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Zimbabwe’s Karo Deal Signals New Pitch for Mining Capital

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Zimbabwe is betting that a combination of long-term mining rights, targeted tax incentives and greater policy certainty can persuade investors to commit the large amounts of capital needed to develop its mineral resources, with senior ministers pointing to the Karo Platinum project as an example of that approach, Mining Zimbabwe can report.

By Ryan Chigoche

Speaking on the sidelines of Monday’s signing ceremony for Karo’s 25-year Special Mining Lease, Minister of Mines and Mining Development Dr Polite Kambamura and Minister of Finance and Investment Promotion Prof Mthuli Ncube separately highlighted the investment framework surrounding the project, from security of tenure to fiscal concessions and the Government’s stake in the mine.

Karo’s lease covers 23,903 hectares on Zimbabwe’s Great Dyke and gives the project an initial 25-year tenure under the Mines and Minerals Act. More than US$240 million has been invested in its development to date, according to the company, while the first phase is expected to involve close to US$1 billion in investment.

The significance of the agreement, however, extends beyond the tenure itself. For Government, the challenge is to create conditions under which investors can commit capital to projects whose returns depend on decades of mining.

Kambamura said the lease establishes the fiscal and operational framework that Karo needs to raise further funding.

“Number two, it confers the long-term tenure to Karo Platinum with regard to the 23,903-hectare concession that they have,” Kambamura said.

“Also, it establishes the fiscal and operational framework which allows the company to get more funding for the establishment of the project.”

He said the agreement provided the certainty required by investors and demonstrated Zimbabwe’s willingness to offer security of tenure for long-term mining projects.

“And finally, it provides that certainty that is needed by investors,” Kambamura said.

“So, this is actually a testament enough that Zimbabwe is open for business and the security of tenure is provided.”

That certainty is being reinforced by Treasury through a package of fiscal incentives attached to the Special Mining Lease.

Ncube said the incentives are intended to help Karo raise additional capital, continue investing and improve the viability of the project.

Among them are tax write-offs during the first five years, allowing the investor to recover part of its initial capital expenditure, as well as special tax exemptions for employees to help attract skilled personnel.

“These come with Special Mining Leases regarding tax write-offs in the first five years. To allow them to invest and recoup what they have invested,” Ncube said.

The arrangement illustrates the trade-off Government is making to attract capital into a capital-intensive project: provide relief during the early investment and recovery period while retaining defined fiscal and equity interests as the mine develops.

The lease maintains a 7% royalty on platinum, according to Ncube.

“So, that is very clear in the lease agreement that ought to be met,” he said.

“We feel that it is the right combination of fiscal incentives to support this investment.”

Government Keeps a Stake

The State is also retaining exposure to the project’s long-term returns.

Ncube said Government holds a 15% free-carried interest in Karo, with an option to acquire a further 11%, potentially taking its stake to 26%.

“And that is a very good position to be in as a shareholder and as government,” he said.

The additional option should not be confused with an existing 26% holding: the Government currently has the 15% interest, with the further 11% subject to the option.

For Zimbabwe, the structure combines fiscal participation with direct equity exposure while leaving the developer and its investors responsible for the capital required to advance the project.

PGMs Gain Strategic Weight

The Karo agreement also comes as Government gives greater strategic weight to platinum-group metals.

Ncube referred to the new classification of PGMs as critical minerals under the Government’s evolving minerals policy, adding another dimension to the Karo investment.

The classification places the project within a broader effort to prioritise minerals considered strategically important to Zimbabwe, at a time when the country is seeking to expand production and extract more value from its mineral resources.

For Karo, that strategic positioning comes on top of a resource base that the company says includes an open-pit reserve of 2.1 million ounces of PGMs on a 4E basis, with a mineral resource of 11.2 million ounces, and potential underground mining supporting a mine life of more than 50 years.

Investment Expected to Extend Beyond the Mine

Ncube said the project is expected to create about 3,000 jobs at peak and stimulate development in the surrounding area, with investment in infrastructure and supporting economic activity potentially driving the emergence of new urban centres.

