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Caledonia Greenlights Massive Bilboes Gold Project with 1.7 Million Ounce Reserve

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In a move set to transform its future, multi-listed gold-focused miner Caledonia Mining Corporation Plc has officially sanctioned the development of the giant Bilboes Gold Project, following the completion of a highly positive Feasibility Study, Mining Zimbabwe can report.

By Rudairo Mapuranga

The project, which boasts a robust Proven and Probable mineral reserve of 1.749 million ounces of gold, is positioned to become a cornerstone asset for Caledonia, catapulting it into the ranks of mid-tier gold producers.

“The finalisation of the Feasibility Study and the decision to implement the project is a defining moment for Caledonia in our journey to become a mid-tier gold producer,” said Mark Learmonth, Caledonia’s Chief Executive Officer. “We believe Bilboes will transform Caledonia and significantly change our production profile.”

The economic picture for Bilboes is compelling. Using a conservative gold price of $2,548 per ounce, the project projects a post-tax Net Present Value (NPV) of $582 million and an Internal Rate of Return (IRR) of 32.5%. Perhaps most strikingly, the mine is expected to pay back its initial investment in just 1.7 years from the start of production.

Over its initial 10.8-year life of mine, Bilboes is forecast to produce 1.55 million ounces of gold at an all-in sustaining cost (AISC) of $1,061 per ounce, ensuring healthy operating margins.

The scale of the undertaking is significant, with a peak funding requirement of $484 million. Caledonia has outlined a sophisticated funding strategy designed to minimise equity dilution and protect its shareholder dividend. The majority of the capital is expected to come from non-recourse senior debt, supplemented by internal cash flow from the existing Blanket Mine and other flexible instruments.

First production is targeted for late 2028, with the project ramping up to steady-state operations in 2029. In its first full year, Bilboes is anticipated to produce approximately 200,000 ounces of gold, dramatically boosting Caledonia’s overall output.

Fully permitted and located 80 km north of Bulawayo, the Bilboes project is a major vote of confidence in Zimbabwe’s mining sector. Learmonth emphasised that a project of this scale “should help Zimbabwe to reclaim its position as a major ‘gold destination’ in the eyes of the international investment community,” bringing substantial foreign exchange earnings and tax receipts.

The project also benefits from its proximity to Caledonia’s adjacent Motapa property, a large brownfield exploration site, offering potential for future resource expansion and operational synergies.

With the Front-End Engineering Design (FEED) phase commencing immediately, Caledonia is now full steam ahead on developing what promises to be one of Zimbabwe’s most important gold mines in recent years.

Mine for the People, Not Just Profit – Minister Demands Community Centric Reporting

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In an effort to ensure the mining industry has solid, data-driven research on how communities perceive their operations, the Minister of Mines and Mining Development, Hon Winston Chitando, has directed the Chamber of Mines to conduct a parallel report to its annual State of the Mining Industry survey, this one focusing entirely on the community perspective, Mining Zimbabwe can report.

By Rudairo Mapuranga

This landmark instruction, delivered at the State of the Mining Industry Report 2026 event on Wednesday, signals a fundamental shift in the government’s approach, placing a mining company’s social licence to operate on par with its economic and technical performance.

Minister Chitando’s mandate challenges the industry to move beyond internal assessments and actively listen to the voices of those most affected by mining activities.

He emphasised that this proposed “state of the community survey” is critical for diagnosing issues, holding poor performers accountable, and ultimately safeguarding the entire sector’s reputation.

The initiative represents a proactive move to bridge the growing trust gap between powerful mining corporations and local populations, ensuring that the wealth extracted from the earth translates into tangible benefits for those on the surface.

Minister Chitando structured his remarks around six pivotal comments that collectively frame a new expectations landscape for Zimbabwe’s mining sector. While acknowledging the Chamber’s organisational excellence and the importance of its annual survey, the Minister quickly pivoted to what he termed “the spirit behind the survey” and the critical question of “what happens after?”

