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Mining Indaba – Why It Matters to Zimbabwe’s Mining industry

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Every February, the global mining industry converges in Cape Town for Investing in African Mining Indaba, the continent’s most influential mining investment conference. For Zimbabwe, participation in Mining Indaba is not ceremonial, it is strategic, economic, and increasingly critical to the country’s mining future.

By Keith Sungiso

Mining contributes more than 60% of Zimbabwe’s export earnings and remains the backbone of industrial growth, foreign currency generation, and employment. Mining Indaba offers Zimbabwe a unique, high-impact platform to engage global capital, policymakers, and technical partners in one place, at one time.

A Gateway to Capital in a Competitive Market

Africa is competing aggressively for a limited global share of mining capital. At Mining Indaba, Zimbabwe sits alongside jurisdictions such as the DRC, Zambia, Namibia, Ghana, and Botswana, which are all pitching for investment dollars. The event allows Zimbabwe to present its geological potential, policy reforms, and investment-ready projects directly to institutional investors, mining houses, development finance institutions, and private equity firms.

With capital discipline tightening globally, visibility matters. Mining Indaba allows Zimbabwean projects, particularly in gold, lithium, platinum group metals, chrome, and coal, to move from boardroom concepts to live investment conversations.

Policy Signalling and Investor Confidence

Mining Indaba is also where governments signal intent. For Zimbabwe, ministerial participation offers an opportunity to clarify policy direction, address investor concerns, and demonstrate commitment to stability and reform. Issues such as royalty structures, beneficiation, currency risk, licensing, and security of tenure are not theoretical, they are debated face-to-face with decision-makers who control capital flows.

Clear, consistent messaging at Mining Indaba can shift perceptions faster than policy documents alone. In an industry where confidence is everything, direct engagement helps narrow the trust gap.

Your chance to access high-quality investors

Mining Indaba offers Zimbabwean miners, service providers and mining suppliers a rare opportunity to connect directly with high-quality investors, strategic partners, and off-takers actively seeking viable African projects and service partnerships.

For miners, the platform opens doors to funding discussions with institutional investors, private equity firms, and development financiers looking for scalable, well-structured opportunities. For suppliers and contractors, it creates access to partnerships with major mining houses, EPCs, and technology providers seeking reliable local and regional collaborators. In a capital-constrained environment, Mining Indaba compresses months of outreach into a few days, turning visibility into real conversations that can unlock investment, joint ventures, and long-term commercial relationships.

Critical for Lithium and Energy Transition Minerals

Zimbabwe’s lithium sector has placed the country firmly on the global energy transition map. Mining Indaba is a key venue for battery manufacturers, automakers, and downstream processors seeking secure supply chains. For Zimbabwe, it is an opportunity to position itself not just as a raw material exporter, but as a future hub for value addition, refining, and regional processing.

The same applies to platinum, nickel, rare earths, and graphite minerals that are increasingly shaped by geopolitics and supply security rather than price alone.

Networking Beyond Deals

While investment deals are important, Mining Indaba’s value extends beyond transactions. Zimbabwean miners, suppliers, engineers, consultants, and regulators gain exposure to global best practice in ESG, mine safety, digitisation, financing structures, and community relations. These interactions influence how mines are planned, financed, and operated long after the conference ends.

For local mining companies, it is also a chance to benchmark themselves against continental peers and build partnerships that would be difficult to access from Harare alone.

Reframing Zimbabwe’s Mining Narrative

Perhaps most importantly, Mining Indaba allows Zimbabwe to tell its own story. For years, narratives around risk and policy uncertainty have overshadowed the country’s exceptional mineral endowment. Indaba provides a controlled environment where Zimbabwe can present progress, explain reforms, and highlight success stories directly to the global market.

As competition for capital intensifies and the energy transition accelerates, Zimbabwe cannot afford to be absent from platforms that shape Africa’s mining investment agenda.

For Zimbabwe’s mining industry, Mining Indaba is not just another conference, it is a gateway to capital, credibility, and long-term growth.


