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Kavango pushes back Nara Gold acquisition deadline to early 2026

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Kavango Resources Plc has given itself more time to wrap up the takeover of the Nara Gold Project in southern Zimbabwe, extending the completion deadline to 27 February 2026 as both sides work through outstanding legal requirements, Mining Zimbabwe reports.

By Ryan Chigoche

Nara comprises 45 adjoining gold claims covering four historic mines that collectively yielded over 90,000 ounces in the past, although the ground has never been tested with proper modern exploration techniques. The asset sits within the Filabusi Greenstone Belt, a well-known gold corridor that remains largely underexplored despite decades of small-scale activity.

Kavango, which now controls three gold projects in the country, Hillside, Nara and Leopard, says the extension allows it and the seller to finalise all remaining paperwork.

“Kavango and the seller have agreed to extend completion to 27 February 2026, to facilitate finalisation of the legal formalities. Both parties remain committed to completion and the execution of the Nara sale and purchase agreement as soon as possible,” the company said.

The miner’s local exploration strategy is centred on the Hillside Project, its flagship target consisting of 44 claims stretching across 503 hectares. Nara and Leopard form the remainder of its Zimbabwe portfolio.

Kavango earlier announced a US$5 million funding commitment from Purebond Limited, earmarked for the Nara transaction and to boost working capital as the company prepares for a capital raise linked to its planned listing on the Victoria Falls Stock Exchange.

Work at Nara is largely focused on the historic Killarney Mine, where artisanal miners operate on upper levels while deeper sections remain flooded. Kavango believes this waterlogging may have shielded untouched mineralisation for decades.

“Kavango believes that flooding at deeper levels may have preserved significant unmined gold mineralisation until now,” the company said.

Recent drilling appears to support that optimism.

“Drilling at Killarney has confirmed a gold-bearing system beneath existing workings. Key results from hole NAKLDD001 intersected new mineralised hanging wall and footwall zones, supported by IP data identifying a strong resistivity low coincident with the core of the mine workings.”

According to the company, the geological signatures point to mineralisation continuing both along strike and at depth, giving further weight to the project’s potential.

National Responsible Mining Audit Framework Pilot Underway as Government Steps Up Oversight

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The Ministry of Mines and Mining Development has this week begun piloting a new National Responsible Mining Audit Framework (NRMAF) at selected mining sites, marking the first field implementation of a revised system aimed at strengthening compliance in the sector, Mining Zimbabwe can report.

By Ryan Chigoche

The ongoing pilot sees Ministry inspectors leading a unified team of officials from several government MDAs, including the Environmental Management Agency, Immigration Department, and National Social Security Authority.

The pilot comes at a time when the mining sector continues to face widespread non-compliance, particularly among small-scale operators. Reports from the first two audits indicate the presence of repeat offenders, suggesting that voluntary compliance alone has been insufficient. Authorities say this underscores the need for a more structured and coordinated approach that combines oversight with guidance, ensuring miners meet operational, environmental, and legal standards.

The RMA concept was first introduced through audits conducted in 2023 and 2024 to strengthen compliance across Zimbabwe’s mining sector.

While those audits were considered progressive, a government-commissioned gap analysis led by ENM Advisory highlighted weaknesses such as fragmented inspections, uneven documentation checks, and limited coordination among regulatory agencies.

The review also noted the absence of a clear roadmap linking audits to legislative mandates, strategic national goals, and international ESG benchmarks, limiting their effectiveness as tools for measurable, sustainable transformation.

Insights from this analysis informed the design of the new, more robust RMA Framework, which is now being piloted with support from civil society organisations, including the Zimbabwe Environmental Law Organisation (ZELO).

The current pilot tests a coordinated inspection system across multiple MDAs, aiming to improve transparency and provide practical guidance to miners, with the success of the pilot expected to inform future legislative reforms.

The nationwide framework will strengthen governance, environmental safeguards, and worker protections throughout Zimbabwe’s mining sector.

Officials emphasised that the audit is educational, not punitive, particularly for small-scale miners. Many compliance gaps identified in previous audits were linked to limited awareness rather than deliberate violations, and the framework is designed to guide operators towards safe, environmentally responsible, and legally compliant practices.

With the pilot now underway, the Ministry is testing a system that balances enforcement with education, signalling a more structured and responsible approach to mining oversight in the country.

