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Drilling into Zimbabwe’s Future: Where Partnership Meets High-Tech Exploration

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In the global race to discover the minerals powering our future, the drill bit is being reinvented. It is no longer just a tool to penetrate rock but the sharp end of a data revolution, guided by AI, powered by autonomy, and accelerated by real-time analytics, Mining Zimbabwe can report.

By Rudairo Mapuranga

For a geologically blessed but underexplored nation like Zimbabwe, this presents a profound opportunity. The question is not whether the potential exists in its greenstone belts and vast dykes, but how to unlock it. As prominent geologist Patrick Takaedza argues, the answer lies in strategic partnerships that fuse policy clarity with cutting-edge technology.

“Transformational exploration and discovery will be achieved only if investor confidence is strengthened through transparent, consistent policy implementation and partnerships that operationalise best practice, technical rigour, and community alignment,” Takaedza states.

Zimbabwe’s foundation for a discovery boom is being laid today through deliberate collaboration. Takaedza’s proposed frameworks are designed to tackle the systemic bottlenecks that deter investment.

A cornerstone is modernising the nation’s geological knowledge base. “Co-invest with international partners to systematically fill data gaps,” Takaedza advises, advocating for a Digital Geoscience Hub. This platform would release high-quality public datasets, reducing discovery risk. He pairs this with a call for a Transparent EPO Evaluation Framework, developed by a Joint Government–Industry Technical Committee. “Commit to publicly disclosed timelines for EPO decisions,” he says, highlighting that “clarity and consistency in EPO issuance will build credibility with investors.”

To attract capital to high-risk, frontier regions, Takaedza proposes Government-Backed Exploration Funds. “Establish co-funded exploration vehicles that match private capital in priority underexplored regions,” he explains. Structured as public-private joint ventures, these funds “demonstrate government commitment, leverage private expertise, and derisk frontier work for investors.”

Central to this vision are Quarterly Mining Policy Roundtables. These structured forums would convene government, explorers, artisanal miners, and civil society to “collaboratively resolve policy bottlenecks.” Publishing action plans from these meetings, Takaedza notes, would “reduce policy uncertainty and signal to global markets that Zimbabwe is committed to consultative governance.”

A stable partnership framework attracts the right capital, the kind that brings cutting-edge technology. Takaedza’s plans directly enable this technological leap.

The proposed open-data platforms provide the fuel for AI-powered discovery. Furthermore, Takaedza emphasises Infrastructure Development Agreements. “Collaborate with explorers and development finance institutions to invest in access roads, power, and connectivity, especially in frontier terrains,” he says. This infrastructure “reduces operating costs, increases project viability, and attracts capital.”

Technical alliances are vital for sustainable growth. Takaedza encourages large explorers to “partner with local small-scale miners through contractual arrangements that transfer modern exploration skills, safety practices, and environmental standards.” This “strengthens local economic participation while securing a social licence to operate, a key factor in investor due diligence.”

This shift from concept to action is gaining momentum. The lithium boom, with exports surging and major beneficiation plants underway, proves focused investment yields rapid results.

“The nation’s mineral wealth is documented in world-class deposits,” Takaedza observes. The task is to find the next generation. He concludes that these strategic partnerships are “not just desirable but essential,” creating a virtuous cycle: “policy consistency strengthens investor confidence; investment accelerates exploration; discoveries unlock jobs, revenue, and sustainable development.”

By forging partnerships that ensure policy predictability, data accessibility, and community integration, Zimbabwe is actively building the launchpad for its future. When the next generation of drill rigs starts turning, they will do so on a foundation of collective purpose, drilling into a future built stronger, together.

Zimplats Quarterly Mined Volumes Surge on Stronger Underground Performance

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The country’s leading platinum group metals miner, Zimplats, saw mined volumes rise by 5% in the quarter ended December 2025 compared with the previous quarter, driven by improved underground operations, Mining Zimbabwe can report.

By Ryan Chigoche

The improvement was underpinned by stronger equipment availability at the underground mining operations, which also supported a 15% increase in year-on-year mined volumes.

Higher open-pit mining rates, combined with enhanced underground productivity, lifted overall mining performance during the quarter.