Mining Zimbabwe is distributing Edition 85 at Mining Indaba 2025. Get in touch with us for advertising opportunities on +263775523000 or email: [email protected].

Premier Secures Canmax Deadline Extension as Zulu Lithium Faces Creditor and Funding Pressure

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London Stock Exchange–listed mining and exploration company Premier African Minerals Limited has secured a critical extension to its long stop date under the Restated Offtake and Prepayment Agreement with Canmax Technologies Co., Ltd, offering the company temporary breathing room as financial and legal pressures mount around its flagship Zulu Lithium and Tantalum Project in Fort Rixon, Mining Zimbabwe can report.

By Rudairo Mapuranga

The extension comes days after Premier disclosed enforcement action by JR Goddard Contracting, which has moved to attach movable assets at Zulu Lithium in pursuit of more than US$2.2 million under a High Court writ. Together, the developments underscore the fragile balance Premier is attempting to maintain between creditor management, operational stabilisation, and funding negotiations.

Under the amended agreement, the long stop date has been extended from 31 December 2025 to the earlier of 30 June 2026 or the date on which a reputable buyer acceptable to Canmax enters into a binding agreement to settle or manage Canmax’s prepayment exposure, including accrued interest.

While Premier has welcomed the extension, the revised terms also increase Canmax’s oversight and leverage. Notably, the requirement for Premier to procure a non-binding expression of interest within 30 days has been removed, easing immediate pressure, but this has been replaced by stricter governance and security conditions.

These include a clause preventing current office bearers at both Premier and Zulu Lithium from resigning or being removed without Canmax’s prior written consent during the extension period, effectively giving the offtake partner veto power over leadership changes at a sensitive time.

Premier is also required to maintain the full security package agreed in December 2024, reinforcing Canmax’s position as a secured counterparty.

Managing Director Graham Hill described the extension as providing “welcome clarity,” but for investors, the announcement is a double-edged sword.

On one hand, the agreement reduces the immediate risk of Canmax enforcing its rights under the prepayment structure before the end of 2025, an outcome that could have been devastating for Premier given its current liquidity position.

On the other hand, the conditions highlight the extent to which Premier remains financially constrained and dependent on creditor goodwill, particularly as it seeks to bring the Xinhai flotation plant into operation and demonstrate consistent commercial production at Zulu.

Zulu Lithium remains the linchpin of Premier’s future, yet it is currently:

  • Subject to asset attachment risk from JR Goddard Contracting
  • Dependent on interim equity raises and debt-to-equity conversions
  • Under technical remediation following third-party plant audits
  • Required to meet production milestones to unlock refinancing or offtake restructuring options

Market observers note that while the Canmax extension buys time, it does not resolve the underlying issue: Zulu must deliver stable production quickly, or Premier risks further dilution, enforcement actions, or loss of strategic control.

The coming months will be critical. Failure to meet the conditions of the amended agreement would allow Canmax to immediately exercise its rights, potentially compounding the company’s already complex creditor landscape.

For now, Premier has avoided an immediate escalation with its largest offtake partner, but with enforcement proceedings active elsewhere, investor confidence will hinge on whether the Zulu turnaround can finally translate into sustained output.

Zimbabwe’s Royalty Revision Secures Bilboes Project’s US$484 Million Future

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Multi-listed, gold-focused miner Caledonia Mining Corporation Plc has confirmed that the enacted Zimbabwe Finance Act of 2025 has formally cemented a favourable revision to the gold royalty regime, providing critical fiscal certainty for its flagship US$484 million Bilboes Gold Project, Mining Zimbabwe can report.

By Rudairo Mapuranga

The new law confirms the withdrawal of earlier, more punitive budget proposals that had threatened the project’s economics.

The key change, now signed into law, is the structure of a sliding-scale royalty for large-scale miners. The 10% top rate will now only apply when the gold price exceeds US$5,000 per ounce, a threshold far above current and historical market levels. This marks a significant retreat from the original 2026 budget statement in late November, which proposed the 10% rate kicking in at a price of just US$2,501 per ounce.