MMCZ Empowers Young People Nationwide in Gemstones

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In a dynamic move set to reshape Zimbabwe’s mining landscape, a wave of young entrepreneurs from every corner of the nation is being equipped to transform rough local stones into dazzling global treasures. The skills revolution comes as the sector prepares to celebrate its rising stars at the Young Miners Foundation’s (YMF) prestigious 15th Anniversary Awards, Mining Zimbabwe can report.

By Rudairo Mapuranga

Spearheaded by the Minerals Marketing Corporation of Zimbabwe (MMCZ) in partnership with the Zimbabwe School of Mines (ZSM), the groundbreaking Gemstone Cutting and Polishing Training Programme is unlocking unprecedented value. With strategic support from the Young Miners Foundation (YMF), Women in Mining in Zimbabwe, and Women in Gemstones Mining, the initiative is creating a new generation of lapidary experts, fostering local beneficiation, and keeping mineral wealth within communities.

The training centre buzzes with the sound of saws and polishers, but louder is the buzz of ambition. For participants, this is more than a workshop; it’s a gateway to a future where Zimbabweans are masters of their own geological fortune.

Fortune Dropa from Matabeleland North, who works with amethyst, captured the spirit of discovery: “We knew these stones as just stones only; this year we were introduced! This initiative is empowering. We now understand gemstones in a different way… It gives us power also to empower our communities with the stones they have.”

Echoing this transformative experience, Karel Makwanza from Manicaland shared her vision: “We are learning about gemstones evaluation, cutting and polishing sponsored by MMCZ… I am aspiring to be a jewellery maker. In Mutare, we have a lot of mining sites… and I look forward to teaching other young people in my community.”

The programme directly tackles historical exploitation. Sibanda Donald from Chiredzi stated, “I’m here to learn skills, because in the industry we have been robbed by buyers.” Meanwhile, Takudzwa Katembo from Mashonaland East highlighted the boost in innovation and connectivity: “With this training, we are now getting more ideas and innovation… These programmes are expensive, but MMCZ has made it possible for us to have networking.”

As this skills base expands nationwide, the Young Miners Foundation is set to honour the brilliance already shining within the sector. The YMF 15th Anniversary Awards Dinner, scheduled for December 19 in Bulawayo, will be a landmark gala recognising exceptional young talent, innovation, and leadership across the mining value chain.

Talent Chitepo, YMF Chairperson, connected the dots between training and recognition. “We are thankful to our partners who have seen this programme come to fruition. We have young miners from across the country who are learning this crucial skill,” Chitepo said. “As we enter into the National Development Strategy 2, we look forward to equipping these young miners as more formalised entrepreneurs.”

Regarding the upcoming celebration, Chitepo added,

“Our tradition is the Young Miners Foundation will be awarding individuals who have been contributing to the mining sector… The young people are doing very well… It’s going to be a time for reflecting and celebrating the achievements that the young people are doing.”

Zimbabwe Smashes the 40-Tonne Gold Target

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In a historic achievement for the nation’s mining sector, Zimbabwe has officially surpassed the government’s 40-tonne gold delivery target for 2025, with cumulative deliveries to Fidelity Gold Refinery (FGR) reaching a monumental 41,787.3441 kg at the end of November, Mining Zimbabwe can exclusively report.

By Rudairo Mapuranga

The latest monthly data, which solidifies this record-breaking year, shows a strong recovery in November following an October dip. Total deliveries for the month rose to 4,234.2956 kg, a 1.91% increase from October’s 4,154.9592 kg.

This November push was crucial in cementing the annual milestone. The large-scale mining sector led the monthly charge with a powerful 8.13% surge, delivering 1,000.096 kg, up from 924.8947 kg in October. The artisanal and small-scale mining (ASM) sector, the undisputed engine of this year’s success, maintained its relentless pace with a slight 0.13% increase to 3,234.1996 kg, up from 3,230.0645 kg the previous month.

The figure of 41,787.3441 kg (approximately 41.79 tonnes) for January to November not only crosses the 40-tonne finish line but does so with a full month to spare. This achievement validates the bullish forecasts made by industry leaders throughout the year and sets the stage for a final year-end total that could approach 46 tonnes.

Zimbabwe Miners Federation (ZMF) President Ms Henrietta Rushwaya’s confidence, expressed at MineEntra, has now been decisively proven correct.

