on Blocks B and C, potentially expanding the operation’s scale and workforce requirements.

Dr. Chiwenga emphasised that Sandawana’s economic potential extends well beyond lithium, noting the area’s historical significance as an emerald producer and its known gold occurrences.

“And it’s not only lithium. This area, remember, if we had emeralds, we would have gold. And naturally, the soil is a good resource, a very good agricultural area,” he said. “So quite a number of things are going to be taking place.”

Recent exploration has confirmed the presence of tantalite, copper, and other minerals within the concession, positioning Sandawana as a multi-commodity development opportunity.

Community Engagement and Benefit Sharing

Central to the Vice President’s message was the imperative of community participation in the benefits flowing from Sandawana’s development. His engagement with traditional leaders, including Chief Ngungumbane and Chief Majibaza, underscored the government’s commitment to ensuring that local communities are direct beneficiaries of mining activity.

“That cooperation in making this resource beneficial, starting with the local communities and to the nation of Zimbabwe, has been thoroughly discussed,” he said.

Mutapa Energy has indicated that community development initiatives, including clinic construction, water provision infrastructure, and support for local enterprises, will be prioritised as cash flows improve with firmer lithium prices.

Policy Framework Driving Transformation

The Sandawana development is occurring within a policy environment deliberately calibrated to maximise national benefit from Zimbabwe’s critical mineral endowment. In a decisive move, the government announced an immediate suspension of all raw mineral and lithium concentrate exports on 25 February 2026, accelerating the original January 2027 deadline.

The ban, delivered by Minister of Mines and Mining Development Hon. Dr. Polite Kambamura, requires that only mining title holders with operational, in-country processing facilities may export value-added products such as lithium sulphate. This policy shift has fundamentally altered global lithium markets, with prices surging as approximately 100,000 to 180,000 tonnes of Lithium Carbonate Equivalent are removed from international supply chains.

For Zimbabwe, the policy ensures that companies such as Mutapa Energy, Sinomine’s Bikita Minerals, and Prospect Lithium Zimbabwe advance their processing facilities with urgency. Bikita is advancing a US$500 million phased lithium sulphate plant, while Prospect’s Arcadia facility — Africa’s first lithium sulphate plant — is set to commission imminently with a 50,000–60,000-tonne annual capacity.

Strategic Alignment with Vision 2030

The Vice President expressed satisfaction with the plans presented by Mutapa Energy management and articulated the government’s expectations for maximum value extraction.

“And I’m quite happy with the plans that have been presented before us by the CEO of this infrastructure, Mr. Rukweza — what they have given us, what their plans are,” Dr. Chiwenga said. “And we have now given them what we want to see from the government side, that we need to benefit from everything that we are putting out from the ground.”

This directive aligns perfectly with President Mnangagwa’s Vision 2030 agenda of transforming Zimbabwe into an upper-middle-income economy through value addition, beneficiation, and industrialisation. Sandawana’s evolution from a historic emerald mine to a world-class lithium processing hub — and ultimately to a diversified industrial centre — embodies the Second Republic’s determination that Zimbabwe’s mineral wealth must benefit its people.

As the Vice President’s tour concluded, the message was unequivocal: Sandawana is not merely a mine — it is the future of Zimbabwean industrialisation, a flagship for rural development, and a testament to what is possible when strategic vision, policy clarity, and community partnership converge.

The lithium beneath its soil will power not only electric vehicles and aircraft equipment, but also the prosperity of generations yet to come.

Daily Mineral Prices – 4 March 2026

0

Spot and Benchmark Prices (USD per Tonne)

Mineral / ProductPrice Range (USD / t)
Chrome Concentrate (40–42% Cr, CIF China)$264 – $300
Lithium Carbonate (Battery Grade)$13,000 – $22,000
Lithium Hydroxide (Battery Grade)$14,000 – $25,000
Spodumene Concentrate (6% Li₂O)$900 – $1,200
Antimony (Sb, Refined / CIF China)$9,000 – $12,000

Key Highlights

  • Chrome prices remain steady with CIF China values around $264–$300/t.