The expected impact extends beyond platinum production, with Government viewing the project as a potential catalyst for employment, infrastructure development and broader economic activity around the mine.

Kambamura also pointed to Karo’s development since 2018 as evidence of the patient capital required for large-scale mining projects. With a potential mine life of more than 50 years, he said the project required a strong foundation capable of supporting investment over several decades.

The 25-year lease now provides that initial legal and fiscal framework, leaving Karo to move into the next stage of development and convert the capital committed to the project into production and wider economic benefits.

Hopes Fade for Youth as Lithium Riches Flow Past their Doorstep

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SUSWE, MUDZI DISTRICT, MASHONALAND EAST — The dust from passing trucks hangs over the unpaved road as we walk through Mkoko Village, a community neighbouring Machipisa Village, where Benson Mine is extracting lithium, Mining Zimbabwe can report.

By Rudairo Mapuranga

Tanatswa Mudzudza points towards the mining operation with a mixture of resignation and frustration.

“This is where I used to work,” he says.

For about two months, Mudzudza was employed at Benson Mine. Like many young people in the surrounding communities, he saw the job as an opportunity to earn an income, support his family and begin building a more secure future.

Then the mine stopped operations for what workers were told was maintenance.

When operations resumed, Mudzudza and some of the workers who had been employed during that period were not called back.

For Mudzudza, the brief opportunity has become a reminder of how close the benefits of Zimbabwe’s lithium boom can appear while remaining out of reach for communities living alongside mining operations.

Back in Mkoko Village, Mudzudza’s responsibilities extend beyond finding work.

His grandfather is blind, while his grandmother is elderly, leaving him with significant responsibilities at home.

He had hoped employment at the mine would allow him to support his family while investing in livestock and other agricultural activities.

“I desire at least to be employed and be able to buy livestock and do other business in the agricultural space,” he says.

Instead, he remains unemployed while mining activity continues a short distance away.

“The pay that they were paying us, we believe, is not enough,” Mudzudza says. “When you compare with the resources that come out of the mine, we are getting nothing.”

His frustration is not simply about the loss of one job. It reflects a broader question facing communities surrounding Zimbabwe’s rapidly expanding lithium industry: how much of the economic opportunity created by mining reaches the people living closest to the deposits?

Zimbabwe has emerged as an important lithium producer as demand for minerals used in batteries and other clean-energy technologies grows globally.

But in Mkoko Village, the conversation is less about global demand and more about basic needs.

Residents point to the condition of the road, which becomes difficult to use during heavy rains, and the need for reliable water infrastructure.

Mudzudza says a borehole would make a significant difference to the community.

Residents have also raised concerns about the condition of water sources and the effects of mining activity on their surroundings. Such concerns require an independent environmental assessment to establish the extent and cause of any contamination.

For Mudzudza, however, the most immediate concern is employment.

“We wish that we benefit from the resources in our area,” he says. “For us to benefit, it’s for the mine to employ us so that we can be able to look after our old people.”

Beyond jobs

The concerns raised in Mkoko go beyond direct employment.

ActionAid Zimbabwe, which has documented concerns affecting communities around mining operations, argues that women and young people should have meaningful opportunities to benefit from mineral extraction through employment, local procurement, enterprise development and participation in decision-making.

The organisation has also advocated for stronger accountability where mining activities affect communities and livelihoods.

The argument is increasingly important as Zimbabwe seeks to position itself as a major supplier of critical minerals to the global energy transition.

For communities such as Mkoko, the question is whether the transition to a greener global economy can also produce better livelihoods for the people living around the mines.

Mining Zimbabwe sought comment from Benson Mine on the employment concerns raised by Mudzudza, as well as questions surrounding community development and the concerns raised by residents.

The mine’s assistant manager said he needed to consult the mine manager before providing a response. The mine manager had not responded to Mining Zimbabwe’s queries by the time of publication.