These gains follow a period of operational challenges underground.

In the prior quarter, the Australian Stock Exchange-listed miner reported that limited availability of trackless mobile machinery, including loaders and underground trucks, had constrained ore extraction and transport, slowing production.

Improved mining delivery flowed through to the processing plants, with milled volumes increasing 3% quarter-on-quarter and 12% year-on-year.

The improvement was further supported by fewer scheduled mill reline shutdowns during the period.

Metallurgical recoveries also benefited from greater operational stability, rising 4% from the previous quarter, though they remained 2% below the prior comparable period due to lower milled grades.

As a result, 6E concentrate production reached 169,086 ounces, up 7% from the prior quarter. Metal in final product also rose sharply, climbing 22% quarter-on-quarter and 35% year-on-year, supported by higher mill throughput and the treatment of accumulated concentrate inventories.

Ore grades were broadly stable on a quarter-on-quarter basis, with the 6E head grade holding steady. However, grades declined 3% year-on-year, reflecting a change in the ore mix following depletion of higher-grade ore from the Rukodzi Mine and the introduction of lower-grade material from open-pit operations.

On the cost front, total operating expenses rose 4% quarter-on-quarter and 22% year-on-year, driven by higher labour costs, increased open-pit activity, and maintenance expenditure. Transfers from closing stocks released US$5.7 million of inventory accumulated in the prior quarter.

Operating cash costs per 6E ounce improved 6% quarter-on-quarter to US$1,009, although they were 8% higher than the prior comparable period, showing that operational efficiencies partly offset rising input costs.

Capital Projects Drive Future Growth

Building on operational stability, Zimplats advanced its major growth and sustaining capital projects during the quarter. The Mupani Mine remains on track for full-scale production of 3.6 million tonnes per annum by FY2029, with US$360 million spent at period end against a total budget of US$386 million.

The smelter expansion and sulphur dioxide abatement project also progressed as planned, with cumulative expenditure of US$466 million against a US$544 million budget. The 45 MW Phase 2A solar power project remains on track for completion in H1 FY2027, which will increase total installed solar capacity to 80 MW. US$24 million has been spent so far against a total budget of US$54 million.

Phase 2 of the tailings storage facility expansion at the Selous Metallurgical Complex advanced during the period, complementing the substantially complete Phase 1. Together, the two phases will secure concentrator operations through FY2049, with US$7 million spent against a US$18 million budget.

On the exploration front, Zimplats also completed a surface core drilling programme at the Bimha and Mupani mining footprints in the reported quarter.

Twenty-four holes totalling 7,074 metres were drilled to upgrade reserve confidence levels and guide decline development, positioning the company to sustain production targets in the coming years.

Meanwhile, the miner’s production increase in the quarter comes as the global platinum group metals market outlook remains positive.

The World Platinum Investment Council (WPIC) expects PGM demand to strengthen in 2026, driven by automotive catalysts, hydrogen applications, and investment flows, while supply growth remains constrained.

Kavango confirms new gold reef, high grades at Bill’s Luck

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London- and Victoria Falls Stock Exchange-listed junior Kavango Resources has announced high-grade results from its diamond drilling programme at the historic Bill’s Luck Gold Mine in Filabusi, confirming the discovery of a new mineralised reef structure parallel to the main vein, Mining Zimbabwe can report.

By Rudairo Mapuranga

The results are part of a campaign to establish a maiden Mineral Resource Estimate (MRE) for the mine, located within the Hillside Project. The programme, which included over 4,150 metres of diamond drilling, intersected the known “Main Reef” and identified an additional mineralised reef structure running adjacent to it.

Kavango’s Interim Chief Executive Officer, Peter Wynter Bee, said the resource drilling programme had “exceeded our expectations”, demonstrating that the mineralised system extends to depths greater than 220 metres, with continuity along strike and at depth.

“The drilling also tested and intersected further ‘reefs’ in both the hanging wall and footwall,” the company stated.

  • Key high-grade intercepts from the diamond drilling include:
  • 106.05 grams per tonne (g/t) gold over 1.16 m in hole BLDDUG023.
  • 41.28 g/t gold over 1.05 m in hole BLDDUG020C.
  • 4.86 g/t gold over 6.96 m in hole BLDD020.

