Mining ZimbabweLatest Mining News, Policy, and Industry Updates

By Ryan Chigoche

The Government of Zimbabwe has hailed artisanal and small-scale miners (ASM) as the country’s new heroes, recognizing their critical role in strengthening the local economy. These miners are expected to help Zimbabwe reach 50 tonnes of gold per year in the near future—a major milestone for the sector and a significant boost for an economy highly dependent on mining.

Christopher Mutsvangwa shared this optimistic outlook, emphasizing how the ASM sector’s contributions are helping to support the Zimbabwe dollar, which is increasingly backed by gold. This has provided much-needed financial stability for the country.

Thanks to the surge in gold production, the Zimbabwe dollar has maintained a more stable exchange rate against the US dollar. While some experts have raised concerns that this stability could be artificial due to tight liquidity, the strong performance of the gold sector—underpinned by gold reserves—has been the main factor keeping the currency steady.

As the country battles to preserve its local currency, Mutsvangwa said at a recent press conference that Zimbabwe’s artisanal and small-scale miners have emerged as a crucial factor in the nation’s financial stability, calling them “the new heroes of the economy.”

“In terms of currency, the strengthening we’ve seen is significant, and a key factor in this is how our artisanal and small-scale miners have stepped up in the gold sector, making substantial contributions to the economy. We’re now seeing consistent deliveries of around 4 tonnes per month, and at this rate, Zimbabwe is on track to reach 50 tonnes of gold per year. These miners are the new heroes of Zimbabwe.”

“Gold remains the backbone of our economy, and in the current global geopolitical climate, it has become a reliable safe-haven asset. I’m sure the RBZ Governor is pleased—not only are gold volumes rising, but he’s also managed to double the value of the country’s reserves. Zimbabwe is riding the wave of surging gold prices, which have more than doubled per ounce. So while our gold output is increasing in quantity, it’s also soaring in value—thanks largely to the efforts of the ASM sector,” Mutsvangwa added.

Mutsvangwa’s statement comes as the latest figures from Fidelity Gold Refinery highlight the sector’s growth. Small-scale miners produced 8,696.97 kg of gold in April 2025, a remarkable 111.1% increase from the 4,120.01 kg produced during the same period last year.

Looking at month-to-month growth, April 2025 saw a 38.3% increase in total production, rising by 1,069.77 kg from March’s 7,627.20 kg. Small-scale miners continued to lead, delivering 2,926.11 kg in April, up from 1,864.99 kg in March—a 56.9% rise. When comparing April 2025 to the same month last year, small-scale miners saw a dramatic 140.3% increase, up from 1,218.20 kg.

April 2025 also saw unprecedented volatility in gold prices. After hitting an all-time high of US$3,500 per ounce, prices fell sharply due to factors such as proposed tariffs and geopolitical tensions.

Despite this volatility, the price of gold has surged by 57% since 2020, creating higher profit margins for mining companies. Recently, however, prices have faced some pressure, correcting from recent highs of US$3,435 per ounce amid renewed optimism over US-China trade talks and profit-taking ahead of US Federal Reserve policy announcements.

This surge in both production and prices comes at a critical time for Zimbabwe, which has faced significant economic challenges related to the local currency.

Experts agree that the ASM sector will remain a key player in Zimbabwe’s financial stability.

As Zimbabwe continues to ride the wave of rising gold prices, the growing contributions of ASM miners will be essential to securing the country’s economic future.

By Rudairo Mapuranga

Multi-listed, gold-focused miner Caledonia Mining Corporation Plc (NYSE American, AIM, and VFEX: CMCL) held its Annual General Meeting (AGM) on Tuesday in St Helier, Jersey, where key decisions were made, including the reappointment of directors and the retention of BDO South Africa Inc. as the company’s auditor, Mining Zimbabwe can report.

According to Caledonia, the AGM saw participation from 92 shareholders, representing 58.27% of the company’s outstanding voting shares, either in person or by proxy. Several resolutions were approved during the meeting, including the re-election of directors and the reappointment of the auditor.

The following directors were reappointed with strong shareholder support:

• Mark Learmonth – 99.52% in favour

• John Kelly – 97.37% in favour

• Nick Clarke – 99.18% in favour

• Genilda Wildschutt – 92.11% in favour

• Gordon Wylie – 92.04% in favour

• Victor Gapare – 97.52% in favour

• Tiriro Gadzikwa – 99.10% in favour

• Stefan Buys – 99.56% in favour

• Lesley Goldwasser – 99.65% in favour

While most directors received near-unanimous support, Wildschutt and Wylie faced slightly higher opposition, with 7.89% and 7.96% of votes cast against their reappointment, respectively.