That leaves Mudzudza and other residents waiting for answers as mining continues in neighbouring Machipisa Village.

Standing near the mining area, he watches trucks move between the operation and the surrounding roads.

For a young man living next door to a mine extracting a mineral attracting international investment, his expectations are modest.

“I desire to at least be employed,” he says.

For Mudzudza, the lithium beneath the ground represents more than a commodity feeding the global energy transition. It represents a possibility of work, dignity and the ability to support the family members who depend on him.

The challenge for Zimbabwe is ensuring that possibility does not remain buried beneath the ground—or flow past the communities that live above it.

Gold buying prices in Zimbabwe per gram/ ounce, 25 August 2026

Gold buying prices in Zimbabwe per gram/ ounce, 25 August 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

Gold categoryUS$/gUS$/troy oz
SG 90% and above$140.34$4,365.06/oz
SG 85% and above but below 90%$138.86$4,319.03/oz
SG 80% and above but below 85%$137.37$4,272.68/oz
SG 75% and above but below 80%$135.89$4,226.65/oz
Sample 5g and above but below 10g$133.66$4,157.29/oz
Fire Assay Cash$141.08$4,388.08/oz

 

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.

#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

Karo Platinum Secures 25-Year Lease, Clearing Key Hurdle for the Zimbabwe Project

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Karo Platinum has secured a 25-year Special Mining Lease from Zimbabwe, removing a key hurdle to the development of one of the largest undeveloped platinum-group metals projects on the Great Dyke and giving investors greater certainty over the project’s fiscal and operating framework, Mining Zimbabwe reports.

By Ryan Chigoche

The agreement was signed at State House in Harare on Monday in the presence of President Emmerson Mnangagwa, underscoring the Government’s strategic interest in a project that could become a significant new source of platinum-group metals production.

The lease, granted under the Mines and Minerals Act, covers 23,903 hectares and establishes the tenure and fiscal terms under which Karo Platinum will advance towards first production.

For Tharisa Plc, which controls Karo Mining Holdings, the agreement marks the latest step in moving Karo from a large-scale construction project towards production after more than US$240 million of investment.

“The signing of this Special Mining Lease Agreement is a defining milestone for Karo Platinum and for Tharisa’s growth strategy,” Tharisa Chief Executive Officer Phoevos Pouroulis said.

“It gives us the long-term security of tenure and fiscal certainty needed to advance a project of this scale and strategic importance, while reinforcing the Government of Zimbabwe’s commitment to the responsible development of its mineral endowment.”

The agreement comes as Zimbabwe seeks to attract more long-term capital into its mining industry while expanding production from its mineral-rich Great Dyke.

Karo is one of the largest undeveloped PGM assets on the geological formation, which is second only to South Africa’s Bushveld Complex in terms of PGM-bearing potential.

The project has an open-pit Mineral Reserve of 2.1 million ounces on a four-element basis and a Mineral Resource of 11.2 million ounces. Potential underground mining could extend the operation beyond the initial open-pit development and support a mine life of more than 50 years.

Phase One is designed to produce about 226,000 ounces of PGMs a year once fully ramped up and employ more than 1,000 people, putting the project among the more significant additions to Zimbabwe’s mining pipeline.

For the Government, the lease also provides a framework for capturing value from a project in which it holds a direct stake.

Karo Platinum is 85% owned by Karo Mining Holdings, with the remaining 15% held by the Zimbabwean Government through Generation Minerals on an unencumbered free-carried basis.

The structure gives the State exposure to the project’s economics without requiring it to fund its equity interest.

Mines and Mining Development Minister Polite Kambamura said the agreement reflected continued investor confidence in Zimbabwe’s mineral resources.

“The signing of this Special Mining Lease Agreement marks a proud and progressive moment for Zimbabwe’s mining sector. It reflects the confidence that responsible investors continue to place in our country, our people and the immense potential of the Great Dyke.”

