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Gold buying prices in Zimbabwe per gram/ ounce, 24 February 2026

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Gold buying prices in Zimbabwe per gram/ ounce, 24 February 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above157.924,911.86
SG 85% and above but below 90%156.254,859.92
SG 80% and above but below 85%154.584,807.98
SG 75% and above but below 80%152.914,756.04
Sample 5g and above but below 10g150.404,677.94
Fire Assay CASH158.764,937.99

 

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.

ZIDA Urges Swift Rollout of E-Cadastre System as Investor Demand for Clarity Grows

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The Zimbabwe Investment Development Agency (ZIDA) is urging Government and stakeholders to fast-track the full development of the E-Cadastre system, underscoring its growing importance to serious investors, Mining Zimbabwe can report.

By Ryan Chigoche

For years, the E-Cadastre system has been mooted as a critical reform measure for the mining sector.

At its core, a cadastre system clearly and unambiguously identifies ownership of mining tenements and claims across the country, information that is fundamental for investor confidence.

Despite its significance, progress has been slow. The system has long been affected by delays, leaving the sector reliant on manual records and outdated maps.

However, momentum appears to be building. Last week, Government indicated that the platform is set to be launched this year following inquiries from prospective investors at the recently concluded Mining Indaba.

Speaking to Mining Zimbabwe at a recent event in the capital, ZIDA Chief Executive Officer Tafadzwa Chinamo said the system must now be prioritised, given its strategic role in supporting mining sector growth.

“We don’t want a situation where investors are not sure of the legitimacy and authenticity of the claim that they purport to be holding. So rolling this out, I think the fact that we identified its need in 2014 means that that is where the world is going. So in this day and age, serious investors want that clarity. They want, at the click of a button, to know where their claim stands and ends.”

“Relying on old maps or old information, or just the plan, which is disputed, is also a problem. I think we’re talking to the ministry, to the players, and everyone else involved in this. The last thing that we want is for there to be so many cases in the courts where people are disputing, or the minister is being sued for allocating, perhaps, a claim to another person. So that system is very important,” Chinamo said.

His remarks reflect broader concerns within the industry about security of tenure and dispute resolution, both of which are central to attracting long-term capital.

The E-Cadastre system, designed to enhance transparency, minimise disputes, and modernise the administration of mining claims, has been under development for more than a decade.

Government initially introduced the idea as part of wider mining sector reforms, but implementation was hampered by data verification challenges, equipment requirements, and funding constraints.

In July 2025, authorities moved to accelerate the process by directing all mining title holders to submit survey-grade geographic coordinates. The measure was intended to ensure precise mapping and digital capture of claims, strengthen tenure security, and reduce boundary-related conflicts.

This ongoing data consolidation exercise represents a key preparatory stage for the platform’s rollout. It also positions Zimbabwe to align its cadastre framework more closely with regional and international best practice.

While previous briefings suggested that implementation was imminent, a firm launch date had not been communicated. The latest indications from Government, however, suggest the project has advanced beyond the planning phase. With funding reportedly secured and core infrastructure now in place, the remaining work is largely technical ahead of full deployment.

Once operational, the digital cadastre is expected to streamline mining title administration, reduce litigation, improve transparency, and bolster investor confidence, reinforcing Zimbabwe’s broader efforts to modernise and digitise the management of its mineral resources.

Harmonised regulation, PPPs key to unlocking SADC energy capital — Moyo

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Energy and Power Development Minister July Moyo has called for stronger public-private partnerships (PPPs) and deeper regional integration to accelerate renewable energy expansion across the Southern African Development Community (SADC), Mining Zimbabwe can report.

By Ryan Chigoche

His remarks come at a time when power demand from productive sectors such as mining continues to intensify across the region.

The mining sector, one of Zimbabwe’s largest electricity consumers, relies heavily on stable and affordable power for underground mining, mineral processing, and beneficiation.

As mineral output expands across gold, platinum, and lithium operations, energy security has increasingly become central to sustaining production and driving value addition.

Against this backdrop, Minister Moyo, officially welcoming delegates to the second SADC Sustainable Energy Week in Victoria Falls on Monday, said collective regional action was critical to addressing energy security gaps and unlocking economic growth.

“As a region, we are grappling with the issue of renewable energy expansion, and as a country, we strongly believe in regional integration and the role that both the public and the private sector play in all of it,” said Minister Moyo.