  • Lithium carbonate and lithium hydroxide prices continue to fluctuate due to EV demand and supply dynamics.

  • Spodumene concentrate sees strong demand from Chinese ports, holding firm at $900–$1,200/t.

Cabinet Approves Tougher Line on Riverbed Mining: ‘Polluter Pays’ Principle to Drive Ecosystem Rehabilitation

0

In a move to protect Zimbabwe’s endangered water bodies, Cabinet has received and approved a progress report on the nationwide ban on alluvial mining, signalling a shift from enforcement to active rehabilitation, Mining Zimbabwe can report.

By Rudairo Mapuranga

Briefing the media on Tuesday, Minister of Information, Publicity and Broadcasting Services, Honourable Zhemu Soda, announced that while the ban is holding, the Government is now laser-focused on restoring degraded river ecosystems and has approved a new legislative framework to accelerate the process.

Presenting the report on behalf of the Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Honourable Anxious Masuka, Minister Soda revealed that the Inter-Ministerial Committee on the Ban on Alluvial Mining has successfully implemented a “Whole-of-Government” compliance system. This strategy has ensured sustained enforcement of Statutory Instrument 188 of 2024, which imposed a total ban on riverbed mining.

“Reports indicate that in all the alluvial mining-prone provinces, active mechanised alluvial mining has largely been halted,” Minister Soda stated. He noted that sustained efforts are currently underway to eliminate the lingering threat of local illegal miners who continue to invade previously mined areas, with crack teams deployed to combat the destruction of riverine ecosystems.

Introducing the ‘Polluter Pays’ Principle

With active mining significantly curtailed, the Government is pivoting to environmental clean-up. Cabinet has approved the strengthening of the legislative framework to accelerate the river rehabilitation process. A key component of this new phase is the invocation of the “Polluter Pays Principle,” which holds perpetrators financially accountable for the damage they have caused.

“Since alluvial mining has largely ceased, attention has now shifted to the rehabilitation of degraded sites, with liability for the rehabilitation being borne by the perpetrators,” Minister Soda explained. The Government is expediting legislative reforms to ensure environmental justice and accountability, ensuring that those who destroyed the rivers are responsible for fixing them.

Provincial Focus and Ongoing Enforcement

The updated report provided a provincial breakdown of the damage and the work ahead. According to briefings from previous Cabinet updates, provinces like Matabeleland North and Masvingo have experienced some of the most severe river siltation, which has contributed to a national water crisis. While active mining has stopped in most areas, the rehabilitation efforts will be concentrated where degradation is most acute.

The Government has maintained a tough stance on violators. Earlier enforcement efforts following the ban in August 2024 led to over 300 arrests across the country, with offenders facing penalties of up to 12 months’ imprisonment and fines of no less than US$5,000. Minister Soda reaffirmed that monitoring and evaluation mechanisms remain heightened to prevent any resurgence of these destructive activities.

While the Cabinet has approved a Government-led rehabilitation framework, efforts to heal the land are also taking root at the community level. In Gwanda District, for example, initiatives supported by the Dabane Trust and international partners like LIMCOM and UNDP are seeing local communities build erosion control barriers and plant trees to reclaim degraded land in the Limpopo Basin. These grassroots efforts are seen as complementary models for sustainable land management.

As the new “Polluter Pays” legislative framework is developed, stakeholders are calling for open and competitive procurement to ensure the credibility and success of the national river restoration programme.

Cabinet remains committed to protecting Zimbabwe’s natural heritage, with Minister Soda emphasising that this clampdown and the subsequent rehabilitation mark a decisive step towards environmental accountability and sustainable development.

Gold buying prices in Zimbabwe per gram/ ounce, 4 March 2026

Gold buying prices in Zimbabwe per gram/ ounce, 4 March 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above156.124,426.00
SG 85% and above but below 90%154.464,378.94
SG 80% and above but below 85%152.814,332.16
SG 75% and above but below 80%151.164,285.39
Sample 5g and above but below 10g148.684,215.08
Fire Assay CASH156.944,449.25

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.