He said Karo’s development could help unlock investment, jobs and skills while contributing to economic growth.

“The Karo Platinum Project is an important national development asset, and this agreement provides the long-term certainty required to unlock investment, create employment, build skills and contribute meaningfully to economic growth.”

Karo’s development has already moved beyond the planning stage. Construction began in December 2022, while pilot mining started in June 2023. More than US$240 million has since been invested in processing infrastructure, mining equipment, water and power infrastructure, and community programmes.

That investment has continued despite volatile PGM prices and challenging market conditions, making the lease an important milestone in reducing the remaining development risk.

Karo Platinum Chairman Kumbirayi Katsande said the agreement would strengthen the project’s investment case while demonstrating Zimbabwe’s ability to provide greater certainty for large-scale mining developments.

“This agreement is an important milestone not only for Karo Platinum, but for Zimbabwe’s mining sector and investment climate.”

“The Special Mining Lease supports the long-term certainty required to progress a project of this national significance, while demonstrating Zimbabwe’s commitment to attracting responsible, long-term investment into its mineral resource base.”

The focus now shifts to advancing Karo towards production under the newly established long-term framework.

For Tharisa, the project’s importance extends beyond Zimbabwe. Karo is expected to form a central part of the group’s growth strategy through 2030, with its planned production providing an additional source of PGMs as the company expands its mining portfolio.

“With Phase 1 designed to employ over 1,000 people while delivering 226 koz of PGMs per annum, Karo Platinum remains central to Tharisa’s 2030 strategy,” Pouroulis said.

For Zimbabwe, the project represents another major development on the Great Dyke and a potential long-life source of export earnings, employment and mining-sector investment.

The 25-year lease does not by itself mark the end of Karo’s development risk, but it removes one of the critical uncertainties surrounding tenure and fiscal terms. The next test will be whether the project can convert that certainty into construction progress, financing and ultimately commercial production.

Financing Becomes the Next Test

With the tenure and fiscal framework now settled, Karo Platinum’s next major hurdle is financial rather than regulatory.

The agreement gives potential lenders a clearer basis for assessing the project’s long-term cash flows and repayment capacity, potentially widening the pool of financing available for Phase One. That could include commercial banks, development-finance institutions and strategic investors.

The company has not disclosed a new financing package alongside the lease agreement, leaving the funding of the remaining development as the next key milestone.

For Tharisa, the challenge is now to convert the project’s substantial resource base and newly secured tenure into a financeable development capable of reaching its targeted 226,000 ounces of annual PGM production.

In that sense, Monday’s agreement may be less the conclusion of Karo’s de-risking process than the point at which the project enters its next phase: turning regulatory certainty into capital and, ultimately, production.

Who was Present

  • President Emmerson Mnangagwa
  • Minister of Mines and Mining Development Dr (Eng) Polite Kambamura
  • Ministry of Finance, Economic Development and Investment Promotion Prof Mthuli Ncube
  • Phoevos Pourolis – Tharisa Group CEO and Karo Mining Holdings Board Chairman.
  • Bernie Pryor – Karo Mining Holdings Managing Director.
  • Josephat Zimba – Karo Platinum Country Director
  • Kumbirayi Katsande – Karo Platinum Board Chairman
  • Rumbidzai Gakanje – Karo Platinum Finance Director

Mimosa Output Falls 6% as Power Cuts, Complex Geology Weigh on Production

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Mimosa Mining Company’s 6E concentrate production fell by 6% to 239,100 ounces in the financial year ended 30 June 2026, with intermittent power interruptions and increasingly complex geology affecting processing stability at the Zimbabwean platinum operation, Mining Zimbabwe can report.

By Rudairo Mapuranga

According to production figures released by major shareholder Impala Platinum Holdings Limited (Implats), Mimosa’s 6E concentrate volumes declined from the previous year as mining activities moved towards the extremities of the orebody.

Implats said processing stability was affected by intermittent power interruptions during the year, while the operation also encountered increased volumes of oxidised ore as mining progressed through more complex geological conditions.

