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Gold buying prices in Zimbabwe per gram/ ounce, 7 April 2026

Gold buying prices in Zimbabwe per gram/ ounce, 7 April 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above138.834,318.70
SG 85%–90%137.364,273.80
SG 80%–85%135.894,224.00
SG 75%–80%134.424,178.90
Sample 5–10g132.214,110.50
Fire Assay CASH139.564,343.20

 

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.

Namib Minerals’ Gold Production Drops to 25,000 Ounces in 2025 as How Mine Faces Lower Grades

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Namib Minerals saw its gold production fall to about 25,000 ounces in 2025, as lower grades at How Mine in Zimbabwe limited output. The decline has increased reliance on the How Mine expansion and the planned Redwing Mine restart to boost future production, Mining Zimbabwe reports.

The Nasdaq-listed miner posted US$82.6 million in revenue for the year, down from US$85.9 million in 2024, as lower output offset gains from higher gold prices.

Despite weaker production, Namib managed costs effectively. Total production costs fell 4% to US$37 million, supported by lower labour, power, and consumables costs. However, reduced volumes pushed cash costs (C1 costs) higher to US$1,653 per ounce, up from US$1,150 in 2024.

To reverse the trend, Namib is expanding milling capacity at How Mine to 55,000 tonnes per month from 40,500 tonnes, with the upgraded plant expected to come online in the second half of 2026. The company is also refining grade control, mine planning, and underground discipline to stabilise ore quality and improve production consistency.

Redwing Mine is also set for a restart. Dewatering began on January 29, 2026, and is expected to take eight months. Namib is evaluating non-dilutive funding options to support the restart.

If both projects stay on track, How Mine production is expected to reach 28,000–31,500 ounces in 2026, with all-in sustaining costs projected at US$2,400–2,700 per ounce and adjusted EBITDA between US$50 million and US$62 million, based on a gold price of US$4,500 per ounce.

Chief Executive Officer Tulani Sikwila, appointed in March, said:
“We continue to make disciplined progress against our strategic roadmap to expand production.” Sikwila is leading Namib’s effort to build a multi-asset mining business in Zimbabwe, positioning the company for growth in the premium gold market.

Zimbabwe Diamonds Take Dubai by Storm as 500,000 Carats Draw Global Buyers

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Zimbabwe’s diamond sector is surging back into the global spotlight after a massive 500,000-carat showcase in Dubai triggered strong international demand, drawing top buyers and signalling a powerful comeback for the country’s high-value gemstone industry.

The endorsement signals Zimbabwe’s growing influence in the global diamond trade, as the country strengthens international partnerships and shifts focus toward high-value production.

ZCDC, operating under the Mutapa Investment Fund, recently appointed Dubai-based Trans Atlantic Gem Sales (TAGS) as its second international tender house. The company now markets its diamonds through TAGS and Taurum Group, while reserving 10% of output for local beneficiation in line with Zimbabwean law.

DMCC Executive Chairman Sultan Ahmed Bin Sulayem praised the development, highlighting strong global demand for Zimbabwean stones.

“As one of the most active participants in the Dubai Diamond Exchange, TAGS remains a cornerstone of our ecosystem, delivering the scale, transparency, and professionalism global markets expect,” he said.

He added that recent tenders featuring Zimbabwean diamonds recorded strong attendance and competitive pricing, underscoring sustained demand for high-quality rough stones.

Dubai Strengthens Its Grip as Global Diamond Hub

Dubai has rapidly cemented itself as the world’s leading rough diamond trading hub, with more than 1.06 billion carats traded over the past five years. Its rise continues to reshape global trade flows, offering Zimbabwe direct access to key markets in Asia, particularly India and China.

For Zimbabwe, this partnership delivers clear advantages: efficient market access, a transparent trading environment, and stronger positioning in premium segments.

Strong Demand for High-Quality Stones

Recent tenders have confirmed robust demand for Zimbabwean diamonds, particularly larger stones above 10 carats and those in the 5–10 carat range. These categories continue to attract premium prices, reinforcing confidence in ZCDC’s production quality.

The company’s strategic pivot toward kimberlite exploration is already yielding results, targeting higher-value stones that face less competition from synthetic alternatives.