Middle East War Pushes Gold to One-Month High, Eyes Turn to Record Forecasts

0

Gold climbed to a one-month high on Monday as escalating conflict between the United States and Iran triggered a fresh wave of safe-haven buying, reinforcing bullish forecasts from major banks that see the metal heading toward record territory, Mining Zimbabwe can report.

By Ryan Chigoche

Spot gold surged as much as 2.9% to trade above US$5,400 an ounce, its strongest level since the late-January sell-off, before trimming gains as US markets opened.

The rally builds on a year in which bullion has already advanced nearly 25% in the first two months, underscoring sustained investor appetite for defensive assets.

The latest leg higher follows military strikes by the US and Israel on Iran that reportedly killed Iran’s Supreme Leader, Ali Khamenei. Tehran’s retaliatory missile attacks across the region have raised fears of a broader and prolonged war, prompting investors to reduce exposure to risk assets and rotate into gold.

Beyond sentiment, the conflict carries tangible implications for physical bullion trade.

The United Arab Emirates, particularly Dubai, is one of the world’s most important gold trading and transit hubs. Large volumes of bullion pass through Dubai en route from London, the dominant over-the-counter trading centre, to key consuming markets such as India and China.

Airspace restrictions and suspended flights in the Gulf have temporarily disrupted cargo flows, complicating logistics for traders.

While the interruptions are expected to be short-term, any prolonged disruption to flights through Dubai could tighten supply in Asian markets and add further upward pressure to prices.

The renewed surge in bullion strengthens the case made by major financial institutions that gold could revisit — and potentially exceed — record highs.

Bank of America expects prices to reach US$6,000 an ounce within the next 12 months, citing geopolitical instability and continued central bank buying. JPMorgan has raised its long-term forecast to US$4,500 an ounce and maintained a year-end target of US$6,300.

For Zimbabwe, where gold remains the country’s largest single foreign currency earner, sustained prices above US$5,000 per ounce would significantly enhance export receipts and producer margins.

A move toward the US$6,000 mark, if realised, could further stimulate exploration spending and production growth across the sector.

For now, the market remains focused on whether the conflict escalates further. But with bullion sitting at a one-month high and global banks projecting record levels, gold’s safe-haven status is once again driving momentum, and the war in the Middle East may yet prove a catalyst for the next leg higher.

Cabinet Cements Raw Minerals, Lithium Export Ban, Reveals Shocking Scale of Mineral Plunder

0

The Zimbabwean government has decisively cemented its position on raw mineral exports, with Cabinet formally approving the immediate suspension of all lithium concentrate and unprocessed mineral exports following revelations of massive illicit stockpiling in a neighbouring country, Mining Zimbabwe can report.

By Rudairo Mapuranga

Following Cabinet approval, Permanent Secretary for the Ministry of Information, Publicity and Broadcasting Services, Mr Nick Mangwana, provided the official rationale behind the accelerated ban, exposing a disturbing pattern of behaviour by some actors in the mining sector.

“As you are all aware, the Government previously announced its intention to implement a total ban on the exportation of raw lithium ore and concentrates effective 2027,” Mr Mangwana stated. “This measure was designed to allow for an orderly transition towards domestic beneficiation, ensuring that our nation fully benefits from its mineral wealth through local value addition.”

The 2027 Deadline That Backfired

The government’s original timeline was intended to give miners adequate notice to prepare for the transition to processing. Instead, it appears to have triggered the opposite reaction.

“Regrettably, in the period following that announcement, we witnessed an unprecedented and unacceptable scramble,” Mr Mangwana revealed. “Instead of preparing for value addition, some actors engaged in a frenzy of mining activity, seeking to extract and export as much raw lithium as possible before the deadline.”

The Permanent Secretary dropped a bombshell that crystallises the government’s urgency:

“Disturbing reports further indicate that substantial quantities of our lithium have been illicitly stockpiled in a neighbouring country, depriving our nation of its rightful revenue and future industrial potential.”