His most significant directive came in his sixth and final point, where he explicitly called for a fundamental expansion of the Chamber’s reporting framework: “It’s very good that you’ve done this to take up the industry survey. But I think at some stage, let’s also have a state of the community survey on how they are affected by mining… Very important that at some stage, we also have the survey… to see what the communities out there think of mining companies.”

Minister Chitando introduced a crucial concept of collective industry responsibility, warning mining companies against complacency: “If you are company A and you believe you are a good social citizen, what is being done by company B, which is not a good social citizen, will change what you are doing as company A… No, it affects you because the social licence is not only local, but it is also national and international.”

This perspective fundamentally challenges the mining industry to evolve from isolated corporate social responsibility projects to establishing industry-wide standards that protect the sector’s collective reputation and social licence.

Zimbabwe’s mining sector stands as a critical economic pillar, with 2024 mineral exports reaching approximately US$6.1 billion, primarily anchored on platinum group metals (PGMs), gold, lithium, diamonds, and chrome. The industry directly employs over 45,000 people, with thousands more engaged in artisanal and small-scale mining operations that supplied 65% of Zimbabwe’s record 36.48 tonnes of gold production in 2024.

The government projects continued growth of 5.9% in 2026, supported by firm global gold prices and strong performance in key mineral sub-sectors. This robust performance makes mining indispensable to Zimbabwe’s economic trajectory, but also underscores why ensuring communities share in these benefits is both an economic and moral imperative.

Zimbabwe’s mining regulatory environment is poised for significant transformation with the pending Mines and Minerals Bill, published in the Government Gazette on 25 June 2025. This legislation aims to replace the outdated Mines and Minerals Act enacted in 1961, with several provisions directly addressing community and environmental concerns.

The proposed bill includes strengthened environmental provisions, requiring “holders of mining rights to work their claims rather than allowing them to preserve their title by paying annual fees” and mandating that “miners participate in funds and make other provisions to meet the cost of restoring the environment when their mining operations come to an end.”

The bill also introduces the concept of “strategic minerals” with special conditions negotiated between the Minister and the State. This classification, likely encompassing lithium and other critical minerals, reflects both the economic importance and the need for heightened responsibility in extracting these resources.

The global mining industry is increasingly recognising that community engagement isn’t optional but fundamental to sustainable operations. The Initiative for Responsible Mining Assurance (IRMA) exemplifies this shift, founded on the belief that “every individual impacted by mining should have a say in how responsible mining is defined and measured.”

This approach acknowledges what industry leaders have increasingly recognised: mining’s social licence depends on meaningful community participation throughout the mining lifecycle, from exploration to closure and rehabilitation.

The International Council on Mining and Metals (ICMM) frames responsible mining as practices that “prioritise environmental stewardship, social responsibility, and ethical governance throughout the entire mining lifecycle.” This includes “avoiding, minimising and mitigating environmental impacts, respecting human rights, ensuring worker safety, engaging with communities, and fostering long-term social and economic development.”

Modern mining operations in other jurisdictions demonstrate how community engagement transforms potential conflicts into partnerships. As the National Mining Association notes, “Responsible U.S. mining means protecting land, water and wildlife, and ensuring that operations have a positive impact on the people who live and work nearby.”

Under the Second Republic, Zimbabwe has increasingly emphasised local beneficiation and value addition as central to its mining strategy. As Minister Chitando stated in another address, “Demand for critical minerals is rising, and we are open to partnerships interested in extraction and local value addition and beneficiation of these minerals.”

The 2026 Budget Strategy Paper reinforces this commitment, noting that “Priority will also be on promoting local value addition and beneficiation through upgrading local processing and refining capacity of minerals into semi-finished and finished products.” This strategic shift aims to foster industrial hubs and develop value chains that maximise domestic economic benefits while reducing reliance on raw mineral exports.