Building on the need for collaboration, he underscored the importance of regulatory alignment across member states, arguing that harmonised systems would strengthen investor confidence and position SADC as a competitive and secure energy investment destination.

“Realising also the importance of regulation, we need to strengthen our regulatory systems through synchronising laws, tariffs, and the application of the system. This will strengthen us as SADC and will make us a regional bloc, as we are superintended by the Southern African Power Pool. A strengthened bloc is easily identifiable as a safe hub for local and international investments and opportunities.”

His remarks resonate strongly with mining and industrial players who continue to cite power reliability as a key determinant of expansion plans. Increased mineral production and beneficiation require both dependable baseload supply and accelerated renewable integration.

In that context, Minister Moyo urged delegates to use the week-long platform not merely for dialogue, but to forge practical partnerships capable of unlocking bankable and scalable energy projects across the region.

Held under the theme Driving Regional Economic Growth through Clean Energy and Energy Efficiency, the high-level gathering seeks to fast-track the transition to sustainable energy systems while reinforcing industrialisation and regional trade.

The programme features plenary sessions, bilateral engagements, and field visits designed to catalyse regional economic growth through coordinated energy initiatives.

During the ministerial segment, Zimbabwe is set to present its Energy Compact alongside other regional ministers. Minister Moyo described the compact as the country’s energy sector blueprint aligned with Vision 2030 and the drive towards attaining upper middle-income status.

Even as the region pushes renewables, he acknowledged that conventional power sources will remain part of the energy mix.

“Our actions and plans as a region must recognise these energy sources, as well as energy efficiency efforts,” he said, adding that efficient energy use across industry and mining is essential to maximise the benefits from available resources.

The event is being hosted by Zimbabwe’s Ministry of Energy and Power Development in partnership with the SADC Centre for Renewable Energy and Energy Efficiency (SACREEE), reinforcing regional cooperation on clean energy deployment.

As proceedings conclude later this week, Zimbabwe will hand over the hosting baton to Eswatini, represented by Minister of Natural Resources and Energy, His Royal Highness Prince Lonkhokhela Dlamini, with delegates also expected to tour selected sustainable energy sites in Victoria Falls.

Caledonia Lines Up US$150m Local Bank Facility to Drive Bilboes Development

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Caledonia Mining Corporation Plc has appointed Stanbic Bank Zimbabwe and CBZ Bank as co-lead arrangers for an interim funding facility of up to US$150 million to support development of the Bilboes gold project, Mining Zimbabwe can report.

By Ryan Chigoche

The appointment follows a funding process launched in November 2025 to secure backing from a consortium of Zimbabwean and South African commercial banks.

After evaluating submissions and funding alternatives, Caledonia selected Stanbic and CBZ to structure and arrange the facility. The interim funding package is expected to be in place by mid-2026, subject to customary lender approvals.

The facility forms part of a broader capital strategy designed to underpin Caledonia’s next phase of growth.

It complements proceeds from a recent US$150 million convertible notes offering, a gold price hedging programme, and strong internal cash generation from Blanket Mine, which continues to produce over 75,000 ounces annually.

“The appointment of Stanbic and CBZ as co-lead arrangers represents an important step in executing the funding strategy we set out in January. We believe this facility, together with our hedging programme, the proceeds from the Convertible Notes Offering, and internal cash generation from Blanket Mine, will provide additional financial flexibility as we continue to advance our growth plans,” Chief Executive Officer Mark Learmonth commented on the development.

Blanket’s consistent performance has effectively positioned it as the financial anchor of the group’s expansion drive. Stable production and widening margins, supported by elevated gold prices, are strengthening free cash flow generation and enhancing Caledonia’s balance sheet at a critical stage of project development.

Against this backdrop, Bilboes represents the company’s principal growth lever.

Once developed at scale, the project is expected to materially lift group output toward a mid-tier production profile.

Previous technical studies have outlined a long-life, multi-open-pit operation capable of delivering well over 150,000 ounces per annum at steady state, more than doubling current consolidated production.

Structuring part of the financing through Zimbabwean banks is also strategically significant.

It reduces reliance on offshore project finance, diversifies capital sources, and aligns domestic financial institutions with the project’s long-term success.

When combined with hedging and convertible instruments, the funding mix balances debt exposure, dilution risk, and commodity price volatility in a high-price gold environment.