Shareholders also approved the reappointment of BDO South Africa Inc. as the company’s auditor for the upcoming year. The board was further authorised to determine the auditor’s remuneration.

Additionally, the following individuals were reappointed to the Audit Committee:

• Gordon Wylie

• Genilda Wildschutt

• Tiriro Gadzikwa

• Lesley Goldwasser

Platinum Group Metals (PGMs), Gold, and Critical minerals value chain are set to dominate discussions at the upcoming Chamber of Mines of Zimbabwe Annual Conference in Victoria Falls, scheduled for May 21–24, 2025.

According to the Chamber of Mines Chief Executive Officer (CEO), Isaac Kwesu, the conference will shine a spotlight on these vital commodities through specialised symposiums and thematic sessions tailored to address pressing issues and opportunities in the sector.

The Gold Symposium and PGMs Session will offer in-depth dialogue on critical industry themes such as exploration prospects, value addition through beneficiation, and environmental sustainability. Experts from local and international operations, policymakers, and researchers will share insights into how Zimbabwe can position its gold and PGM industries competitively in the face of fluctuating global prices and shifting investor expectations.

Meanwhile current President, Mr. Thomas Gono, will conclude his two terms at the helm of the mining industry’s premier representative body. A new President will be appointed on the first day, when constitutional meetings will be held.

Gono is currently deputised by ZIMASCO CEO Mr John Musekiwa, who is the First Vice President and Munashe Shava as Second Vice President. Shava is Kuvimba Mining House’s technical director.

Chamber of Mines of Zimbabwe Annual Conference and Exhibition

The conference provides a platform for industry leaders, investors, and government stakeholders to align on strategies that ensure long-term growth, sustainability, and competitiveness for the country’s mining sector.

It is one of the top events that attracts Mining companies’ Chief Executive Officers and boards of directors.

For registration contact
Nyasha or Nom’hle
+263 782 708 398 – 401
Email: [email protected]

Visit the Chamber of Mines website on www.chamines.co.zw

British exploration firm Kavango Resources Plc has announced encouraging early drilling results from Prospect 3 of its Hillside Gold Project in Matabeleland, southern Zimbabwe.

By Ryan Chigoche

The Hillside Project is Kavango’s most advanced venture in the country. It spans 503 hectares and includes 44 gold claims, divided into six exploration zones. Prospect 1, which includes the historic Bills Luck Mine, has previously shown strong potential. Between 1916 and 1950, the mine produced 17,000 ounces of gold at an average grade of 7.7 grams per tonne.

With global gold prices now exceeding US$3,000 per ounce, Kavango is intensifying exploration efforts at Prospects 3 and 4. Recent drilling at Prospect 3 revealed better-than-expected gold grades across six defined mineralised shear zones. These zones appear to become richer with depth, indicating potential for shallow open-pit mining in the short term, followed by deeper mechanised underground mining.

The company’s shallow drilling programme—34 diamond drill holes in total—has provided enough geological and assay data to begin defining a resource at Prospect 3. A follow-up drilling phase is now being planned to explore the extent of the gold mineralisation along strike and at greater depths. An official update will be released once preparations are complete.

Kavango noted that the structural characteristics of Prospect 3 resemble those found in gold deposits in Western Australia, where modern spiral decline mining methods are commonly used.

CEO Matthew Turney said the higher-than-expected grades across multiple zones offer a bigger opportunity than initially anticipated. The results suggest a mineralised system with economic potential, supported by a strong correlation between high-grade drill intercepts and existing artisanal workings.

Artisanal miners have been active at Prospect 3 for the past 20 years, but their operations typically reached only 25 metres below the surface. According to Kavango, deeper sections of the hard rock—specifically granodiorite—remain largely untouched and show increasing gold grades at depth.

Early findings indicate that the mineralised zone at Prospect 3 could be at least 150 metres wide and over 650 metres long. It remains open both along strike and at depth. Kavango’s next drilling phase will aim to test the full extent of this system and potentially confirm a significant gold discovery.

Alongside Hillside, Kavango is also developing its Nara and Leopard projects. Nara includes four historic mines near Bulawayo, with a combined production history of more than 90,000 ounces of gold. Leopard consists of two claim groups that have together produced 2,000 ounces.