This revelation—that Zimbabwe’s lithium is being warehoused across the border, waiting for who-knows-what purpose—explains why the government felt compelled to act with immediate effect rather than waiting until 2027.

“Plunder of Our National Heritage”

“This behaviour amounts to nothing less than the plunder of our national heritage. It is a direct undermining of our sovereignty and our collective economic future.”

The language is significant. By framing the illicit exports as “plunder” and an attack on “sovereignty,” the government is signalling that it views this not as mere regulatory non-compliance, but as a fundamental threat to the nation’s economic security.

Cabinet Endorses Minister Kambamura’s Position

Last week, Mines and Mining Development Minister Hon. Dr Polite Kambamura announced the immediate suspension of all lithium concentrate and raw mineral exports. Yesterday, Cabinet formally approved that decision, elevating it from a ministerial directive to full government policy.

The distinction matters. Minister Kambamura’s announcement represented the executive branch acting within its authority. Cabinet’s endorsement now brings the full weight of collective government decision-making behind the measure, making any attempt to circumvent it a challenge not just to one ministry but to the entire administration.

What the Ban Means

The suspension applies to all lithium concentrates and raw minerals with immediate effect, including shipments already in transit. Only mining companies holding valid mining titles and approved beneficiation plans will be authorised to export any minerals. Agents and third-party traders are explicitly barred from the export chain.

For lithium specifically, the message is unambiguous: build processing capacity in Zimbabwe, or lose access to Zimbabwe’s resources. Companies like Zhejiang Huayou Cobalt and Sinomine, which have invested hundreds of millions in local processing plants, are positioned to thrive. Those who hoped to continue shipping raw concentrate until the last possible moment have been caught flat-footed.

The Illicit Stockpile Question

Mr Mangwana’s revelation about stockpiles in a neighbouring country raises urgent questions. How much lithium is sitting across the border? Who owns it? How did it get there? And most importantly, what does the intended destination say about the networks that have been exploiting Zimbabwe’s resources?

The government has not yet named the country involved, nor provided details on the quantities stockpiled. But the very existence of such stockpiles confirms what civil society organisations like ZELO have been documenting: Zimbabwe’s lithium value chain has been porous, exploited by well-funded networks operating across borders with apparent impunity.

Enforcement Now Critical

With the ban now cemented at Cabinet level, the focus shifts to enforcement. The Minerals Marketing Corporation of Zimbabwe (MMCZ) has already stationed officers at key border posts. The Zimbabwe Revenue Authority (ZIMRA) is under instruction to verify every shipment. The Ministry of Mines has reserved the right to test consignments at any time to verify mineral composition.

Mr Mangwana’s statement makes clear that the government is aware of the tactics used to evade controls—falsified documents, expired permits used repeatedly, minerals declared as something else entirely—and is determined to close every loophole.

A Defining Moment

This is a defining moment for Zimbabwe’s mining sector. For years, the narrative has been that the country’s mineral wealth is being stolen through smuggling and undervaluation. The 2027 ban was supposed to address this gradually. But the discovery of stockpiles across the border has forced the government’s hand.

The question now is whether the enforcement mechanisms can match the ambition of the policy. MMCZ is better resourced than before. ZIMRA is under pressure to perform. The provincial mines offices have been given a gatekeeper role. But the networks that have profited from illicit trade are sophisticated, well-funded, and deeply entrenched.

Mr Mangwana’s statement serves notice that the government understands the scale of the challenge and is prepared to meet it. The plunder, he says, ends now.

For compliant miners who have invested in processing and followed the rules, the ban creates a level playing field. For those who built business models around exploitation and evasion, the game is up. And for Zimbabwe, the hope is that this decisive action marks the beginning of a new era—one in which the nation’s minerals finally work for the nation’s people.