While laboratory-grown diamonds are gaining ground in lower-end markets, natural diamonds—especially premium stones—continue to command strong global demand due to their rarity and authenticity.

Positioning for a Premium Market Future

Zimbabwe is increasingly focusing on quality over volume, aligning with global consumer trends that prioritise traceability, ethical sourcing, and origin.

As a participant in the Kimberley Process Certification Scheme, Zimbabwe ensures its diamonds are conflict-free and fully traceable—an essential requirement for access to major markets such as the United States and the European Union.

ZCDC is also exploring innovative models to include local communities in ownership structures, a move aimed at promoting inclusive growth while maintaining compliance and transparency.

Industry Outlook Remains Positive

The global diamond market is entering a phase of rebalancing. Supply is tightening as major mines near depletion, while demand for high-quality natural diamonds remains steady.

This dynamic is expected to support prices in the medium to long term, placing Zimbabwe in a strong position to benefit—particularly as it focuses on premium production.

ZCDC’s ongoing investments, including the Area 3 Diamonds Processing Plant Expansion scheduled for completion in 2026, further signal confidence in the sector’s future. The expansion is expected to boost recovery rates, increase foreign currency earnings, and create jobs.

A Strategic Shift Paying Off

Zimbabwe’s deepening ties with Dubai reflect a broader strategic shift toward high-value markets and modern trading platforms.

With strong international backing, rising demand for premium stones, and a clear focus on quality and transparency, Zimbabwe’s diamond sector is positioning itself as a key player in the evolving global market.

Shepherd Manamike elected the Mine Rescue Association of Zimbabwe (MRAZ) President

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GWERU, ZIMBABWE – Shepherd Manamike has been elected President of the Mine Rescue Association of Zimbabwe (MRAZ) at the association’s elective Annual General Meeting held in Gweru, marking a key leadership transition in the country’s mining safety sector.

Manamike takes over from Professor Alfred Chinyere, who has led the association during a period of increased focus on mine safety, emergency preparedness, and coordinated rescue efforts across Zimbabwe’s mining industry.

New Leadership for a Growing Mining Sector

Manamike will lead the MRAZ Working Party for the 2026–2028 term, supported by a team of experienced industry professionals drawn from leading mining institutions.

The newly elected working committee is as follows:

  • President: Shepard Manamike (Mimosa Mine)
  • Secretariat: D. D. Matyanga (Chamber of Mines)
  • National Coordinator: Patrick Hill (Blanket Mine)
  • Non-Donning Teams National Coordinator: Charles Ganduri (Zimplats Selous Metallurgical Complex)
  • South Zone Coordinator – Donning Teams: Shastry Mandoreba (Valterra Unki Mine)
  • West Zone Coordinator – Donning Teams: Shiringinyai Munotengwa (HCCL)
  • North Zone Coordinator – Donning Teams: Jonathan Mukono (Zimplats Ngezi Mining Division)
  • National Publicity Coordinator: Timothy Mapinde (Mutapa Gold Resources – Jena Mines)
  • National Trainer: Michael Ruzvidzo (AA Mines)

A Critical Transition in Mine Rescue Leadership

The election attracted key stakeholders from across Zimbabwe’s mining sector and comes at a time when the need for strong mine rescue systems, safety compliance, and emergency response readiness is becoming increasingly important.

MRAZ plays a central role in coordinating rescue operations, training mine rescue teams, and promoting best practices in handling underground emergencies such as fires, collapses, and hazardous gas incidents.

From Zone Coordinator to President

Manamike’s elevation to the presidency follows his previous role as South Zone Coordinator for Donning Teams in the outgoing 2024–2026 working party. His progression reflects continuity in leadership and deep operational experience within mine rescue structures.