Minister Chitando has highlighted that “under the Second Republic, Zimbabwe encourages sustainable mining practices,” noting that in 2024, President Mnangagwa launched phase one of the responsible mining initiative, which “entails that all mining operations should abide by the laws of the country, particularly those related to the environment and social responsibility.”

The Sabi Star lithium project in Manicaland offers a compelling case study in how modern mining can potentially benefit local communities. By 2026, the project is projected to create between 1,300 and 2,500 direct jobs, representing a 35% growth in local employment. Beyond employment, the operation has stimulated major upgrades in “roads, energy grid, and water systems benefiting both mining and surrounding agricultural communities.”

The project implements advanced environmental practices, including water recycling technologies that reduce water use by 30% and tailings management that reduces waste by 40% compared to conventional approaches. These practices demonstrate how modern mining operations can minimise their environmental footprint while maintaining economic viability.

The integration of satellite and AI monitoring technologies enables “precision mapping of the lithium-bearing zones, real-time surveillance, and resource optimisation,” representing the kind of technological innovation that can make mining more efficient and environmentally responsible.

Minister Chitando’s call for a “state of the community survey” represents more than a simple request for additional data; it signals a fundamental reorientation of how Zimbabwe’s government conceptualises mining success. No longer measured solely by production volumes and export earnings, the industry’s performance must now include community well-being and social acceptance as core metrics.

The Chamber of Mines faces a critical decision: embrace this challenge as an opportunity to strengthen the sector’s social licence and long-term sustainability, or resist and risk increasing regulatory pressure and community opposition. The Minister’s closing reassurance that “we are going to engage to ensure that we have a mining environment which is the right medium for the success of the industry” suggests a partnership approach, but one with clear expectations.

For Zimbabwe’s mining sector, the path forward is clear: listen to communities, measure what matters to them, and transform operations to demonstrate that mineral wealth can coexist with community wellbeing. In doing so, Zimbabwe has the potential to become not just a “tried and tested mining jurisdiction” in economic terms, but a global leader in community-centred mineral development that other nations might emulate.

The minerals beneath Zimbabwe’s soil belong to its people; the industry that extracts them must now prove it serves those same people. Minister Chitando has issued the challenge—the Chamber’s response will shape Zimbabwe’s mining legacy for generations to come.

Gold buying prices in Zimbabwe per gram/ ounce, 26 November 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 26 November 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE125.37$3,899.45
SG 85% and above but below 90%124.04$3,858.08
SG 80% and above but below 85%122.71$3,816.71
SG 75% and above but below 80%121.39$3,775.65
Sample 5g and above but below 10g119.40$3,713.76
Fire Assay CASH126.03$3,919.97

 

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.

Fidelity Showcases Blockchain Traceability and Responsible Sourcing at Dubai Precious Metals Conference

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Fidelity Gold Refinery (FGR) used the Dubai Precious Metals Conference 2025 to highlight the responsible sourcing and compliance framework now underpinning Zimbabwe’s gold value chain, positioning the country for greater acceptance in international bullion markets, Mining Zimbabwe can report.

By Ryan Chigoche

Now in its thirteenth edition, the Dubai Precious Metals Conference (DPMC) remains a leading platform for strategic dialogue, policy insight, and market intelligence.

This year’s event comes amid rapid change in the precious metals sector, where surging prices, trade tensions, and digital disruption are reshaping supply chains.

From asset tokenisation to AI integration, the pace of transformation is unprecedented, making compliance, traceability, and responsible sourcing more critical than ever.

Against this backdrop, FPR General Manager Peter Magaramombe presented the Zimbabwean refiner’s initiatives, showing how domestic reforms align with global standards.

He highlighted efforts focused on transparency, risk management, and OECD-aligned due diligence, describing them as part of a broader push to modernise Zimbabwe’s refining sector and strengthen confidence in the origin of Zimbabwean gold.

Magaramombe announced that the FPR Board had approved a Responsible Sourcing and Supply Chain Management Policy, now publicly available on the company website.

The policy signals the refinery’s commitment to global compliance expectations and raising the bar for supply chain governance in Zimbabwe.