In its announcement, Caledonia stated that “no amendments are therefore required” to the Bilboes Project’s Technical Report Summary, which was published on November 25, 2025. This confirms that the project’s financial model and projected returns remain intact under the new fiscal terms.

“The enacted provisions confirm the position outlined in the announcement of December 19, 2025,” Caledonia stated. “Specifically, the higher royalty rate of 10% will only apply if the gold price exceeds US$5,000 per ounce, and the other proposed changes to the tax and royalty regime that were highlighted in the announcement of December 1, 2025 have been withdrawn.”

This finality removes a major investment risk that had clouded the project since the initial budget announcement.

The government’s policy shift is a direct result of concerted advocacy from the mining industry. The original proposal triggered immediate warnings from the Chamber of Mines and the Zimbabwe Miners Federation (ZMF), who argued it would render large-scale projects marginal and deter future investment.

By raising the 10% threshold to US$5,000—a price gold has never reached—the government has effectively created a royalty system that provides revenue upside only in an extreme bullion scenario, while maintaining a competitive base for investment. The 5% rate for prices between US$1,200 and US$5,000 aligns with regional norms and ensures project viability.

For Bilboes, a project designed to produce over 170,000 ounces of gold annually, the difference between a 10% royalty at US$2,500/oz and at US$5,000/oz is profound. It preserves the projected cash flows that underpin the project’s half-billion-dollar valuation and its potential to become one of Zimbabwe’s largest gold mines.

The swift government response to industry feedback and its decision to enact the more moderate regime is being viewed as a positive signal to foreign investors. It demonstrates a pragmatic approach to resource nationalism, seeking to balance fiscal needs with the capital-intensive nature of major mining projects.

With the fiscal framework now settled, Caledonia can accelerate its funding and development plans for Bilboes, moving the project closer to a construction decision. The project represents one of the single largest potential investments in Zimbabwe’s mining sector and is a cornerstone of the government’s ambition to grow gold output to 100 tonnes annually.

The resolution underscores a fundamental principle in resource economics: stability and competitiveness in fiscal policy are paramount to unlocking long-term, capital-intensive investments that ultimately deliver greater and more sustainable value to both shareholders and the nation.

Gold buying prices in Zimbabwe per gram/ ounce, 5 January 2026

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Gold buying prices in Zimbabwe per gram/ ounce, 1 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 above132.254,127.52
SG 85% and above but below 90%130.854,084.09
SG 80% and above but below 85%129.454,040.23
SG 75% and above but below 80%128.053,996.66
Sample 5g and above but below 10g125.953,931.03
Fire Assay CASH132.954,149.30

 

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 January 2026

Gold buying prices in Zimbabwe per gram/ ounce, 1 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 above132.704,127.52
SG 85% and above but below 90%131.304,084.09
SG 80% and above but below 85%129.894,040.23
SG 75% and above but below 80%128.493,996.66
Sample 5g and above but below 10g126.383,931.03
Fire Assay CASH133.404,149.30

 

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.

Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) End-of-Year Press Statement 2025

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Harare, December 31, 2025 – As the curtain falls on a tumultuous 2025, the Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) reflects on a year of profound struggles and unyielding resilience among mine workers who fuel Zimbabwe’s mining powerhouse.
Despite their tireless labour driving national economic growth, mine workers faced systemic exploitation, hazardous conditions, and policies that eroded their dignity.

Today, we honour their sacrifices and boldly chart a path forward under our rallying theme: Building Union Power, Strengthening Workers’ Voices in Solidarity, and Advancing Justice.

Enduring Challenges of 2025

Mine workers confronted a cascade of hardships that turned prosperity into peril.

Inflation-ravaged wages, already meagre, crumbled under relentless economic pressures, leaving families unable to afford basics like food, healthcare, and education.

Over-taxation compounded this misery, devouring what little remained of low salaries and pushing thousands into debt.

Job insecurity loomed large because of rampant casualisation of labour, where workers are signing short fixed-term contracts, some retrenchments, and months-long salary arrears at operations like RioZim operations, Anjin, and other mines.