“As small-scale miners, we have escalated our gold production to the extent that as of the end of September, our production combined with the large-scale miners had risen up to 33 tonnes of gold,” Rushwaya had stated. “I’m sure Fidelity with your indulgence and concurrence will gladly surpass the 40 tonnes of gold which we had committed to.”

The November data confirms that the sector did more than just “gladly surpass” the target; it has demolished it ahead of schedule. The ASM sector’s contribution, representing over 76% of November’s total and consistently dominating monthly output, has been the single most critical factor in this national success story.

This year’s performance marks a dramatic upswing. The consistent month-on-month strength, barring minor fluctuations, points to a transformed and formalising sector. Analysts attribute the success to a confluence of factors: Fidelity Gold Refinery’s competitive pricing, which has remained above US$115 per gram, a renewed focus on supporting small-scale miners, and improved regulatory mechanisms that have increased confidence in formal channels.

The surpassing of the 40-tonne target carries significant economic weight. Gold is Zimbabwe’s single largest foreign currency earner, and this record output will substantially bolster the country’s reserve position and provide critical leverage in macroeconomic stability efforts.

With the target already secured, the focus for December shifts to the magnitude of the final surplus. The mining industry now has the opportunity to set a new benchmark for annual gold production in Zimbabwe’s modern era.

Industry stakeholders are already celebrating the milestone. “This is a testament to the collective effort of every miner, from the large corporates to the individual artisanal operators, and the supportive policies that have been enacted,” said a senior official within the mining hierarchy. “It shows that with the right environment, Zimbabwe’s mineral endowment can be harnessed for national development.”

As the final deliveries for December are tallied, the story of 2025 is no longer one of potential but of resounding achievement. Zimbabwe’s gold sector has delivered a historic performance, surpassing its flagship target and etching a new chapter of productivity and growth for the national economy.

Gold buying prices in Zimbabwe per gram/ ounce, 10 December 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 10 December 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above127.54$3,966.94
SG 85% and above but below 90%126.19$3,924.76
SG 80% and above but below 85%124.84$3,882.77
SG 75% and above but below 80%123.49$3,840.79
Sample 5g and above but below 10g121.47$3,777.96
Fire Assay CASH128.22$3,997.33

 

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.

Gold buying prices in Zimbabwe per gram/ ounce, 9 December 2025

Gold buying prices in Zimbabwe per gram/ ounce, 9 December 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above127.24$3,957.61
SG 85% and above but below 90%125.90$3,915.93
SG 80% and above but below 85%124.55$3,873.94
SG 75% and above but below 80%123.20$3,831.95
Sample 5g and above but below 10g121.18$3,769.12
Fire Assay CASH127.92$3,978.76

 

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.

Budget Constraints Undermine Ministry of Mines’s Responsible Mining Audits Initiative

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Severe budget constraints at the Ministry of Mines and Mining Development are threatening to derail the government’s push for responsible mining, with the ministry warning it lacks the resources needed to effectively carry out the next phase of the Responsible Mining Audit (RMA), Mining Zimbabwe can report.

By Ryan Chigoche

This concern was raised by the Chief Government Mining Engineer (CGME), who appealed for increased resources as the ministry prepares to undertake a fully fledged third Responsible Mining Audit. His remarks come at a time when the government has been stepping up compliance monitoring, signalling a shift toward stricter enforcement in the sector.

Last year, inspectors visited 728 mining operations, up from 424 in 2023, a significant expansion that underscores the growing importance of the RMA initiative. The government also issued fines amounting to USD 680,000, reflecting a more assertive stance on regulatory enforcement.

However, with a third audit approaching, CGME Michael Munodawafa warned that the ministry’s ability to maintain this momentum is being severely undermined by inadequate financial support.

Speaking to Mining Zimbabwe on the sidelines of the RMA training workshop, he said more funding is urgently needed if the upcoming audit is to be carried out effectively.

“For the next audit, we’re going to have a challenge in the budget allocation. Our challenge is that we don’t have the tools of trade, the vehicles. Our work is fieldwork. We need the vehicles to go and do some fieldwork. The inspections, the responsible mining audits, those are some of the things that we do throughout the year as a ministry. But we’re not getting the budget support. It looks like the ministry is doing nothing about it, but it’s constrained because of the limited budget.”