Outgoing Leadership

The outgoing working party (2024–2026) was led by:

  • President: Prof. Alfred Chinyere (MGR – Freda Rebecca Mine)
  • Secretariat: D. D. Matyanga (Chamber of Mines)
  • National Coordinator: Ronald Bhunu (Zimplats Ngezi Mining Division)
  • Non-Donning Teams National Coordinator: Charles Ganduri (Zimplats Selous Metallurgical Complex)
  • South Zone Coordinator – Donning Teams: Shepard Manamike (Mimosa Mine)
  • West Zone Coordinator – Donning Teams: Patrick Hill (Blanket Mine)
  • North Zone Coordinator – Donning Teams: Anselm Mapako (MGR – Freda Rebecca)
  • National Publicity Coordinator: Emmanuel Chigwa (MGR – Mining Contracts and Projects)
  • National Trainer: Michael Ruzvidzo (AA Mines)

Outlook: Raising the Bar on Mine Safety

With Zimbabwe’s mining sector expanding rapidly—particularly in gold, lithium, and platinum—the role of MRAZ is becoming increasingly critical.

As mining activity intensifies, the new leadership is expected to play a pivotal role in ensuring that safety systems evolve in line with industry growth.

Chinese Lithium Investors Deny Smuggling, Blame Small Operators as Zimbabwe Tightens Export Controls

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Chinese lithium mining companies operating in Zimbabwe have dismissed allegations of smuggling, insisting they have no incentive to engage in illicit trade and are fully committed to supporting government efforts to curb mineral leakages.

By Rudairo Mapuranga

A senior official at the Embassy of the People’s Republic of China in Zimbabwe says legitimate investors are not responsible for the country’s lithium smuggling challenges, instead pointing to small, unqualified operators as the main culprits.

Speaking to Mining Zimbabwe, Second Secretary and Economic and Commercial Counsellor, Liu Yang, addressed concerns following the government’s recent ban on raw lithium exports.

“Legitimate enterprises have no need to engage in smuggling. Instead, small, unqualified enterprises exploit the documents of legitimate companies to conduct smuggling,” Liu said.

Formal Investors Focused on Long-Term Stability

Liu explained that established lithium mining companies operate with proper export documentation and are focused on protecting long-term investments rather than risking heavy penalties through illegal activities.

“During my investigation, large enterprises indicated they have proper export documents, no motive to smuggle, and cannot afford the penalties associated with being caught. They are more focused on safeguarding the investments they have already made,” he added.

Government Urged to Strengthen Enforcement

Liu emphasised that authorities have multiple opportunities to intervene and curb smuggling across different stages of the export chain.

He noted that formal mining companies are willing to cooperate with the government to eliminate illegal mineral flows, reinforcing the view that the problem lies with smaller, unregulated operators.

Zimbabwe Bans Raw Lithium Exports

On 25 February 2026, the government announced the immediate suspension of all raw mineral and lithium concentrate exports, citing widespread leakages, licence abuse, and failure to declare valuable by-products.

Ministry of Mines Permanent Secretary Pfungwa Kunaka told Parliament that investigations revealed significant losses of rare earth minerals, tantalum, and niobium, which were being exported without proper declaration.

$2 Billion Investments at Stake

Chinese investors, who dominate Zimbabwe’s lithium sector with investments exceeding US$2 billion over the past three years, are positioning themselves as partners in enforcement efforts rather than targets.

Liu’s remarks highlight a growing distinction between large, compliant mining companies and smaller operators accused of abusing temporary export permits. Government findings indicate that some licences were used multiple times by different players, facilitating leakages.

Outlook: Tightening Controls in a High-Stakes Sector

As Zimbabwe moves to tighten control over its lithium exports, the focus is shifting toward strengthening compliance, closing regulatory loopholes, and ensuring that mineral wealth is fully accounted for.

The developments come at a time when global demand for lithium continues to surge, placing Zimbabwe at the centre of the energy transition supply chain.

Dallaglio Profit Soars 147% to US$104m, Driving Padenga’s Strongest Year Since Acquisition

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Dallaglio Investments has delivered a record-breaking performance, with profit surging 147% to nearly US$104 million, as rising gold prices turned the mining unit into the main driver of Padenga Holdings’ strongest financial year since entering the sector.

By Ryan Chigoche

Dallaglio’s explosive growth highlights the increasing dominance of gold mining within Padenga Holdings, following the group’s strategic shift away from crocodile farming.

Gold Prices Fuel Massive Profit Growth

For the financial year ending December 2025, Dallaglio’s pretax profit jumped 147% to $103.99 million, up from $42.18 million the previous year, according to Padenga’s annual results.