Fatal accidents and injuries plagued unsafe workplaces, where inadequate safety gear, poor ventilation, and lack of oversight claimed countless lives, particularly in small-scale operations. In large mines, ventilation challenges are causing chronic health issues such as silicosis and respiratory diseases.

Safety and health in the mining sector remain dire, with absent medical insurance for the majority of mine workers, exposure to toxic chemicals, and no comprehensive occupational health programmes exacerbating worker suffering.

Retired workers, and those retiring, who dedicated decades to the industry faced numerous challenges, including victimisation and harassment, lack of decent pension benefits, and respect—their loyalty repaid with eviction threats and lack of alternative decent homes.

Strikes broke out as workers downed tools in desperation in some mines across the country, exposing gross unfair labour practices perpetrated against workers. Despite mining’s billions in exports, workers reaped poverty, embodying a stark betrayal of their contributions.

Welcoming the Incoming Minister of Mines

ZDAMWU welcomes the statement by the incoming Minister of Mines, Polite Kambamura, who has indicated a commitment to consult all stakeholders in shaping the sector’s future.

This pledge offers a glimmer of hope, and we earnestly urge the Minister to ensure mine workers are not sidelined but given a meaningful chance to be involved. True transformation demands workers’ direct input at the table—our lived experiences of exploitation and resilience must inform policies that deliver justice, not just promises.

Bold Plans for 2026

Building Union Power

Entering 2026, ZDAMWU has ignited an accelerated membership recruitment drive to swell our ranks, making us the indispensable voice for every mine worker in Zimbabwe, including retirees. We aim to unite fragmented forces, transforming isolation into collective might. Central to our agenda are serious reforms in the National Employment Council (NEC).

ZDAMWU wishes to see the creation of sub-sectors within the NEC through targeted amendments to the Collective Bargaining Agreement (CBA), enabling engagement or bargaining at sub-sector level for more favourable outcomes.

We will advocate for the alignment of collective bargaining agreements with current labour laws, and mechanisms to curb over-taxation that strips workers bare. Job security will be non-negotiable: ending casualisation, enforcing permanent contracts, and mandating severance protections against arbitrary layoffs.

Strengthening Voices in Solidarity

Solidarity fuelled our rise in alliances. ZDAMWU will forge alliances across unions and, in the region, amplify advocacy for robust safety and health policies and legislation—including mandatory PPE, regular inclusive inspections, on-site clinics, and compensation for occupational diseases—and launch anti-corruption campaigns exposing exploitative practices.

We will champion protection for retired workers through enforced anti-harassment protocols and benefit safeguards. Our 2026 agenda includes prioritising human rights due diligence across mining operations to uphold international standards and prevent abuses. We commit to deeper engagement with mining communities, building a strong, unified voice that amplifies local concerns alongside worker rights.

We extend our sincere thanks to the NEC administration, which will be opening new offices in Hwange and Mutare, a vital step towards accessibility. We urge them to consider establishing an office in Gweru as well, ensuring all industry stakeholders can access NEC services easily without undue challenges, fostering equitable participation across regions.

We acknowledge the statement from the Chinese Embassy on the urgent need to end all reported and unconfirmed instances of rampant abuse of mine workers by Chinese employers in Zimbabwe. This call for industrial harmony aligns with our vision; we urge immediate action to investigate, address, and eliminate such practices to ensure fair workplaces.

Advancing Justice for All

Justice demands accountability. We call on government, including the new Mines Minister, to ensure worker-friendly policies on safety, health, and retiree rights are enacted, and that laws are enforced to ensure employers honour fair pay and safety standards, as well as that authorities investigate wage theft, fatalities, and retiree victimisation.

No more tolerance for a system where miners’ blood oils the economy while they starve, or veterans are discarded.

To all mine workers: As we close 2025, celebrate the gift of life amidst the trials. End this year with hope in your hearts, praying for a brighter future in our industry where every worker earns a living wage that restores dignity and security. Your resilience inspires us all.