The production decline comes as Mimosa’s existing mining area matures, increasing the importance of the company’s plans to develop the North Hill project as a longer-term replacement for its current South Hill operations.

North Hill Project Revived

Mimosa is reviving its approximately US$130 million North Hill life-extension project, which was placed on hold in 2024 amid weak platinum-group metals prices and challenging operating conditions.

The project is designed to replace the existing South Hill operation and potentially extend Mimosa’s mine life by about 15 years.

Mimosa General Manager Stephen Ndiyamba said the project could provide a significant extension to the operation’s productive life.

“This has the potential to replace our current operations at South Hill and increase life of mine by about 15 years,” Ndiyamba said.

North Hill was previously suspended as Mimosa responded to weaker PGM prices and rising operating pressures. At the time, the company said the project could not be justified under the prevailing market conditions.

The revival of the project signals a more positive outlook for Mimosa’s longer-term investment plans as PGM market conditions improve.

Production Pressures

Mimosa’s weaker output reflects both operational and geological pressures.

The mine processed 2.87 million tonnes during the year, down 1.4%, while the average 6E grade declined by 1.9% to 3.54 grams per tonne.

The combination of lower tonnes milled, lower grades, power interruptions and increased oxidised ore weighed on concentrate production.

The challenges highlight the importance of developing replacement mining areas as Mimosa progresses towards the limits of its current orebody.

For Zimbabwe’s PGM industry, the North Hill investment could therefore become an important long-term development, providing Mimosa with additional operating life while supporting continued production from one of the country’s established platinum operations.

Implats said its full financial results for the year ended 30 June 2026 are scheduled for release on 3 September 2026.

103 Small-Scale Miners Graduate from How Mine Safety Training

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A total of 103 small-scale miners in Umzingwane have graduated from a practical mining safety training programme conducted by Namib Minerals’ How Mine, in an initiative aimed at improving safety standards and supporting the formalisation of the sector, Mining Zimbabwe can report.

By Rudairo Mapuranga

The first cohort received certificates at a graduation ceremony held in Esigodini, with National Assembly Member for Umzingwane and Deputy Minister of Defence, Brigadier-General (Rtd) Levi Mayihlome, officiating.

The inaugural programme focused on practical skills designed to help small-scale miners identify and manage common risks associated with mining operations.

Training covered ground support, hazard identification, shaft flooding prevention, emergency response, underground gas testing and regulatory compliance.

Participants were also introduced to the processes involved in registering mining claims and obtaining the necessary blasting qualifications and licences.

Brig-Gen (Rtd) Mayihlome said mining presented significant economic opportunities but required adequate knowledge, equipment and safety systems to minimise risks.

He said the decision to work with How Mine was informed by the value of practical experience gained through operating an established mine.

“We approached How Mine because we recognised the value of practical experience. There is knowledge that can be found in textbooks and classrooms, but there is also invaluable knowledge that comes from years of operating a mine, managing workers, dealing with mining risks and implementing safety systems,” he said.

Mayihlome commended Namib Minerals for making How Mine’s technical expertise available to miners in surrounding communities, saying such partnerships could help address the cost and accessibility challenges associated with formal mining training.

“How Mine has generously made its expertise available to our artisanal miners. We are particularly grateful for this demonstration of selfless corporate social responsibility. Your contribution goes beyond providing training; you are contributing to safer communities,” he said.

How Mine Manager Ophir Gwede said the programme was designed to address practical knowledge gaps among small-scale miners and reduce preventable accidents.

“How Mine’s goal is to bridge the knowledge gap, minimise preventable operational hazards, and empower local miners with the tools and regulatory insights required to operate safely, legally, and sustainably,” Gwede said.

The training comes as the Government continues efforts to formalise artisanal and small-scale mining and improve safety across the sector.

Small-scale mining remains an important source of livelihoods and mineral production in Zimbabwe, but operators often face challenges relating to technical skills, access to finance, appropriate equipment and compliance with mining regulations.