Revenue from the mining division climbed 30% to $251.06 million, contributing a massive 94% of the group’s total sales.

At group level, Padenga’s revenue rose 26% to $265.82 million, while profit before tax from continuing operations increased 114% to $93.88 million.

The strong performance was largely driven by a sharp rise in gold prices, with Dallaglio achieving an average price of $3,448 per ounce, compared to $2,386 in 2024.

From Crocodiles to Gold: A Strategic Shift Paying Off

Padenga Holdings initially acquired a controlling 50.1% stake in Dallaglio in August 2019 as part of its diversification strategy. In 2025, the group completed the acquisition of the remaining 49.9%, making Dallaglio a wholly owned subsidiary.

The latest results confirm that mining has now become Padenga’s core business.

Strong Cash Flow and Debt Reduction

Dallaglio generated $70.75 million in operating cash flow during the year, a 68% increase from $42.08 million in 2024. This enabled the company to fully fund its capital expenditure internally while significantly reducing debt.

Borrowings at the mining unit dropped 45% to $19.22 million by year-end, while group net interest costs declined 55% to $4.07 million.

Expansion Projects to Drive Future Growth

Padenga is leveraging its stronger balance sheet to expand operations across its key mining assets.

At Pickstone Peerless Mine, the third phase of an underground expansion project was commissioned in December. The upgrade enables access to deeper ore bodies and opens new exploration drilling zones.

The company also expects to begin generating power from a 4.9-megawatt solar plant at Pickstone in the first quarter, following delays related to contracting and logistics.

At Eureka Mine, a gravity circuit upgrade is scheduled for commissioning in the second quarter. In addition, a separate 5-megawatt solar project is expected to start supplying power in the first quarter.

Outlook: Gold Driving Zimbabwe’s Mining Momentum

With gold prices remaining strong and operational efficiencies improving, Dallaglio is now firmly positioned as the growth engine of Padenga Holdings.

The results underscore a broader trend in Zimbabwe’s mining sector, where gold continues to dominate as a key driver of revenue, investment, and economic growth.

Gold buying prices in Zimbabwe per gram/ ounce, 2 April 2026

Gold buying prices in Zimbabwe per gram/ ounce, 2 April 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above137.694,282.64
SG 85% and above but below 90%136.234,237.23
SG 80% and above but below 85%134.774,191.83
SG 75% and above but below 80%133.324,146.72
Sample 5g and above but below 10g131.134,078.60
Fire Assay CASH138.424,305.34

 

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, 1 April 2026

Gold buying prices in Zimbabwe per gram/ ounce, 1 April 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above140.204,360.71
SG 85% and above but below 90%138.724,314.68
SG 80% and above but below 85%137.234,268.33
SG 75% and above but below 80%135.754,222.30
Sample 5g and above but below 10g133.524,152.94
Fire Assay CASH140.944,383.73

 

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.

China’s Lithium Companies Back Zimbabwe Export Ban as Kamativi Mine Reaches 2.3 Million Tonne Capacity

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  • China’s Lithium Companies Ready to Cooperate with Zimbabwe Government

Chinese lithium mining companies operating in Zimbabwe are fully prepared to cooperate with government authorities on verification, sampling and investigations, the Economic and Commercial Counsellor at the Embassy of the People’s Republic of China in Zimbabwe has said.

By Rudairo Mapuranga

Speaking at a breakfast meeting on Zimbabwe’s export ban on raw minerals and lithium concentrates, organised by the Zimbabwe Environmental Law Organisation (ZELO) at Holiday Inn in Harare on Tuesday, Huang Minghai outlined the ongoing investments and compliance efforts of Chinese companies in the lithium sector.

Huang emphasised that Chinese companies place significant importance on the comprehensive utilisation of mineral resources and have already undertaken investments and research in this area.

“The companies place significant importance on the comprehensive utilisation of mineral resources and have already undertaken investments and research in this area,” Huang said.

He outlined specific projects underway:

  • Bikita Minerals completed the construction of a caesium flotation plant in August 2025 and a tantalum-niobium recovery plant in December 2025.
  • Kamativi Mining Company is currently constructing a tin, tantalum, and niobium recovery system, which is expected to commence operations in September 2026.