The ZiG Barrier: How Bank Account Requirements Could Derail Gold Deliveries

0

The Reserve Bank of Zimbabwe (RBZ)’s introduction of a 10% ZiG payment for small-scale gold miners was positioned as a move toward financial inclusion and fairness. But if the government truly wants to promote the ZiG and ensure gold flows through formal channels, it must confront an uncomfortable truth: Zimbabwe’s banks may be the weakest link in this chain.

By Rudairo Mapuranga

While Fidelity Gold Refinery has urged miners to submit their banking details to facilitate the new 90:10 payment structure, a cursory glance at the reality facing artisanal miners reveals a system designed for exclusion rather than inclusion. If a miner with a valid national ID cannot open a simple bank account to access his own money, the policy collapses, and with it, ZiG’s credibility.

Let’s be straight with each other.

The government wants gold. Fidelity Gold Refinery wants gold. The RBZ wants foreign currency and wants to promote the ZiG. Everyone agrees that small-scale miners are the engine of this sector, contributing over 75% of national deliveries.

But there is a brick wall standing between the miner and the formal system, and it is called the banking sector.

The new 90:10 payment structure requires miners to have bank accounts to receive their ZiG portion. On paper, this sounds reasonable. In reality, it is a demand that ignores how the small-scale mining sector actually works.

The ID Is All They Have. It Should Be Enough.

A small-scale miner is not a company. He does not have a board of directors. He does not have a company secretary. He does not have a fancy office with a water bill in his name.

What he has is a National ID. And with that ID, he can do everything the state requires of him:

He uses his ID to obtain a mining certificate from the Ministry of Mines.

He uses his ID to pay his taxes (royalties) at the Zimbabwe Revenue Authority (ZIMRA) counter.

He uses his ID to pay his fees to the Rural District Council (RDC).

He uses his ID to sell his gold to Fidelity Gold Refinery.

For every interaction with the government, the ID is sufficient. The state takes his money. The state issues his permits. The state buys his gold.

But when the state, through its banks, is asked to give him back his own money in ZiG, suddenly the ID is not enough.

Suddenly, the miner is told he needs:

Proof of residence (a utility bill for a man who lives in a tent next to his mine shaft).

Company registration documents (for a sole proprietor who works with his bare hands).

Tax clearance certificates (even though he pays his royalty at the point of sale, on the spot).

Affidavits.

Let’s be clear: this will not work.

You cannot treat a man as a legitimate economic actor when he is paying taxes and selling gold, and then treat him as a security risk when he tries to open a bank account. You cannot collect revenue from him using his ID and then refuse him service using the same ID.

The “Proof of Residence” Trap

The most absurd requirement is the “proof of residence.”

A miner from Shurugwi who is currently operating in Filabusi does not have a residence in the formal sense. He has a temporary shelter. He has a relationship with the local chief or village head.

But banks want a stamped letter from a council or a utility bill. They want a paper trail that assumes everyone lives in a suburban house with prepaid electricity meters.

This is not financial inclusion. This is financial exclusion dressed up in compliance jargon.

Bank Limits: The Silent Killer

Even if a miner jumps through these hoops and opens an account, the battle is not over.

Banks impose transaction limits. A card might be capped at US$2,000 per day, roughly the value of 12 grams of gold.

But a miner delivering to Fidelity is not just selling his own gold. He is often selling on behalf of a team of panners. A single delivery could represent the output of 10, 20, or 50 people. The payment might be US$10,000 or more.

How does he distribute that money when his bank card blocks him after US$2,000?

He cannot. The system grinds to a halt.

So he does what any rational person would do: he avoids the bank altogether. He takes cash. He stays informal. He keeps the cycle moving.

The Cycle of Gold

This is the part policymakers refuse to understand: miners do not hoard cash. They move it.

A miner receives payment. He buys fuel. He pays the crusher owner. He buys spares. He pays his labourers. The money flows back into the economy within hours or days.

The ZiG portion, if it is trapped in a bank account with low limits and high friction, becomes useless for this cycle. It becomes “dead money.” And miners will do everything they can to avoid dead money.

The Comparison That Stings

Think about this: a miner can walk into a bar and buy a round of drinks for his entire team using EcoCash. He can send money to his family instantly via mobile money. The private sector has solved instant value transfer.