If the interim facility closes as anticipated and development momentum is maintained, Caledonia’s production profile could shift materially over the next three to four years, marking its transition from a single-asset operator into a multi-asset, growth-oriented gold producer anchored in Zimbabwe.

Gold buying prices in Zimbabwe per gram/ ounce, 23 February 2026

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Gold buying prices in Zimbabwe per gram/ ounce, 23 February 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

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

CategoryPrice ($/g)Price ($/oz)
SG 90% and above156.134,856.19
SG 85% and above but below 90%154.474,804.56
SG 80% and above but below 85%152.824,753.24
SG 75% and above but below 80%151.174,701.92
Sample 5g and above but below 10g148.694,624.78
Fire Assay CASH156.954,881.69

 

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.

‘Go Ahead and Occupy the Space’: President Urges Youth to Seize Mining Opportunities Under Vision 2030

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President Emmerson Mnangagwa has issued a powerful challenge to young Zimbabweans to aggressively occupy the mining sector and other productive areas of the economy, declaring that the country’s development trajectory under Vision 2030 demands a generation of diligent, focused, and patriotic youth, Mining Zimbabwe can report.

By Rudairo Mapuranga

Addressing over 30,000 young people from all ten provinces at the National Youth Day celebrations held at Igava Training Centre in Marondera, Mashonaland East Province, the President made it unequivocally clear that the future of Zimbabwe’s mining industry lies in the hands of its youth.

“The targets in our National Development Strategy 2 and Vision 2030 demand young people who are diligent, focused, hard-working, and patriotic. Go ahead and occupy the space,” President Mnangagwa declared to thunderous applause.

He specifically challenged the youth to “deliver more results in agriculture, mining, tourism, manufacturing, among SMEs, as well as in the science, technology, and innovation arena.”

The President expressed unwavering confidence in the younger generation’s capacity to drive the nation’s industrial transformation. “I have faith and confidence that the current crop of young people in our country is up to the task,” he said.

Speaking under the theme “Youth Agenda for Transformation,” President Mnangagwa applauded the accomplishments and milestones already achieved by young people across various economic sectors.

“Meanwhile, the accomplishments and milestones realised by the youth in various fields confirm that you are indeed becoming architects of Zimbabwe’s future,” he stated.

He emphasised that under his Administration, young people are increasingly embracing projects and programmes for climate-smart agriculture, infrastructure development, digital technologies, and entrepreneurship.

“You are not merely spectators in our ongoing development journey; you are active participants and are demonstrating remarkable leadership. What we are witnessing across the country reflects that the quest to Vision 2030 of becoming an empowered and prosperous upper middle-income society is on course. Well done,” the President added.

Across Zimbabwe’s mining landscape, young entrepreneurs are already heeding the President’s call, building substantial operations that span multiple minerals and value chains, proving that the Second Republic’s empowerment policies are translating into tangible wealth creation.

In the lithium sector, Nyasha Chido, through his company Ionosphere Investments, has established a significant lithium processing plant in Harare’s Bluffhill industrial area. The facility produces lithium concentrates with a targeted annual output of 36,000 tonnes, with plans to scale up to 70,000 tonnes, positioning Ionosphere among the country’s top four lithium producers. The company has secured full export authorisation from the Ministry of Mines and Mining Development and operates across multiple minerals, including tin, tantalum, and beryl.

Ionosphere’s integrated approach, from mining to processing to export, demonstrates the sophisticated level at which young Zimbabweans are now participating in the critical minerals value chain. The company has explicitly supported the government’s ban on raw lithium exports, aligning itself with the national beneficiation agenda.

In the chrome sector, Darel Mubu has emerged as a leading young industrialist. Through his company, BlackBull Mining Services, Mubu provides specialised consultancy services, including plant design, optimisation, and project management for small-scale miners. Beyond consultancy, he has established a chrome mining and processing facility in Mutorashanga, one of Zimbabwe’s premier chrome-producing regions. His operation focuses on chrome washing and beneficiation, ensuring that the mineral leaves Zimbabwe in a processed state rather than as raw ore.

Mubu also serves as Vice President Business and International for Junior Chamber International Kumalo (JCI) and works closely with organisations like the Association of Junior Mining Professionals of Zimbabwe (AJMPZ) to build youth capacity in Zimbabwe’s mining economy. His dual role as operator and capacity builder exemplifies the holistic approach young Zimbabweans are bringing to the sector.

