Mining ZimbabweLatest Mining News, Policy and Industry Updates

Veteran geologist and Geo Associates founder and managing director Paul Chimbodza has welcomed President Emmerson Mnangagwa’s commitment to systematic mineral exploration, saying sustained exploration is essential to discovering new deposits and replacing mineral resources being depleted by existing mines, Mining Zimbabwe can report.

By Rudairo Mapuranga

President Mnangagwa said in his State of the Nation Address that Government was capacitating the Mining Promotion Corporation (MPC) and the Zimbabwe Geological Survey (ZGS) to undertake systematic exploration and develop bankable mineral projects for investment.

Chimbodza, who has more than three decades of experience spanning geology, mineral exploration and the mining industry, said the announcement addressed one of the fundamental requirements for sustaining Zimbabwe’s mining sector.

“If that was the statement from His Excellency, I think it is a very well-received intention,” Chimbodza said.

“The mining industry is underpinned by exploration, and if a country is not engaged in exploration, then there will be no new discoveries, let alone any capacity to replenish the ores that will be recovered in the existing mining operations. Exploration is indispensable.”

Chimbodza said the Government has an important role in generating geological information and providing the foundation upon which private-sector exploration and investment can build.

“You will note that the country is very well mapped from a geological perspective, unlike other countries where you have to start mapping from scratch. In Zimbabwe, more than 80 per cent of the country is mapped, so I received that statement from His Excellency with a lot of excitement,” he said.

The renewed focus on exploration is also contained in the National Development Strategy 2 (NDS2), which identifies strengthening geological mapping and mineral resource evaluation as priorities for 2026 to 2030.

Under the strategy, the MPC and ZGS are to receive enhanced technical, financial and institutional capacity to undertake systematic exploration, develop bankable mineral projects and package them for investment.

Chimbodza said adequate personnel, equipment and funding would be critical if the policy was to produce new discoveries rather than remain an institutional objective.

“In my days at the Geological Survey, we had more than 20 geologists who were covering the country, mapping, providing data that would then be catalogued for access by private players,” he said.

“That’s the role of government, and that intention and statement by His Excellency is highly applauded.”

Chimbodza said Zimbabwe’s exploration activity had declined significantly after major exploration programmes of previous decades, limiting the emergence of new discoveries capable of replenishing the country’s mining pipeline.

“After that, when exploration ceased, we haven’t had any major discoveries, albeit one or two that the private sector has been involved in,” he said.

His comments underline the distinction between having broad geological mapping coverage and undertaking the detailed geological, geochemical, geophysical and drilling work required to identify and quantify economically viable mineral resources.

Geological Survey Director Forbes Mugumbate has similarly described exploration as the starting point of the mineral value chain, covering work from regional geological, geochemical and geophysical mapping through detailed analysis, drilling and resource quantification.

Mugumbate has said intensified exploration and improved management of geological and mineral-resource data could generate more exploration information, support mineral discoveries and make Zimbabwe more attractive to higher-level investment.

Chimbodza has extensive experience across Zimbabwe’s mining and exploration industry, including senior exploration and executive roles, and has worked on projects involving precious, base, industrial and energy minerals.

For Zimbabwe’s mining sector, the success of the renewed exploration drive will ultimately depend on whether increased geological work translates into new exploration targets, discoveries, defined mineral resources and bankable projects.

For Chimbodza, however, the starting point remains clear: without sustained exploration, Zimbabwe cannot continuously replace the mineral resources being consumed by its existing mines.

Tharisa founder and executive chairman Loucas Pouroulis will step down from the board today after more than 16 years as chairman, with the platinum and chrome producer announcing a leadership overhaul as it prepares for its next phase of growth. Mining Zimbabwe can report.

By Ryan Chigoche

Pouroulis will become Founding Chairman Emeritus from October 1, while Lead Independent Director Carol Bell will become independent non-executive chairman. Independent non-executive director David Salter will become deputy chairman.