Mayihlome also highlighted Namib Minerals’ wider community initiatives in Umzingwane and Bulawayo, including the construction of classroom blocks, clinic electrification, provision of borehole water and donations of medical equipment to public hospitals.

Namib Minerals is also expanding its operations at How Mine while pursuing the restart of its Redwing Mine in Penhalonga and Mazowe Mine, increasing its footprint in Zimbabwe’s gold sector.

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

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

1 oz = 31.1035 g

Gold CategoryUS$/gramUS$/oz
SG 90% and above$139.57$4,341.11
SG 85% and above but below 90%$138.10$4,295.39
SG 80% and above but below 85%$136.62$4,249.36
SGF/SG 75% and above but below 80%$135.14$4,203.32
Sample 5g & above but below 10g$132.93$4,134.59
Fire Assay Cash$140.31$4,364.13

 

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.

#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery

DISCO Says it does not view South Africa as Steel Competition

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Dinson Iron and Steel Company (DISCO), the Zimbabwean steel producer owned by China’s Tsingshan Holding Group, does not regard South African steel producers as a major competitive threat, despite South Africa currently taking the largest share of output from its Manhize plant, Mining Zimbabwe can report.

By Rudairo Mapuranga

DISCO Chief Executive Officer Benson Xu told the Parliamentary Portfolio Committee on Mines and Mining Development that the company believes its cost structure and access to local raw materials give it a strong competitive position in the regional market.

The confidence comes as DISCO’s Phase One operation at Manhize produces about 600,000 tonnes of steel annually, with the company indicating that approximately 60% of its output is currently going to South Africa.

That translates to about 360,000 tonnes a year at full Phase One capacity, making South Africa DISCO’s largest export market. Other production is supplied to Zimbabwe and regional markets such as Zambia.

For Xu, however, South Africa is not the competition.

“We do not see South Africa as a competition to us.”

The statement is significant because South Africa has historically been one of Zimbabwe’s major sources of steel, while its steel producers have also supplied markets across the wider region.

The emergence of Manhize is beginning to reverse that relationship, with Zimbabwean-produced steel now entering the South African market in significant volumes.

Raw Material Advantage

Xu attributes DISCO’s confidence partly to the location of the Manhize operation.

The company’s iron ore resource is located approximately 10 kilometres from the steel plant, substantially reducing the distance over which the primary raw material has to be transported.

DISCO also has access to coking coal from Hwange through its sister company, Dinson Colliery.

The combination gives the operation an integrated raw material supply chain, potentially reducing logistics costs and exposure to external supply disruptions.

For a steel producer operating at scale, these logistical advantages can be significant because iron ore and coal are required in large quantities.

South Africa Is a Customer, Not Simply a Competitor

The fact that around 60% of DISCO’s production is being directed to South Africa gives Xu’s position an important commercial context.

DISCO is not merely arguing that it could compete with South African producers in the future. Its products are already finding buyers in the South African market.

That creates an unusual dynamic in the regional steel industry.

Zimbabwe, which has historically imported steel from South Africa, is now supplying substantial quantities of steel to South African customers.

The development reflects the changing industrial relationship between the two neighbouring economies.

South Africa remains a major and established steel-producing country, with an extensive industrial base and established customers. DISCO’s emergence does not eliminate that competition.

However, the fact that South African buyers are taking a significant share of Manhize’s output suggests that Zimbabwean steel has established a foothold in a market where domestic producers are already present.

Beyond South Africa

While South Africa is currently the dominant destination for DISCO’s exports, the company is also targeting other regional markets.

Zambia and other SADC economies provide potential growth markets as demand for steel increases alongside mining, construction, infrastructure and industrial development.

Zimbabwe’s central position in the region also gives Manhize an opportunity to serve markets that would otherwise rely on steel transported from more distant production centres.

The company’s long-term opportunity is therefore not limited to South Africa. It is to build Zimbabwe into a regional steel production and distribution hub.