The Young Miners Foundation, with which Mubu is also associated, has acquired a 300-hectare chrome concession in Mvurwi and launched the “Chrome Processing Initiative” project in collaboration with the Zimbabwe Artisanal Miners Association (ZAMA). The project aims to create employment for at least 500 people while promoting structured, professional chrome beneficiation.

Copper Rebound Anchors CAFCA’s Q1 Performance as Export Demand Surges

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A strong recovery in copper-based products underpinned first-quarter performance at CAFCA Limited, with the segment driving a 3% year-on-year increase in total sales volumes for the period ended 31 December 2025, Mining Zimbabwe can report.

By Ryan Chigoche

Copper volumes climbed 21% compared to the same quarter last year, reflecting firmer demand from construction, mining, and other infrastructure-linked sectors.

This rebound reshaped the group’s sales mix and helped cushion a 25% decline in aluminium volumes, positioning copper as the central growth lever during the period.

The recovery in copper demand was further amplified by export momentum. Volumes into regional markets surged 77% following the restructuring of CAFCA’s distribution model and the discontinuation of the consignment stock system.

The changes enhanced delivery agility and reduced lead times, allowing the company to respond more effectively to rising cross-border demand for copper cables.

At home, performance was more mixed. Retail volumes rose 35%, supported by stronger integration with channel partners and renewed customer focus in factory outlets. Commercial volumes edged up 1%, remaining broadly stable.

However, utilities demand contracted sharply by 42% as liquidity constraints in the sector limited offtake, partially offsetting gains achieved in copper-led segments.

Operational adjustments mirrored the shift in demand. Overall production volumes increased 13% year-on-year as the group aligned output with stronger copper sales. To manage price volatility and mitigate supply chain risks, CAFCA adopted a front-loaded procurement strategy, ending the quarter with copper raw material stocks 154% above the prior comparative level.

Efficiency improvements across the manufacturing base reinforced the operational response.

First-pass yield advanced 35%, fault cards declined 42%, and equipment breakdown hours dropped 25%, signalling improved reliability.

While no power outages were recorded, voltage fluctuations resulted in 324 lost production hours, up from 99 hours previously. In response, the company is commissioning a rooftop solar plant expected to come online at the end of February 2026.

Financial performance reflected the copper-led recovery. Revenue rose 29% year-on-year, supported by higher volumes and firmer copper prices, while operating profit increased 7% following earlier cost optimisation initiatives.

With copper demand regaining momentum and export channels strengthening, CAFCA is positioning its core copper portfolio at the centre of anticipated infrastructure growth and regional market expansion, supported by continued factory modernisation efforts.

Gold buying prices in Zimbabwe per gram/ ounce, 20 February 2026

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Gold buying prices in Zimbabwe per gram/ ounce, 20 February 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

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

CategoryPrice ($/g)Price ($/oz)
SG 90% and above151.864,723.38
SG 85% and above but below 90%150.254,673.30
SG 80% and above but below 85%148.644,623.22
SG 75% and above but below 80%147.044,573.46
Sample 5g and above but below 10g144.634,498.50
Fire Assay CASH152.664,748.26

 

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.

Shuntai Investments Targets 40% of Zimbabwe’s Cement Market by 2027

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Emerging cement manufacturer Shuntai Investments is positioning itself to become the dominant force in Zimbabwe’s construction sector, with ambitious plans to capture 40 per cent of the national cement market by the end of 2027, Mining Zimbabwe can report.

By Rudairo Mapuranga

According to the company’s General Manager, Lee Xiandong, during a site visit and interview at the company’s flagship plant in Chegutu, once fully operational, Shuntai’s aggressive expansion strategy across the country will see total cement production exceed 3 million tons per annum, solidifying its place as the largest cement manufacturer in the nation.

At the heart of this growth is the Chegutu cement plant, which is currently 65 per cent complete. Mr. Xiandong outlined that the installation of machinery is at the 50 per cent stage, with commissioning targeted for the end of June this year. The plant boasts a clinker production capacity of 1,500 to 1,800 tons per day and an 800,000-ton-per-annum cement production line.

In addition to cement, the Chegutu site features a 400,000-ton limestone production line. To ensure energy independence, the company also plans to construct a 30-megawatt thermal power plant immediately after the cement line is commissioned.

Nationwide Footprint

Beyond Chegutu, Shuntai has outlined a comprehensive national rollout:

Zvishavane/Belingwe: A 6,000-ton-per-day cement clinker line, a 200,000-ton limestone line, a 500,000-ton cement grinding station, and a 50-megawatt power station.