For other associated elements found in Zimbabwe’s lithium deposits, Huang noted that recovery has not yet reached economically viable levels.

“For other associated elements, the current grades have not yet reached economically viable recovery levels,” he explained.

The counsellor emphasised that Chinese companies are committed to working with Zimbabwean authorities to ensure compliance with local regulations.

“In addition, the companies have invited the Ministry of Mines and Mining Development to conduct comprehensive elemental analysis and research on lithium concentrates. All five companies are fully prepared to cooperate with government authorities regarding supervision, sampling, and investigations,” Huang said.

This commitment comes against the backdrop of the government’s recent suspension of raw lithium exports and its stated intention to tighten monitoring and enforcement across the sector. The government announced on 25 February 2026 the immediate suspension of all raw mineral and lithium concentrate exports, including shipments already in transit, citing widespread leakages, licence abuse, and failure to declare valuable by-minerals.

Huang also addressed the nature of lithium concentrate as a globally traded commodity, noting that Zimbabwe’s production follows international norms.

“It is also important to note that lithium concentrate is an internationally standardised commodity, and it is produced and exported in the same form in major lithium-producing regions such as Australia, South America, and Southern Africa,” he said.

He added that downstream processing of lithium follows established environmental practices globally.

“Following lithium extraction in downstream processing, the remaining residues are typically classified as industrial solid waste and are disposed of through licensed third-party facilities, in accordance with established international industry practices.”

Processing Capacity Developments

While Huang did not detail specific processing capacity figures, the companies he referenced have made significant strides. Bikita Minerals, operated by Sinomine, has been expanding its operations. The Bikita mine is one of Zimbabwe’s oldest lithium mines, having produced lithium minerals for decades, and the new recovery plants for caesium and tantalum-niobium represent significant value addition to the operation.

Kamativi Mining Company, operated by China’s Yahua Group, has been developing its processing infrastructure since taking over operations at the site of the former tin mine. The planned tin, tantalum, and niobium recovery system is part of a broader strategy to maximise value from the Kamativi pegmatites, which are known to contain multiple minerals.

The meeting comes five weeks after Zimbabwe announced the immediate suspension of all raw mineral and lithium concentrate exports. The government has cited widespread leakages, licence abuse, and failure to declare valuable by-minerals as reasons for the accelerated enforcement. Ministry of Mines Permanent Secretary Pfungwa Kunaka has testified before Parliament that studies confirmed significant losses of rare earths, tantalum, and niobium that were being shipped out without declaration.

The recovery plants that Chinese companies are constructing—for caesium at Bikita and for tin, tantalum, and niobium at Kamativi—directly address these concerns. By recovering these associated minerals locally, Zimbabwe can capture value that was previously being lost.

Huang’s address at the ZELO-organised breakfast meeting signals that Chinese investors, who dominate Zimbabwe’s lithium sector, are prepared to work within the new regulatory framework. For Zimbabwe, the challenge is to balance enforcement with continued investment. For Chinese companies, the challenge is to demonstrate compliance while maintaining operations during the transition to local processing.

The embassy’s presence at the meeting underscored the importance of the sector to bilateral relations. Chinese companies have invested billions of dollars in Zimbabwe’s lithium sector since 2021, making them central to the country’s beneficiation ambitions.

With recovery plants coming online for associated minerals and processing capacity expanding, the foundations for a new phase in Zimbabwe’s lithium industry are being laid. Whether those foundations will support the industrial future the government envisions remains to be seen.

Coal Gasification in Zimbabwe: Huge Potential for Fuel and Chemicals, but Demand Limits Investment

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  • Coal Gasification Could Unlock New Value for Zimbabwe, But Demand Remains Key Hurdle

Zimbabwe’s coal sector holds significant potential for downstream value addition, including advanced processes like coal gasification and coal-to-liquid fuel conversion, but insufficient domestic demand remains the primary obstacle to large-scale beneficiation investment, the Chamber of Mines has revealed.

By Rudairo Mapuranga

Speaking at a workshop on energy minerals co-hosted by ActionAid Zimbabwe and the Parliament of Zimbabwe, Chamber of Mines Economic Policy and Investment Promotion Manager David Matyanga outlined the full spectrum of coal beneficiation opportunities available to Zimbabwe, from basic washing to complex chemical conversion.