The Ministry of Mines and Mining Development has emphasised that collaboration among all stakeholders is essential to addressing the persistent issue of gold smuggling and mineral leakages in Zimbabwe’s mining sector.

By Ryan Chigoche

These illegal activities continue to drain national resources and undermine efforts to capitalise on the country’s mineral wealth fully.

As Zimbabwe aims for a target of 40 tonnes of gold production in 2025, the sector has already shown encouraging performance in the year’s first quarter.

This early progress fuels optimism for meeting the goal, but the path forward hinges on reducing illicit gold trade and ensuring all gold is routed through official channels.

Without curbing smuggling, reaching this target will remain a difficult challenge.

According to reliable reports, gold smuggling costs Zimbabwe over $1.5 billion annually—a staggering loss that impacts the national economy, especially since mining is one of the country’s largest foreign currency earners.

Against this background, Minister of Mines Winston Chitando, speaking at the Gold Mobilisation Send-Off Workshop in Harare, addressed the urgency of collaboration among all stakeholders to combat these issues.

“It is important to acknowledge, however, the significant challenges that continue to face our gold mining sector. Foremost among these are illicit activities and the ongoing issue of gold smuggling. Due to its inherent nature as a high-value and low-volume commodity, gold is particularly susceptible to leakages to various international markets. To effectively curb these detrimental activities, strong collaboration and shared responsibility amongst all stakeholders is paramount,” he said.

A key element of the government’s strategy to address gold smuggling and mineral leakages is the Gold Mobilisation Program. The focus of the 2025 First Quarter Gold Mobilisation Exercise will be the eight mining provinces.

These exercises are integral to the broader effort to formalise gold trading in Zimbabwe.

By offering favourable terms and ensuring timely payments, the government is encouraging miners to sell through official channels rather than turning to illicit buyers.

This approach aims to curb illegal exports and boost gold deliveries through formal systems, which are crucial for meeting the country’s gold production target.

In addition to the Gold Mobilisation Exercises, the government is enhancing efforts to monitor mining activities and strengthen border security to prevent illegal exports.

Increasing surveillance at mining sites and reinforcing border controls will help ensure that Zimbabwe’s gold resources are safeguarded and contribute to the nation’s economic development.

Minister Chitando further emphasised the need for vigilance and ongoing collaboration to protect the country’s mineral resources:

“As we move forward, we must remain vigilant against illicit activities and smuggling. The inherent value of gold necessitates a continued collaborative effort amongst all stakeholders to safeguard this precious resource for the benefit of Zimbabwe.”

Through sustained efforts and a commitment to formalising the gold trade, Zimbabwe aims to reduce mineral leakages and ensure its resources contribute to the country’s prosperity, providing both economic growth and long-term stability for the sector.

In a strategic move aimed at unlocking Zimbabwe’s gold potential, Kuvimba Mining House’s Gold Cluster, the biggest gold miner in the country, has launched an extensive exploration programme set to significantly extend the life of its flagship gold operations — Freda Rebecca, Jena Mine, and Shamva Mine.

By Rudairo Mapuranga

Currently, Freda Rebecca operates with a life-of-mine of four years, Jena with five years, and Shamva Mine with fifteen years. The company’s target is to ensure each of these operations holds at least a 10-year lifespan to guarantee long-term sustainability and value for the nation.

“We have embarked on the first leg of an extensive exploration programme this year,” said Patrick Maseva-Shayawabaya, the Head of the Gold Cluster, during a media tour at Freda Rebecca Mine in Bindura. “Our goal is to extend our operations to a minimum average of 10 years across all our gold assets.”

The exploration effort involves drilling a total of 37,000 metres at a total cost of US$7 million. This bold investment could unlock approximately 40 million tonnes of ore, containing nearly 2 million ounces of gold.

While the current focus is on this year’s phase, the exploration programme is designed to be continuous, reinforcing Kuvimba’s long-term commitment to Zimbabwe’s gold sector.

“Our life-of-mine strategy isn’t just about numbers. It’s about sustaining jobs, empowering communities, and ensuring the nation continues to benefit from its resources,” said Maseva-Shayawabaya.

In addition to exploration, the Gold Cluster is rolling out safety and innovation-driven improvements, particularly at Freda Rebecca, to combat challenges like ground falls. These include remote loading and charging systems to reduce underground risk and improve operator safety.

As Zimbabwe’s largest gold producer, Kuvimba’s exploration commitment signifies a robust confidence in the country’s mineral wealth and its potential to drive the broader economy.