Bulawayo and Mutare: 500,000-ton cement production lines each.

Harare: A 1,000,000-ton cement production line.

By the end of 2027, the company projects total production to surpass 3 million tons of cement and 600,000 tons of lime.

To date, Shuntai has injected US$80 million into the Chegutu project, with total investment expected to reach US$120 million upon completion of the current phase. Currently employing over 300 workers, primarily in civil works, the company plans to retain and train these individuals for specialised roles. Once all national projects are operational, Shuntai is expected to create more than 1,000 jobs for local communities.

Despite the positive trajectory, Mr. Xiandong highlighted critical challenges that require stakeholder intervention. He noted that delays from the Mines Office in approving quarry licences for raw limestone are hindering progress. Furthermore, negotiations with local farmers for the construction of 88kV power lines are only halfway concluded, threatening the plant’s power supply.

A significant concern raised was regarding the Environmental Impact Assessment (EIA) certificate conditions. Mr. Xiandong pointed out that certain standards, such as those for salt and nitrate trade, are set “above international standards” and are nearly impossible to achieve. He noted that requirements for continuous online monitoring systems are not yet standard in African cement plants, even in more industrialised nations like South Africa. He appealed for government intervention to renegotiate these indices to realistic levels.

Despite these hurdles, Shuntai has fostered strong ties with local authorities. The company has engaged in corporate social responsibility initiatives, including donating chairs to the District Development Coordinator (DDC), providing a front loader to the municipality for waste management, and supporting local councillors’ projects.

Regarding the market, Mr. Xiandong confirmed that all raw materials, including limestone from nearby mines and coal, will be sourced locally. He assured that while final pricing depends on market dynamics, Shuntai’s entry will guarantee prices lower than current market rates.

“One thing is very sure,” he stated, “the price will definitely be lower than the current market price.”

With a commitment to prioritising local supply before considering exports, Shuntai Investments is on track to reshape Zimbabwe’s cement landscape, bringing competition, lower prices, and massive industrial capacity to the fore.

Contango to raise £5mn for Muchesu coal expansion, debt-free transition

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London-listed Contango Holdings is moving to raise £5 million through a strategic share subscription designed to recapitalise the business, eliminate debt, and reinforce its financial position as operations at the Muchesu Coal Project continue to strengthen, Mining Zimbabwe can report.

By Ryan Chigoche

The proposed capital will be provided by Pacific Goal Investments (PGI) and Huo Investments, which plan to subscribe for a combined 450,450,451 new ordinary shares.

PGI is jointly owned by Wencai Huo and Liu Jun, long-term strategic partners focused on unlocking value from Zimbabwe’s mineral resources.

The investment is expected to fully repay shareholder loans, leaving the company debt-free and better positioned to begin paying dividends as royalty income from Muchesu grows.

Priced at a 39 percent premium to the February 12, 2026, mid-market close, the transaction signals strong investor confidence in both the project and the company’s future prospects.

Following completion, PGI is expected to hold about 29.7 percent of the enlarged share capital, while Huo Investments will control roughly 20.4 percent, giving the two strategic investors a combined stake of close to 50 percent.

Commenting on the development, Chief Executive Danny dos Santos said the transaction marks a turning point as the Muchesu operation continues to mature.

“I am delighted to announce this conditional subscription at a healthy premium to current trading levels, which will recapitalise the company and enable us to repay all existing shareholder loans. This will leave the company debt-free and now in a position to pay dividends to shareholders as royalty income grows at Muchesu.”

Situated in Binga, the Muchesu project hosts an estimated 1.3 to 2 billion tonnes of coal resources and has increasingly become central to Zimbabwe’s energy and industrial ambitions.

Since its commissioning in August 2023, the project has supported the export of high-grade coking coal, attracted foreign investment, and positioned itself as a potential contributor to domestic power generation.

Its broader economic impact is expected to extend across Matabeleland North through employment creation, infrastructure development, and the stimulation of downstream industries such as power generation and mineral processing.

The restructuring of the asset advanced further in January when PGI was formally registered as the project operator following approval by the Reserve Bank of Zimbabwe.

The development highlights coal’s growing strategic role in Zimbabwe’s mining-to-energy value chain, as large-scale production in the province is expected to strengthen energy security, reduce reliance on imported electricity, and supply feedstock for thermal power and coal-to-energy projects.