“We need at least 30 vehicles to be shared throughout the provinces, but we are not getting that, and that is a big hindrance. With 30 vehicles, we’re going to be able to attend to at least 20,000 mining operations that can be inspected and audited at the same time. But at the moment, we are so outstripped. We are doing far less than that,” Eng Munodawafa added.

Munodawafa’s concerns echo long-standing frustrations within the ministry.

Despite the RMA’s growing significance, with audits conducted in 2023 and 2024 and a third planned for 2026, the Ministry of Mines continues to operate under tight fiscal constraints.

In 2025, it received ZiG 664.8 million (about US$22 million), and although the 2026 allocation rose slightly to ZiG 789 million (about US$26 million), the increase remains insufficient for nationwide oversight.

The ministry’s allocations continue to hover at around 1% of the national budget, despite mining contributing more than 60% of Zimbabwe’s export earnings.

This disparity has created a striking paradox. While Zimbabwe is increasing taxes and tightening fiscal measures on mining companies to capture more revenue, the ministry responsible for regulating and developing the sector continues to receive minimal operational support.

Government expects stronger compliance and enhanced oversight, yet the institutions meant to deliver these outcomes remain underfunded and overstretched.

As a result, chronic underfunding now threatens to stall a reform programme the government has repeatedly emphasised as key to improving compliance, reducing mineral leakages, and building a more accountable mining sector.

Eng Polite Kambamura Appointed Zimbabwe’s New Mines Minister Amid Sudden Cabinet Reshuffle

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In a swift cabinet reshuffle, President Emmerson Mnangagwa has appointed Eng Polite Kambamura as the new Minister of Mines and Mining Development, effective immediately, Mining Zimbabwe, can report.

By Rudairo Mapuranga

The appointment, announced by the Chief Secretary to the President and Cabinet, Dr M. Rushwaya, on December 8, 2025, elevates Kambamura from his previous role as Deputy Minister of the same portfolio.

This move follows recent reports and a formal press statement confirming the departure of former Minister Winston Chitando.

Eng Polite Kambamura is not a newcomer to the ministry or to politics. His profile indicates a career built on relevant technical and political experience:

Professional Background: He holds a Bachelor of Science degree in Mining Engineering from the University of Zimbabwe (2002) and recently graduated with a Master of Science in Natural Resources Management and Environmental Sustainability with distinction from Bindura University. Before entering politics, he worked as an engineer at mines in Zimbabwe and South Africa.

Political Career: Kambamura has been a Member of Parliament for Sanyati Constituency since August 2018 and has served as the Deputy Minister of Mines and Mining Development since September 2018. His tenure as deputy spanned the leadership of two ministers: Winston Chitando and Soda Zhemu.

The appointment signals a significant shift at the helm of one of Zimbabwe’s most critical economic ministries.

Outgoing Minister: Winston Chitando, who served as Minister on two separate occasions (2018–2023 and again from April 2024), was a prominent figure in promoting Zimbabwe’s mining sector globally. Just weeks ago, he was actively marketing the country’s mining potential at international forums.

A Ministry in Focus: The Ministry of Mines and Mining Development oversees a sector that is central to Zimbabwe’s economy. Recent government efforts have focused on banning raw lithium exports to encourage local processing, attracting over $1 billion in related investments, and launching major industrial projects like the Palm River Energy Metallurgical Special Economic Zone. The ministry also recently gained a second Deputy Minister, Caleb Makwiranzou, tasked with overseeing oil, gas, and strategic minerals.

Kambamura’s immediate promotion from within the ministry suggests a desire for policy continuity. His first-hand experience with ongoing reforms and key projects likely played a role in his selection. The new minister steps in at a time when Zimbabwe is pushing to:

  • Increase gold production to a target of 40 tonnes in 2025.
  • Advance its platinum and lithium sectors with major new mining and processing facilities.
  • Ensure mining activities translate into direct benefits for local communities through regulatory reforms.

The swift nature of this appointment aims to ensure stability and uninterrupted progress in the strategically vital mining sector.

Official Statement Released

The appointment was made official through a press statement dated December 8, 2025, signed by the Chief Secretary to the President and Cabinet, Dr M. Rushwaya, in accordance with the Constitution of Zimbabwe.

Zimbabwe Signals Royalty Review After Gold Sector Backlash

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In a significant shift following intense industry pressure, Zimbabwe’s Finance Minister, Professor Mthuli Ncube, has indicated the government is open to revising its recently proposed hike in gold royalties, Mining Zimbabwe can report.