But he cannot walk into a bank and access his own gold proceeds without a letter from the village head confirming he lives somewhere.

Mobile money agents do not ask for proof of residence. Why do the banks?

The Way Forward

If the government is serious about the ZiG and serious about formalising gold deliveries, the message to the banks must be simple and uncompromising:

  • A National ID must be enough.
  • Drop the proof of residence requirement for Tier 1 gold miner accounts.
  • Drop the company registration requirement for individual producers.

Create a “Gold Miner” account class with dynamically adjusted limits based on verified Fidelity deliveries.

If you can open a bank account with an ID in South Africa, Botswana, or Kenya, you should be able to do the same in Zimbabwe.

The banks will cry “compliance” and “risk management.” But let’s be honest: the real risk is not the miner. The real risk is driving millions of dollars in gold into the black market because the formal system is too slow to adapt.

The Bottom Line

  • The miners are not asking for favours. They are asking for consistency.
  • You trust my ID to tax me. You trust my ID to license me. You trust my ID to buy my gold.
  • Trust my ID to give me my money.

Until that happens, the banks will remain the weakest link in the gold value chain. And the ZiG will remain a currency that miners admire from a distance but refuse to touch.

December is coming. The outcome will speak for itself.

Flotation Plant on Track as Premier Engages Zimbabwe Over Lithium Export Ban

0

Premier African Minerals, has confirmed that its new spodumene flotation plant for the Zulu Lithium and Tantalum Project is expected to arrive on site today, following a short delay from the previously announced timetable, Mining Zimbabwe can report.

By Rudairo Mapuranga

In a corporate update, the London-listed company also addressed the recent suspension of lithium concentrate and raw mineral exports announced by Zimbabwe’s Ministry of Mines and Mining Development, confirming it remains in dialogue with authorities and does not anticipate the ban disrupting future production from Zulu.

Flotation Plant Delivery Imminent

The 15–20 tonnes-per-hour spodumene flotation circuit, procured from Xinhai Technology Processing, is now scheduled to arrive at Zulu on or around Tuesday, 3 March. A specialist installation engineer from the manufacturer arrived on site yesterday (2 March 2026), with the Zulu team ready to begin assembly immediately on foundations already constructed.

Additional materials for access walkways and electrical cabling are being purchased separately and will be delivered during the assembly phase. The company continues to target commissioning and optimisation of the new flotation circuit during the second quarter of 2026.

“I am extremely pleased to report that, following a short delay from the timetable previously announced and after several weeks of planning and mobilisation, we now expect the new spodumene flotation plant to arrive on site on Tuesday, 3 March,” the company’s Managing Director, Graham Hill, said.

The new spodumene flotation circuit will replace the previous circuit, with the balance of the processing plant retained. A further update will be provided at the company’s Annual General Meeting this Wednesday.

Engagement Over Lithium Export Suspension

Premier also addressed the recent announcement by the Ministry of Mines regarding the immediate suspension of lithium concentrate and raw mineral exports. The company confirmed it is fully aware of the regulatory development and remains in open dialogue with the Ministry regarding the suspension and the framework for future product shipments from Zulu.

During 2024, Premier formally engaged with the Ministry and presented its proposed beneficiation and value addition strategy for Zulu, outlining longer-term processing and optimisation plans designed to enhance in-country value addition. The company stated it will continue engagement to ensure alignment with Zimbabwe’s evolving beneficiation policy framework.

“In the meantime, and in response to certain recent announcements by the Ministry regarding the suspension of lithium concentrate and raw mineral exports with immediate effect, we are maintaining dialogue with the Ministry and remain aligned with Zimbabwe’s beneficiation objectives, having previously presented our value addition roadmap for Zulu,” Hill added.

The company stated that, based on its understanding that the ban is targeted at specific issues, it does not currently envisage the suspension impeding Zulu’s future commercial production strategy as it progresses installation and commissioning of the flotation plant. A further update will be provided as and when the situation is clarified.