In a market where refiners and global exchanges increasingly demand proof of provenance, the origin of gold has become as important as its purity.

Heightened scrutiny over illicit flows, conflict financing, and ESG compliance has prompted hubs such as Dubai to require verifiable records from all upstream suppliers.

For Zimbabwe, demonstrating a clean, traceable, and well-governed supply chain is essential to maintain competitiveness, protect export channels, and secure market confidence.

To meet these expectations, Magaramombe outlined a series of compliance measures implemented across the value chain. FPR has rolled out a blockchain-based mine-to-market traceability system in partnership with Commstack.

This system creates immutable digital records, strengthening verification and reducing opportunities for illicit gold movements.

FPR has also established a fully fledged Compliance Department, led by a Senior Compliance Officer, to oversee risk management processes and ensure adherence to international norms.

As part of its due diligence, the refinery has assessed all upstream suppliers, mapping risks linked to conflict financing, human rights abuses, and regulatory breaches. These assessments are consolidated into an institutional risk register, categorised into low, medium, and high-risk ratings.

Response strategies are guided by an enterprise-wide risk management system, ensuring mitigation measures are proportional to risk.

These include mandatory customer due diligence, verification of source of funds, proof of mining rights, strict anti-money laundering protocols, and detailed customer profiling before onboarding.

FPR’s framework is independently validated through annual onsite inspections by the Financial Intelligence Unit and periodic reviews by external assurance providers, consistently earning positive assessments.

The refinery has also integrated its supply chain due diligence into annual ESG and sustainability reporting, reinforcing transparency across the gold value chain and supporting Zimbabwe’s broader alignment with global responsible sourcing standards.

Magaramombe said these measures collectively position FPR to meet international market expectations, prioritising traceability and accountability while building confidence in the provenance of Zimbabwean gold.

The 2025 conference, themed “The Future of Precious Metals: Tariffs, Tokenisation and Trade Flows,” provided an ideal backdrop to showcase Zimbabwe’s progress.

The event brought together industry leaders, policymakers, financiers, and technologists to explore where geopolitics and tariffs intersect with new mining partnerships, the evolving roles of bullion banks and trading companies, and Dubai’s continued rise as a global hub for precious metals, supported by record gold trade and a growing eastward shift in market influence.

Namib Minerals Advances Major Capacity Expansion at How Mine

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Nasdaq-listed Namib Minerals is accelerating its operational improvement strategy at How Mine, pressing ahead with a major expansion of its ore-milling capacity, Mining Zimbabwe can report.

By Ryan Chigoche

In its latest business update, the Company confirmed plans to lift milling capacity from 40,500 tonnes per month in 2024 to 55,000 tonnes per month by 2026, an approximately 36% increase in throughput. Procurement of the required equipment is already underway, with commissioning targeted for the second half of 2026.

“This capacity expansion will enable the Company to process higher ore volumes and offset the reduction in grade experienced to date in 2025,” Namib reported.

Namib Minerals is also positioning itself for sustained long-term growth. Its corporate objective is to evolve into a multi-asset, mid-tier gold producer targeting eventual output of 300,000 ounces per year.

The Company emphasises that this is a long-term strategic aspiration, not production guidance, and is not based on a Preliminary Economic Assessment, Pre-Feasibility Study, or Feasibility Study.

Progress toward this vision hinges on the successful execution of mine-restart programmes, expansion projects, and ongoing exploration and development initiatives.

Against this backdrop, Namib is advancing restart preparations across its other assets. At Redwing, enabling works have commenced, marking the first phased step toward returning the mine to production. Dewatering is scheduled to run concurrently with feasibility studies and is expected to take about eight months to reach the targeted mining levels.

Dewatering forms the backbone of the restart sequence, giving the Company access to underground workings, enabling infrastructure refurbishment, and preparing the ground for a phased production ramp-up. In parallel, surface-infrastructure upgrades, including power-supply reinforcement, are being lined up to match the restart timeline.