The changes also see Chief Operating Officer Michelle Taylor appointed Chief Corporate and Commercial Officer, while Roy Murley, currently Executive: Operations at Tharisa Minerals, will become Chief Operations Officer.

The appointments come as Tharisa focuses on the transition of its South African mine from open-pit to underground mining, the development of the Karo Platinum Project in Zimbabwe and greater commercial value creation across the group.

The company said the changes were the result of a structured succession process aimed at establishing independent leadership of the board and strengthening the executive team for the group’s next phase of growth.

Pouroulis founded Tharisa and has chaired the board since October 2010. During his tenure, the company developed from a greenfield project into a large-scale, integrated producer of PGM and chrome concentrates, listed on the Johannesburg Stock Exchange in 2014 and the London Stock Exchange in 2016.

He also oversaw the expansion of Tharisa from a South African operation into a multi-asset, multi-jurisdictional mining group.

“Building Tharisa from a greenfield project into an integrated, multigenerational producer of PGM and chrome concentrates has been one of the great privileges of my career,” Pouroulis said.

“It continues a journey in Southern African mining that began more than six decades ago and has always been driven by a belief in identifying mineral assets with unrealised potential, building capable teams and creating enduring businesses around them.”

Pouroulis said securing Karo Platinum had been a key part of Tharisa’s growth strategy.

“Securing Karo Platinum through many years of perseverance positions Tharisa to become a multi-asset, multi-jurisdictional group for generations to come,” he said.

“Good governance means planning succession well before it is needed, and I am delighted to hand the chairmanship to Carol, who knows this Board and this business deeply. I remain fully committed to Tharisa and look forward to supporting Carol, Phoevos and the team as Founding Chairman Emeritus.”

As part of the transition, Bell will relinquish her position as Lead Independent Director when she becomes chairman, with Salter taking over as deputy chairman.

Bell joined the Tharisa board as an independent non-executive director in March 2016 and has served as Lead Independent Director since October 2021. She currently chairs the Nomination, Remuneration, and Climate Change and Sustainability Committees.

The Nomination Committee oversaw the chairman succession process, with Bell recusing herself from all deliberations concerning her appointment.

Tharisa said the board considered Bell’s more than nine-year tenure and her knowledge of the company in selecting her to lead the board through the transition.

“I am honoured to be asked to serve as Chairman of Tharisa and to follow on from Loucas, whose vision created the Company,” Bell said.

“Tharisa has a long-life asset base, a clear growth pipeline and a strong executive team. My priority is to lead a Board that holds itself to the highest governance standards and supports management in delivering the underground transition at the Tharisa mine and brings Karo Platinum into production in a sustainable way to create long-term value for all stakeholders.”

Salter brings more than 30 years of experience in developing and managing mining companies, including open-pit and underground PGM operations.

His previous listed-company roles include chairman of Keaton Energy until its sale to Wescoal in 2017 and managing director of Eland Platinum until its sale to Xstrata in 2007.

The executive reshuffle gives Taylor a broader commercial mandate as Tharisa seeks to capture more value from its PGM and chrome production.

Taylor, who has been with Tharisa since 2008, will lead the group’s commercial strategy covering marketing, sales, offtake, logistics and downstream beneficiation for PGM and chrome concentrates.

She has also played a role in the group’s Johannesburg and London listings and the development of Karo Platinum in Zimbabwe.

Taylor serves as a director of the World Platinum Investment Council and the Minerals Council South Africa and is president of the International Chromium Development Association.

Murley, meanwhile, will take charge of safety, mining, processing and operational delivery across Tharisa’s South African and Zimbabwean assets.

His responsibilities include execution of the underground mine development at the Tharisa Mine.

Murley has played a leading role in planning the mine’s transition from open-pit to underground operations and has more than 37 years of experience across mining, processing, project and risk management.

He is a qualified Mining Engineer and Electro-Mechanical Engineer.

Tharisa chief executive Phoevos Pouroulis said the changes would strengthen the group as it advances its growth pipeline.