The Bigger Industrial Opportunity

The Manhize project is also significant because of its potential impact beyond steel.

Zimbabwe has long sought to move away from exporting minerals in raw or semi-processed form and importing finished industrial products.

A large domestic steel industry provides the foundation for downstream manufacturing, including fabricated steel products, engineering components, construction materials and machinery.

That could create new demand for local mining, transport, engineering and manufacturing companies while reducing the country’s dependence on imported industrial inputs.

For Tsingshan, the Manhize investment therefore represents more than a steelmaking operation. It forms part of a broader industrial and mineral beneficiation strategy in Zimbabwe.

The key test will be whether DISCO can maintain its cost advantages as production expands while ensuring reliable power, transport, product quality and access to regional markets.

But the direction of trade is already changing.

Zimbabwe is no longer only buying steel from South Africa. It is increasingly selling steel into South Africa.

And for Xu, the confidence of the Manhize operation is such that the country’s largest regional steel market is viewed not primarily as a threat, but as one of its biggest customers.

Ministry of Mines Chases US$31 Million in Outstanding Title Fees

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The Ministry of Mines and Mining Development is owed approximately US$31 million in outstanding mining title fees, Permanent Secretary Dr Thomas Utete Wushe has said, urging title holders to settle their arrears or engage the ministry on payment arrangements, Mining Zimbabwe can report.

By Rudairo Mapuranga

Dr Wushe made the remarks on 20 August 2026 during a visit to the ministry’s Provincial Mining Office in Mashonaland Central, where he called on officials to intensify engagement with mining title holders over outstanding payments.

“We are giving miners up to 31 August 2026 to pay their outstanding fees,” Dr Wushe said.

The outstanding amount relates to fees payable by holders of mining titles, with the arrears having accumulated to approximately US$31 million.

Dr Wushe said title holders facing genuine difficulties in settling their obligations should approach the ministry and formally outline how they intend to clear their arrears.

“Those who cannot meet the deadline should write to the Ministry outlining how they intend to settle their arrears,” he said.

“We are reasonable. We will engage with those who come forward with clear payment plans.”

Ministry Links Revenue to Service Delivery

Dr Wushe said payment of title fees was important to the ministry’s ability to deliver services to the mining sector.

“For service delivery to be smooth and great, miners must pay. We cannot continue to provide services when revenues are not coming in,” he said.

The remarks come as the ministry seeks to improve compliance among mining title holders and strengthen revenue collection across the sector.

Provincial Mining Offices have been identified as the first point of engagement for title holders seeking to establish their outstanding balances and regularise their accounts.

Dr Wushe also directed ministry officials to take a proactive approach by engaging title holders rather than waiting for them to approach government offices.

“Go out there and encourage miners to pay before the deadline. We want to see compliance, not confrontation,” he said.

The ministry’s position allows title holders who are unable to immediately clear their arrears to formally communicate with government and propose a mechanism for settling their outstanding obligations.

With title fee arrears now standing at approximately US$31 million, the ministry is seeking to recover the outstanding revenue while maintaining engagement with mining companies and other title holders across the sector.

Gold buying prices in Zimbabwe per gram/ ounce, 21 August 2026

Gold buying prices in Zimbabwe per gram/ ounce, 21 August 2026, from the official gold buyer and exporter, Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice (US$/g)Price (US$/oz)
SG 90% and Above$136.97$4,260.24
SG 85% and Above but Below 90%$135.52$4,215.14
SG 80% and Above but Below 85%$134.07$4,170.04
SGF/SG 75% and Above but Below 80%$132.62$4,124.94
Sample 5g & Above but Below 10g$130.45$4,057.45
Fire Assay Cash$137.69$4,282.64

 

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.

#GoldPrices #GoldBuying #GoldMarket #GoldTrading #GoldRate #GoldPriceToday #GoldNews #PreciousMetals #GoldIndustry #GoldEconomy #FidelityGoldRefinery