At Mazowe, Namib is undertaking similar restart activities. The Company is progressing upgrades to power, water, and tailings-management systems while conducting detailed engineering studies aimed at sharpening capital efficiency and optimising the mine-restart pathway.

As previously reported by this publication, Namib engaged WSP to carry out comprehensive S-K 1300-compliant feasibility studies for both Redwing and Mazowe.

Announced on November 10, 2025, the dual-study programme will run for 12 to 18 months and is expected to form the technical backbone of the restart process. Both mines remain under care and maintenance, with redevelopment contingent on completing dewatering and resource-definition drilling.

The ongoing feasibility work will provide the groundwork for reserve conversion, permitting, and future financing discussions—key steps required before production can resume.

To support its growth trajectory, Namib estimates that total capital requirements for its expansion and restart programme will range between US$300 million and US$400 million, with Redwing Mine expected to absorb the largest share.

The Company is pursuing a balanced funding model designed to minimise dilution, prioritising project debt, strategic partnerships, and internally generated cash flows.

Discussions with multiple capital providers are ongoing. Namib stresses that its funding estimate remains preliminary and is subject to feasibility outcomes, engineering refinements, market conditions, equipment costs, and other external risks.

Sabi Gold Mine Exits Judicial Management After Major Turnaround

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Sabi Gold Mine has officially exited judicial management, signalling a major recovery under the Zimbabwe Mining Development Corporation (ZMDC), Mining Zimbabwe can report.

The operation, placed under judicial management in 2014 due to severe financial distress, has clawed back from near collapse and is now producing an average of 448kg of gold per year.

The turnaround follows targeted interventions by ZMDC aimed at stabilising operations, boosting output, and restoring financial viability.

The recovery at Sabi is part of a broader effort by ZMDC to revitalise its mining portfolio. The corporation also manages gold operations at Jena, Elvington, and Golden Kopje mines. These efforts contribute to national ambitions to achieve upper-middle-income status by 2030.

Exiting judicial management has restored confidence in Sabi’s long-term stability. The mine is now a high-yield, reliable asset, supporting local employment and boosting economic activity in the region. Chitambira notes that this achievement demonstrates how focused oversight can turn struggling mines into productive operations.

ZMDC is applying the same approach to other projects. Golden Kopje Mine in Chinhoyi is expected to reopen soon, adding around 200kg to the corporation’s annual gold output.

In the base metals sector, Sanyati Copper Mines has shown promising exploration results, with production projected to resume in the first quarter of 2027. This revival will diversify Zimbabwe’s mineral output and reduce reliance on imported copper.

The easing of Western sanctions on ZMDC last year has also opened access to global markets, investment, and technology. Sabi Gold Mine’s recovery highlights ZMDC’s renewed operational momentum and reinforces its role as a cornerstone of Zimbabwe’s mining-led economic growth.

China Pushes Back Against “Exaggerated Claims” as Debate Over Its Role in Zimbabwe’s Mining Sector Intensifies

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China has urged a more balanced and evidence-based national conversation about its role in Zimbabwe’s mining sector, stating that many allegations circulating on social media and public platforms are distorted, unverified, or deliberately misleading, according to Mining Zimbabwe.

By Ryan Chigoche

Speaking at a recent event in the capital, the Chinese Ambassador to Zimbabwe, Zhou Ding, said a wave of misinformation aimed at discrediting Chinese companies had created an inaccurate impression of China’s footprint in Zimbabwe’s mining landscape.

“Certain narratives based on unverified information consistently and desperately smear Chinese enterprises. As we look into these allegations against Chinese companies and enterprises, unfortunately, we found that over 80% of them are exaggerated or fabricated, designed to incite xenophobia at very little cost,” he said. “Such tactics harm Zimbabwe’s business climate and discourage investors.”

He said this rising tide of distorted narratives often overshadows the scale of investment, job creation, value addition, and community development that accompany China’s partnership with Zimbabwe.