“On behalf of the executive team, I thank Loucas for his leadership, guidance and mentorship, and for the vision and determination that has brought Tharisa to where it is today,” Phoevos Pouroulis said.

“His contribution extends well beyond the Group: over more than six decades, he has helped establish and develop mining businesses across South Africa’s gold, diamond, PGM, coal and chrome sectors, and his contribution to chrome was recognised with the industry’s Lifetime Award in 2019.”

He added: “I warmly welcome Carol as Chairman of the Board and have witnessed her clarity and independence over many years as Lead Independent Director. Roy’s operational depth will be central as we take the Tharisa Mine underground and bring Karo Platinum into production.”

Phoevos said Taylor’s new role would also help sharpen the group’s commercial focus.

“Michelle has been instrumental in building Tharisa’s operations since 2009, and her new role sharpens our focus on commercialisation, markets, customers and capturing more value from every tonne we mine,” he said.

The leadership changes are effective from October 1, with Taylor and Murley reporting to Phoevos Pouroulis.

Tharisa said the changes would also further align its governance arrangements with the UK Corporate Governance Code, the King V Code on Corporate Governance for South Africa and the JSE Listings Requirements, while supporting the company’s governance obligations as a company listed in the London Stock Exchange’s Equity Shares (Commercial Companies) category.

Zimbabwe platinum producer Zimplats Holdings will hold its 26th annual general meeting on October 27, with shareholders set to vote on a new auditor, the re-election of two directors and changes to the company’s articles of incorporation, Mining Zimbabwe can report.

By Ryan Chigoche

The AGM will be held in Johannesburg, although shareholders will also be able to participate virtually through a real-time online platform, according to the meeting notice.

Among the resolutions before shareholders is the appointment of Axcentium as Zimplats’ independent auditor, together with approval of the proposed audit fees.

Shareholders will also vote on the re-election of two directors, while a special resolution seeks to amend an article of the company’s incorporation.

The governance changes come as Zimplats enters another important phase of investment in its Zimbabwe operations, with the platinum producer pursuing mine replacement, energy and processing projects to sustain production over the longer term.

During the financial year ended June 2026, Zimplats mined 8.4 million tonnes of ore, an 8% increase from the previous year, while tonnes milled rose by the same margin to 8.05 million tonnes. The operation produced 606,000 ounces of 6E metals in matte, according to parent company Implats’ latest results.

Maintaining that production base will require continued investment, particularly as some of Zimplats’ existing mines approach the end of their productive lives.

The company’s Mupani replacement project is being developed to replace production from Ngwarati, Rukodzi and Mupfuti mines, with technical completion still targeted for 2028.

At the same time, Zimplats is expanding its energy infrastructure as it seeks to reduce its exposure to power supply constraints. Its 45MW solar project is expected to be completed in early 2027, forming part of a planned 185MW solar complex.

The investment programme is also reflected in Zimplats’ capital spending plans. For the 2027 financial year, the company has guided for capital expenditure of between R2.4 billion and R3 billion, with spending largely directed towards mine replacement, energy security and environmental compliance.

Zimplats is also progressing its sulphur dioxide mitigation programme at its processing operations, with planning for an acid plant expected to advance towards construction in 2028.

Against that backdrop, the October AGM gives shareholders an opportunity to consider the governance and board matters as the company continues to commit substantial capital to its Zimbabwe operations.

Shareholders unable to attend the Johannesburg meeting physically can participate electronically or vote through the company’s proxy arrangements. Zimplats has, however, cautioned that virtual access relies on third-party technology and that any disruption to the platform would not invalidate the meeting.

Zimbabwe’s mining sector could benefit from increased rail capacity as the National Railways of Zimbabwe (NRZ) seeks US$115 million to acquire locomotives and wagons, potentially easing transport bottlenecks facing producers of lithium, chrome, coal and ferrochrome. Mining Zimbabwe can report.