The company plans to integrate these results with data from a separate reverse circulation (RC) drill programme to define an initial resource. This MRE will guide future mine planning and assess long-term production potential at Bill’s Luck, which is being developed ahead of commissioning a 50-tonne-per-day pilot plant.

Kavango is exploring for gold deposits in Zimbabwe suitable for rapid development through modern mechanised mining. At the broader Hillside Project, the company has also declared a maiden resource at the Nightshift target and is evaluating the Steenbok target.

The full results from the RC drill programme are expected to be released in the coming weeks. Together with the diamond drill results, this data will be used to inform the maiden Mineral Resource Estimate for Bill’s Luck.

“We look forward to providing further updates on our plans to increase gold production here soon,” CEO Peter Wynter Bee said.

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

Gold buying prices in Zimbabwe per gram/ ounce,2 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 above151.364,707.83
SG 85% and above but below 90%149.754,657.75
SG 80% and above but below 85%148.154,607.98
SG 75% and above but below 80%146.554,558.22
Sample 5g and above but below 10g144.154,483.57
Fire Assay CASH152.164,732.71

 

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, 30 January 2026

Gold buying prices in Zimbabwe per gram/ ounce, 30 January 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above164.215,107.51
SG 85% and above but below 90%162.475,053.39
SG 80% and above but below 85%160.744,999.58
SG 75% and above but below 80%159.004,945.46
Sample 5g and above but below 10g156.394,864.28
Fire Assay CASH165.085,134.57

 

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.

Close Call in Hwange as Mine Bus Collides With Train

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A mine bus driver was injured on Tuesday after the vehicle was struck by a train at a level crossing in Hwange, following an apparent attempt to beat the oncoming locomotive.

According to the National Railways of Zimbabwe (NRZ) the accident occurred at the Old Hwange Number 2 level crossing when the driver reportedly tried to race across the tracks but failed to clear the crossing before the train arrived. The bus was hit, resulting in injuries to the driver.

The injured driver was taken to the hospital for treatment and is reported to be receiving medical care. Authorities have since wished him a speedy recovery.

In the aftermath of the incident, the National Railways of Zimbabwe (NRZ) reiterated that motorists are legally required to stop at all level crossings, even when no train is visible, warning that failure to do so can have serious and potentially fatal consequences.

Gold buying prices in Zimbabwe per gram/ ounce, 29 January 2026

Gold buying prices in Zimbabwe per gram/ ounce, 29 January 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above161.235,014.82
SG 85% and above but below 90%159.534,961.94
SG 80% and above but below 85%157.824,908.75
SG 75% and above but below 80%156.114,855.57
Sample 5g and above but below 10g153.554,775.94
Fire Assay CASH162.095,041.57

 

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.

Valterra Platinum Signals Earnings Upswing Ahead of FY2025 Close

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Valterra Platinum is expecting a sharp improvement in earnings for the financial year ending 31 December 2025, as higher platinum group metals (PGM) prices and sustained cost savings begin to reflect across the business.

By Ryan Chigoche

Against this backdrop, the miner, which operates in both South Africa and Zimbabwe, including the Unki Mine, has issued earnings guidance pointing to a significant year-on-year recovery following a subdued performance in 2024.

In headline terms, earnings for FY2025 are forecast to increase by between 85% and 105%, rising to between R15.6 billion and R17.3 billion (about US$975 million to US$1.08 billion), compared with R8.4 billion (about US$525 million) in the prior financial year. Headline earnings per share are expected to range from 5,941 cents to 6,588 cents, up from 3,205 cents previously.

Growth is even more pronounced on a basic earnings basis. Here, earnings are projected to rise by between 105% and 125%, reaching between R14.5 billion and R15.9 billion (about US$905 million to US$992 million), from R7.1 billion (about US$444 million) a year earlier. This translates to earnings per share of between 5,522 cents and 6,055 cents.

Underlying this improved outlook was a notably stronger pricing environment during FY2025.

In the reported period, the average PGM dollar basket price increased by 26% to US$1,852 per ounce, providing a meaningful uplift to revenue and partially offsetting lower sales volumes.