According to data shared in his remarks, more than 1,400 new Chinese companies have registered in Zimbabwe in the past three years, a significant portion of them in mining. Collectively, China–Zimbabwe trade and investment now support the livelihoods of more than one million people, with mining contributing more than half of this impact.

Major investors, including Dinson Iron and Steel Company, Huayou, and Sinomine, employ thousands of Zimbabweans and have partnered with vocational institutions to expand technical training and technology transfer.

The Ambassador linked Chinese investment to Zimbabwe’s broader economic agenda, including Vision 2030 and the National Development Strategy.

He welcomed government commitments to maintaining a predictable business environment and expressed confidence that the upcoming Mines and Minerals Bill would further strengthen the sector.

Major national projects undertaken with Chinese support were highlighted, including expansions at Hwange and Kariba South power stations, upgrades at Victoria Falls and R.G. Mugabe International Airport, nationwide borehole drilling, medical infrastructure improvements, and high-performance computing systems at the University of Zimbabwe.

Call for Responsible Journalism

Turning to the media, Zhou emphasised the need for professionalism and ethical reporting in an era where misinformation spreads rapidly across digital platforms. He said the Chinese Embassy stands ready to provide journalists with access to accurate, first-hand information on China–Zimbabwe cooperation.

Gold buying prices in Zimbabwe per gram/ ounce, 25 November 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 25 November 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE124.023,856.09
SG 85% and above but below 90%122.713,815.08
SG 80% and above but below 85%121.393,773.95
SG 75% and above but below 80%120.083,733.06
Sample 5g and above but below 10g118.113,671.47
Fire Assay CASH124.673,876.41

 

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.

ZRP Warns Public Against Illegal Gold Possession as Calls Grow to Modernise Outdated Laws

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The Zimbabwe Republic Police (ZRP) has issued a strong warning to individuals and institutions found in possession of gold without the required permits or licences, stating that violators will be arrested and prosecuted in line with the Gold Trade Act and regulations under the Ministry of Mines and Mining Development.

The warning follows the recent arrest and conviction of Joseph Phiri, who was found in possession of 3,118 grams of gold without proper documentation. He was sentenced to five years in prison, and the gold was forfeited to the State.

While the ZRP is simply enforcing the existing regulations, there is a growing consensus that Zimbabwe’s gold laws require urgent reform to suit the current mining environment.

A follower on the Mining Zimbabwe Facebook page encouraged the lobbying of the removal of the law, which they labelled oppressive.

“We should lobby for the removal of such oppressive laws. We are Zimbabweans, and it is our gold. So are we saying there is no makorokoza, isn’t?. Who are the major producers of yellow metal?. 

“Iyi haichafanira kuva mhosva iyi. Maybe dai mati ukabatwa uchida kubuditsa munyika.bt also reserve gold mining only to citizens, period and not negotiable,” translated “This should no longer be a crime. Maybe if you were caught trying to export it to the country. BT also reserves gold mining only to citizens, period and not negotiable,” another said among over 50 comments made minutes after we posted the ZRP Press release on Facebook, which is our biggest platform.

The law that the ZRP is enforcing was crafted at a time when formal mining houses dominated production and artisanal mining barely existed.

In a country that has gold in every district, and with the majority of a total of 1.5 million artisanal miners being unregistered, it may be time to re-examine this law to suit modern-day gold mining, which is heavily dominated by Artisanal and small-scale miners.

Rebirth of Hilmax Engineering – A phoenix rising from the ashes

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It is common knowledge that in February 2024, Hilmax Engineering went into corporate rescue. What may not be known by some is that on 31 July 2025, Hilmax came out of corporate rescue. Once a respected name in the industry, being put under corporate rescue left Hilmax shaken, tested, and its spirit subdued. It was a business burdened with uncertainty and lacking in credibility.