By Ryan Chigoche

The funding, being negotiated by the Mutapa Investment Fund with Afreximbank, will finance 10 locomotives, 315 wagons and the rehabilitation of critical railway infrastructure as NRZ moves to rebuild its freight capacity.

The intervention comes as Zimbabwe pushes to increase mineral production while mining companies continue to rely heavily on road transport to move bulk commodities to processing facilities and export routes.

NRZ moved about 2.03 million tonnes of freight in 2025, down sharply from 12.4 million tonnes in 1998, highlighting the extent of capacity lost through years of underinvestment and ageing equipment.

The railway is targeting about 3.01 million tonnes of freight this year and 12 million tonnes by 2030, a trajectory that would require a significant increase in the availability and utilisation of locomotives and wagons.

For the mining industry, improved rail capacity could provide a more reliable option for transporting large volumes of minerals over long distances while reducing some of the pressure currently placed on the road network.

Zimbabwe’s expanding lithium, chrome, coal and ferrochrome industries provide a significant potential source of bulk freight for NRZ, particularly as producers increase output and processing capacity.

The railway’s decline has left mining companies and other bulk cargo users increasingly dependent on trucks, adding to logistics costs and placing greater pressure on major road corridors.

NRZ has already begun working with mining companies to restore capacity.

Under a partnership with ferrochrome producer Zimasco, three refurbished locomotives and 100 wagons have been commissioned, while leased Sheltam locomotives are also being used to address immediate traction shortages.

The Zimasco arrangement could provide a model for greater participation by large mining companies in railway capacity, particularly where producers can support dedicated rolling stock or commit cargo through long-term rail contracts.

However, the US$115 million facility is only part of the wider capital required to restore NRZ’s network.

Government has also been discussing a roughly US$600 million rehabilitation programme with China Railway International Group covering tracks, signalling, rolling stock and broader railway infrastructure.

The condition of the network remains critical because additional locomotives and wagons alone cannot deliver higher freight volumes if trains continue to face infrastructure restrictions, slow turnaround times and limited track capacity.

Zimbabwe’s regional position also gives NRZ an opportunity to capture mineral freight moving between Zambia and the Democratic Republic of Congo and ports in South Africa and Mozambique.

For the mining sector, reliable access to these corridors could become increasingly important as mineral production expands and producers seek to manage the cost of moving bulk commodities to export markets.

The scale of the recovery required is significant. Reaching 12 million tonnes by 2030 would mean adding almost 10 million tonnes of annual freight from the 2025 base.

The success of the rail investment will therefore be measured not only by the number of locomotives and wagons acquired, but by whether the additional capacity translates into higher freight volumes, faster wagon turnaround and more reliable service for mining customers.

With Zimbabwe targeting further growth in mineral production, the rehabilitation of NRZ could become an important part of the infrastructure required to support the sector’s expansion.

President Emmerson Mnangagwa has directed Government to strengthen systematic mineral exploration and the development of bankable mining projects as Zimbabwe seeks to unlock more value from its mineral endowment, Mining Zimbabwe can report.

By Rudairo Mapuranga

Addressing the nation during his State of the Nation Address (SONA), President Mnangagwa said the Mining Promotion Corporation (MPC) and the Zimbabwe Geological Survey (ZGS) were being capacitated to undertake systematic exploration and develop projects capable of attracting investment.

“The mining sector remains a key anchor of Zimbabwe’s economic development. To further develop the sector, my Government is capacitating the Mining Promotion Corporation and the Zimbabwe Geological Survey to undertake systematic exploration, while also developing bankable projects for investment,” he said.

The announcement puts greater emphasis on the exploration stage of the mining value chain, where geological information is generated to establish the location, nature and potential scale of mineral deposits before major investment decisions are made.

For Zimbabwe, strengthening exploration could also expand the pipeline of projects available to investors beyond the country’s established mining operations.

The President linked the exploration drive to Government’s broader push for mineral beneficiation and value addition, highlighting developments in the lithium industry.