In parallel with the pricing recovery, Valterra continued to tighten operational discipline.

During the year, the company delivered approximately R5 billion in operational cost savings (about US$312 million), which helped counter inflationary pressures and absorb R1.7 billion (about US$106 million) in once-off costs linked to the group’s demerger.

Despite these positives, sales volumes declined year-on-year.

This was largely due to a higher drawdown of excess work-in-progress inventory in the previous financial period, compounded by operational disruptions caused by flooding at the Tumela section of the Amandelbult Mine in South Africa during the first half of FY2025.

Even so, the financial impact of the flooding was partially offset by insurance proceeds amounting to R2.5 billion (about US$156 million).

In addition, basic earnings were affected by non-recurring asset write-offs totalling R1.9 billion (about US$119 million).

These are related to abandoned design and engineering work at the Mortimer Smelter SO₂ abatement project and the Vaalkop Tailings Storage Facility.

Both projects have since been replaced by the Blinkwater Tailings Storage Facility, which now provides adequate long-term tailings capacity.

As profitability improved, taxation and royalty payments are expected to be higher for FY2025, reflecting increased earnings rather than changes in fiscal terms.

Taken together, the FY2025 trading guidance points to a more stable operating and pricing environment for Valterra Platinum.

With disciplined cost control and diversified assets across South Africa and Zimbabwe, the group appears better positioned as it moves toward releasing its full audited FY2025 results in due course.

Gold buying prices in Zimbabwe per gram/ ounce, 28 January 2026

Gold buying prices in Zimbabwe per gram/ ounce, 28 January 2026, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above153.864,785.58
SG 85% and above but below 90%152.234,734.89
SG 80% and above but below 85%150.604,684.19
SG 75% and above but below 80%148.974,633.49
Sample 5g and above but below 10g146.534,557.60
Fire Assay CASH154.674,810.78

 

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.

Invictus Energy Terminates Key Funding Deal, Vows to Protect Assets and Pursue New Partners

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In a significant corporate development, Australian-listed Invictus Energy Limited (ASX: IVZ) has announced the immediate termination of its Subscription Agreement with African Management Holdings (AMH), citing a repudiation of contractual obligations by the latter, Mining Zimbabwe can report.

By Rudairo Mapuranga

The decision, approved by the Invictus Board and announced on 27 January 2026, brings a sudden end to negotiations over a strategic investment that was intended to support the company’s operations in the Cabora Bassa Basin.

According to the announcement, it became apparent to Invictus that AMH “does not intend to satisfy its contractual obligations.” Invictus stated that AMH’s conduct constituted a repudiation of the agreement, leading the company to accept that repudiation and terminate the deal outright.

“Invictus has ceased all discussions with AMH, and no further negotiations or transactions are being progressed between the parties,” the release stated definitively.

The Board framed the termination as a necessary move to safeguard the company. They emphasised that ending the discussions was critical “to protect the Company’s assets, governance framework, and the interests of shareholders, and to ensure continued compliance with Australian regulatory requirements and the Company’s governance standards.”

This focus on governance follows a recent strengthening of Invictus’s executive team, including the January 2026 appointment of CFO Vicky McLellan as Joint Company Secretary alongside Gabriel Chiappini, to enhance regulatory and compliance oversight.

Despite the setback, Invictus struck a forward-looking tone. The company stated it is “disappointed” but believes the termination is in the best long-term interests of its shareholders.

Attention is now firmly on alternative options. “The Company remains focused on advancing its core asset portfolio in the Cabora Bassa Basin and continues to actively engage with a number of alternative strategic and funding counterparties,” the announcement read.

The Board expressed confidence, noting it is “encouraged by the level of interest being received” and believes Invictus is “well positioned to progress value-accretive transactions and partnerships” that support its planned work programme at Mukuyu and other prospects within SG 4571.

The collapse of this funding deal represents a hurdle for Invictus, requiring a swift pivot to secure alternative financing. However, the firm language on governance and the proactive termination suggest a board prioritising operational control and regulatory compliance. The stated high level of external interest will be crucial to monitor, as securing a new, reliable partner is the immediate next step for the company’s ambitious Zimbabwean exploration plans.