Members of the Parliamentary Portfolio Committee on Mines and Mining Development were in attendance. Matyanga began by explaining that coal is the foundational product from which all other beneficiation flows.

“The basic sellable product of any mining organisation is coal. From coal, we then move on to any other product above that. The coal sector has a wide range of options for beneficiation,” he said.

He explained that thermal coal, used for power generation and industrial heating, is the most basic product, extracted directly from the pit with minimal processing.

“Thermal coal is a product that cannot be beneficiated in any other way. It is from the pit to the processing plant.”

The first stage of beneficiation involves washing, which removes ash and other impurities from the raw coal.

“There are various processes that are undertaken to increase the value of the product, starting with washing, removing ash and other impurities within that product. Once the product is washed, then various off-takers can pick that up for various applications.”

These applications include industrial boilers for steam production, laundry operations, and heating systems across manufacturing sectors.

Matyanga explained that coal is naturally ranked into different grades, with the highest quality found at the base of coal seams.

“Coal, by its nature, is ranked into various grades. At the very top is thermal coal; at the base of the coal seams is your coking coal.”

Coking coal undergoes processing through coke batteries to produce coke, which is essential for:

• Ferrochrome production
• Iron and steel manufacturing
• Other industrial applications

The coke manufacturing process itself yields valuable chemical by-products that feed into other industries.

“From the coke manufacturing process, you get a lot of other by-products, such as steam. You also get to produce chemicals such as toluene, tar, benzene, and others, which feed into the chemical sector.”

This creates opportunities for linkages between the mining and chemical industries, adding further value within Zimbabwe.

Matyanga highlighted the most advanced beneficiation options: coal gasification and coal liquefaction, processes that convert coal into synthetic fuels and chemicals.

“There are options for coal gasification and coal electrification, and those processes produce diesel from coal. A typical plant is one that is there in South Africa, which converts coal into diesel.”

He was referring to Sasol’s world-renowned coal-to-liquid (CTL) facility in Secunda, which has operated for decades, converting low-grade coal into high-value liquid fuels.

However, Matyanga was clear that the primary barrier to such investment in Zimbabwe is insufficient domestic demand.

“The basic requirement, as you indicated, is demand. You do not have sufficient demand to warrant the investment in a plant that manufactures those products.”

This is a critical point: coal-to-liquid plants require massive capital investment and operate most efficiently at enormous scale. Without a guaranteed offtake for the products—both liquid fuels and chemicals—such projects cannot achieve the returns investors require.

Matyanga revealed that a detailed assessment of Zimbabwe’s coal gasification potential has already been conducted.

“However, a study was done by a German company, which indicated that coal gasification and coal electrification are possible. That document is with the metallurgy department. I think we can actually look it up and see whether it is something that is worth investing in.”

The existence of this study suggests that the technical viability of coal gasification in Zimbabwe has already been established. What remains is an economic assessment of whether the investment case can be made given current demand projections.

For Zimbabwe, which holds significant coal reserves in the Hwange and other coalfields, the question of coal beneficiation is strategic. The country currently exports substantial quantities of raw coal and coke to regional markets, particularly to the Democratic Republic of Congo, Mozambique, South Africa, Zambia, and Botswana.

Moving up the value chain to produce liquid fuels and chemicals would require:

  • A clear assessment of domestic and regional demand for these products
  • A supportive fiscal framework for large-scale capital investment
  • Anchor investors willing to commit to multi-billion-dollar projects
  • Infrastructure to support such operations, including power, water, and transport

Matyanga’s remarks suggest that the technical groundwork has been laid. The German study sits with the metallurgy department, awaiting the right policy and market conditions to be dusted off and implemented.

For Zimbabwe, the question is not whether coal beneficiation is possible—it is. The question is whether the country can create the conditions that make the investment worthwhile. That requires understanding demand, engaging potential off-takers, and ensuring that the fiscal and regulatory environment can support projects of the scale required.

As Matyanga noted, South Africa’s Sasol provides proof of concept. Zimbabwe must now decide whether to follow that path and, if so, what it needs to do to make it viable.