By Rudairo Mapuranga

The move comes after the controversial budget measure triggered strong opposition from miners who warned it would cripple profits and investment in the critical sector.

Speaking at a post-budget meeting with business leaders in Harare, Ncube stated, “We have agreed on the issue of (gold) royalties, so you will see some tweaking there.” This comment marks the first official acknowledgement that the government may amend the proposal, which would see the top royalty rate double to 10 per cent for gold prices exceeding $2,501 per ounce.

The potential for revision follows weeks of heated debate. In his 2026 National Budget presentation on November 27, Minister Ncube announced a new, harmonised sliding-scale royalty structure for all gold producers.

The new structure: A royalty rate of 3 per cent when the gold price is below $1,200 per ounce, 5 per cent for prices between $1,201 and $2,500 per ounce, and a new top tier of 10 per cent for any price above $2,501 per ounce.

The government’s rationale: Ncube argued the change was necessary “to ensure the mining sector contributes a fair share of revenue to the Fiscus during periods of commodity price boom.” With gold trading persistently above $4,000 per ounce, well into the proposed 10 per cent bracket, the government aimed to capture more revenue from the windfall.

The announcement was met with immediate and forceful pushback from across the gold mining industry, from large-scale operators to small-scale miners.

Warnings from Major Producers

Caledonia Mining Corporation, a top producer, publicly stated the change would “result in a lower level of profitability and cash generation” at its Blanket Mine and forced a reassessment of its $484 million Bilboes project.

Analysts warned the hike could negatively impact investment flows at a time when Zimbabwe is seeking to grow the sector.

Alarms from Small-Scale Miners

The Zimbabwe Miners Federation (ZMF), representing artisanal and small-scale miners who contribute about 65 per cent of national output, urgently appealed to the government.

The ZMF argued the 10 per cent rate would deter new investment in exploration and development and sharply increase gold smuggling as miners seek better returns in neighbouring countries with lower taxes.

A Sense of Unfairness

A deeper analysis highlighted a core grievance: the new tiered system was seen as penalising the sector’s most compliant players. Large-scale miners, who already bear the full brunt of corporate taxes and other levies, would face the doubled royalty. In contrast, the artisanal sector, which is harder to tax and associated with significant leakage, largely operates under a separate, lower royalty framework. This created a perception of punishing formal, transparent operations while failing to address broader revenue losses from illicit flows.

What “Tweaking” Could Mean

Minister Ncube’s vague promise of “tweaking” leaves room for speculation on the final policy. Industry stakeholders are now watching closely for the government’s next move, which could take several forms:

Adjusting the price threshold: Raising the $2,501 per ounce trigger for the 10 per cent rate to a higher level.

Modifying the top rate: Reducing the proposed top royalty rate from 10 per cent to a more palatable figure for the industry.

Introducing offsets: Coupling the royalty change with other incentives to support mine development and expansion projects.

The gold royalty debate occurred alongside other significant mining tax reforms in the 2026 budget, including:

Changes to how capital expenditures are deducted for tax purposes.

New export taxes on unprocessed lithium, chrome and other minerals to encourage local beneficiation.

A landmark liberalisation of domestic gold ownership, allowing citizens to legally buy, hold, and trade certified gold bars, a move analysts believe could drastically reduce smuggling by bringing informal gold into the regulated economy.

While Minister Ncube’s statement has cooled immediate tensions, the gold sector remains in a holding pattern. The minister’s words suggest a compromise is being formulated, but its details will determine whether Zimbabwe can balance its urgent fiscal needs with the imperative to maintain a viable and attractive investment climate for its most important export industry.

All eyes will now be on the Treasury and Parliament as the budget moves through the approval process, with the industry hoping the promised “tweaking” will result in a sustainable and competitive royalty regime.

Gold buying prices in Zimbabwe per gram/ ounce, 8 December 2025

Gold buying prices in Zimbabwe per gram/ ounce, 8 December 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above128.91$4,009.84
SG 85% and above but below 90%127.54$3,965.51
SG 80% and above but below 85%126.18$3,922.18
SG 75% and above but below 80%124.82$3,878.94
Sample 5g and above but below 10g122.77$3,819.13
Fire Assay CASH129.59$4,031.04

 

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.