Written by: Mr J. P Mkushi

There are times in the life of almost every organisation when survival demands courage, honesty and unity. The former directors of Hilmax showed these traits by volunteering for the company to go into corporate rescue. This courageous decision could be the reason why Hilmax is still alive and well today.

While to many, Corporate Rescue seemed to be the end of Hilmax’s story, it was only the beginning. Like a phoenix rising from the ashes of its own destruction, Hilmax has begun its own journey of renewal and transformation. On 31 July 2025, Hilmax was bought by new shareholders under the supervision of the Corporate Rescue Practitioner and the authority of the Master of the High Court of Zimbabwe. The new shareholders took over the settlement of the Hilmax creditors and the dues to employees. They also undertook to provide the necessary working capital to bring the company back to an operational footing. For Hilmax, this was the birth of the journey of renewal and transformation. From mere survival, the focus shifted to revitalisation and the beginning of sustainable growth.

The new shareholders saw in Hilmax a company with enduring potential not only in its assets and operations but in the relationships it had cultivated over the years. It’s those relationships Hilmax wishes to revive and build on to stronger and higher levels than before. We are greatly encouraged by the fact that most of Hilmax’s long-standing partners remembered the value Hilmax had delivered in the past and that our outreach to re-establish business relationships with them has been met with trust and utmost professionalism. At the same time, new connections are being forged as we demonstrate renewed stability, purpose and a commitment to excellence. It is clear to us that Hilmax’s credibility has not been lost. It is ready to be built and expanded.

As the new shareholders, our focus and priority is very clear. This is to deal with every stakeholder, including employees, customers, suppliers and other business partners with honesty, integrity, transparency and consistency. These values will guide us on every step of the business rebuilding process and will shape the culture we are determined to entrench.

Rebuilding Hilmax will be an ongoing process. We are actively strengthening the governance and internal systems to ensure that accountability is embedded at every level of the organisation and that ethical practices are reinforced across the organisation. We would like to create a sustainable culture where trust and responsibility guide every decision we make.

One of our most critical challenges has been building trust and alignment across our team. Our employees are the heart of the whole organisation. Ensuring that they understand and embrace the company’s new direction has required open communication, consistent leadership and a clear demonstration of our own values in action. We are convinced that over time, as they see the organisation operating with integrity and purpose, confidence and commitment will be growing. While this has tested our rate of progress, we see it as part of renewal. Trust is not demanded; it is earned. Earning trust requires patience, fairness and consistent demonstration that integrity is not a slogan but a standard. Over time, as employees experience leadership that embodies these principles, confidence grows, and loyalties shift towards the Hilmax we are all building together.

Despite internal challenges, we are making significant strides. Our teams are reconnecting with clients, restoring confidence in our services and steadily reinforcing the Hilmax reputation for reliability and professionalism. Each success, large or small, strengthens the foundation on which we continue to build.

We are deeply grateful to the following:

  1. Our staff who have chosen to embrace our new direction
  2. Our clients who continue to trust us
  3. Our service providers and regulators who engage with us constructively
  4. Our suppliers who have warmly welcomed us back after the rescue status was lifted.

All these people’s collaboration is vital to our journey of transformation. Our recovery is powered by the people who believe, the teams who embraced change and are learning new systems and redefining what excellence means within the walls of Hilmax.

Our vision of the new Hilmax is to build an organisation that goes beyond just supplying goods and services. We would like to see a Hilmax that is at the forefront of the development of new and innovative industrial technologies, in tandem with worldwide technological developments. We want to offer solutions and development opportunities to Zimbabwe’s economy. Hilmax will deepen its presence in mining and industrial projects, introduce tech-driven service models and scale operations into regional markets. In short, Hilmax wants to be the partner of choice for engineering excellence in Zimbabwe and beyond.

What began as a rescue process has become a renewal process, rooted not in appearance but in principle. The road ahead remains challenging, but it is one we walk with clarity and conviction. Hilmax is still a work in progress, but it is also a work of purpose – proof that with transparency, honesty and resolve, even a turbulent past can lead to a stronger, more principled future.