“In line with our thrust on mineral beneficiation and value addition, we take pride that we recently recorded the first locally produced lithium sulphate from Africa. Additional lithium sulphate plants are being established around the country,” he said.

The focus on bankable projects also points to an effort to move beyond the identification of mineral occurrences towards projects supported by sufficient technical and economic information to attract capital.

Zimbabwe has significant deposits of gold, platinum group metals, lithium, diamonds, chrome, nickel and other minerals, but the development of new deposits depends heavily on the availability and quality of geological information and exploration investment.

The strengthening of the MPC and ZGS therefore gives Government institutions a more prominent role in generating exploration opportunities and preparing projects for potential investment.

For the mining industry, systematic exploration is particularly important at a time when demand for minerals linked to energy transition, industrialisation and battery manufacturing is reshaping global investment patterns.

The President’s announcement also comes as Government continues to push for greater domestic beneficiation, with exploration expected to provide the resource base required to support processing and value-addition projects.

The emphasis on bankable projects could further help bridge the gap between geological potential and actual mining investment, particularly where deposits require additional technical work before development decisions can be made.

Zimbabwe’s mining transformation will ultimately depend not only on the minerals known to exist in the country, but also on the country’s ability to systematically identify new deposits, establish their commercial potential and bring viable projects to development.

President Mnangagwa’s directive places the MPC and ZGS at the centre of that exploration and project-development drive.

PPC Zimbabwe has declared a total of US$25 million in dividends to shareholders during the five months to August 31, 2026, as improved plant performance and higher own-clinker production strengthened the cement producer’s profitability, Mining Zimbabwe can report.

By Rudairo Mapuranga

The company declared US$15 million in dividends during the five-month period and approved a further US$10 million dividend after August.

The latest payout follows a US$36 million dividend paid to PPC Limited by the Zimbabwe business in 2025, highlighting the contribution of the local operation to the South African-listed cement group.

PPC said the improvement in its Zimbabwe operation was supported by its Plant Performance Improvement Plan, with the business recording an EBITDA margin of 34.2 percent, up from 19.1 percent in the comparable period.

For Zimbabwe’s mining and industrial minerals sector, the increase in own-clinker production is significant because clinker is the key intermediate material produced by processing limestone and other raw materials before it is ground into cement.

PPC said higher own-clinker production was translating directly into improved profitability, while its Colleen Bawn kiln achieved what the group described as world-class operating performance during the first quarter of FY27.

The improvement points to the growing importance of domestic mineral extraction and processing in supporting Zimbabwe’s cement industry, particularly through the use of locally sourced limestone and increased processing efficiency.

PPC Zimbabwe remains debt-free, while the group continues to assess opportunities to expand its production capacity in the country.

The Zimbabwe business also recorded a three percent increase in cement sales volumes during the period. Group revenue from Zimbabwe increased by five percent, while a two percent decline in cement revenue from South Africa and Botswana weighed on the wider regional performance.

PPC is also progressing plans for a proposed new integrated cement plant in Zimbabwe.

The group said it is engaging Sinoma on an engineering, procurement and construction contract, while mine prospecting and assessments of financing alternatives are continuing.

The mine prospecting component could have implications for the country’s industrial minerals sector, as the proposed integrated operation would require secure and reliable access to the raw materials needed for clinker production.

PPC, however, cautioned that a maintenance shutdown at the Colleen Bawn plant will moderate margins during the first half of FY27.

The shutdown comes as the company works to maintain the reliability of its kiln assets, following the improved operating performance recorded at the plant.

Despite the expected near-term impact of the maintenance programme, PPC said profitability for the business is expected to remain ahead of the prior year.

The latest performance places greater emphasis on clinker production, plant reliability and access to mineral resources as key drivers of Zimbabwe’s cement manufacturing competitiveness.

With PPC continuing to assess a new integrated plant and conduct mine prospecting, developments in the company’s Zimbabwean operations are likely to remain closely linked to the country’s limestone and broader industrial-minerals value chain.