Fellow workers, retirees, employers, and policymakers: Join ZDAMWU in this crusade. In solidarity, we are unbreakable. United, we will build union power, amplify our voices, and deliver justice. The dawn of dignity rises—together, we triumph!

For immediate release.

JUSTICE CHINHEMA
ZDAMWU – General Secretary
0772976261 / 0717803553

Gold buying prices in Zimbabwe per gram/ ounce, 31 December 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 31 December 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and above132.704,127.52
SG 85% and above but below 90%131.304,084.09
SG 80% and above but below 85%129.894,040.23
SG 75% and above but below 80%128.493,996.66
Sample 5g and above but below 10g126.383,931.03
Fire Assay CASH133.404,149.30

 

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.

The Mining Industry Mourns Loss of Eng Frank Taderera

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The mining sector has been thrown into mourning following the passing of Eng Frank Taderera, the Mine Manager at Golden Valley Mine, Mining Zimbabwe can report.

By Rudairo Mapuranga

His death was confirmed to this publication by the mine’s acting Manager, Mr Kenneth Burl.

Eng Taderera, a highly respected figure within the industry, passed away yesterday.

In confirming the sad news, Golden Valley offered sincere condolences to the Taderera family and colleagues.

“The Management, Board of Directors, and staff wish to convey our profound condolences on the death of Frank Taderera, and extend our heartfelt sympathies to his family, friends, and colleagues during this difficult time. Frank was a dedicated professional whose leadership, integrity, and contribution to Golden Valley and the mining industry will be remembered with great respect. His loss is deeply felt, and our thoughts and prayers are with all those mourning his passing,” the company said.

A seasoned professional with a long and distinguished career, Frank Taderera had been part of the Golden Valley operation since 2012. Prior to this role, he served as the Chief Executive Officer of Metallon Gold. His extensive expertise and steady leadership marked him as a significant and enduring contributor to the mining sector.

“Frank was a pillar of professionalism and will be deeply missed by all who worked with him,” said Burl, who has been acting in the mine manager position. He assured that operations at Golden Valley are continuing smoothly as the team comes to terms with the loss.

The industry remembers Frank Taderera for his more than a decade of service at Golden Valley and his lasting impact on the wider mining community.

Further details regarding funeral arrangements are expected to be communicated in due course.

Premier Faces Asset Seizure at Zulu Lithium as JRG Moves to Enforce US$2.5 Million Judgment

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Premier African Minerals Limited is facing intensified financial and operational pressure after JR Goddard Contracting (JRG) moved to enforce a long-standing court judgment by issuing a Writ of Execution for Movable Property at the company’s Zulu Lithium and Tantalum Project in Fort Rixon, Mining Zimbabwe can report.

By Rudairo Mapuranga

The enforcement action follows JRG’s earlier demand for US$2.3 million and relates to a previously stayed High Court judgment of approximately US$2.5 million, which Premier has been unable to settle.

The writ, filed in the High Court of Zimbabwe, seeks to get about US$2.2 million through the attachment and sale of movable assets at the Zulu Lithium operation.

While Premier says communication with JRG remains open, the issuance of a writ represents a decisive shift from negotiation to enforcement, raising concerns among investors about potential asset attachment, operational disruption, and further delays at a project already struggling to reach consistent commercial production.

The company has indicated that any assets attached could potentially be recovered through revised payment arrangements, subject to the financial position at Zulu Lithium. However, no binding settlement has been announced, leaving uncertainty around the immediate operational outlook.

The Zulu Lithium project is central to Premier’s investment case, yet it remains under strain from:

  • Persistent processing plant challenges
  • Reliance on interim equity funding and debt conversions
  • Ongoing negotiations with offtake and funding partners
  • The urgent need to commission the Xinhai flotation plant to improve recoveries and grades

Market observers note that creditor action targeting on-site assets significantly heightens risk, as any disruption could undermine Premier’s ability to demonstrate the production consistency required to unlock further funding.

Should key movable assets be attached, Premier’s plans to stabilise operations and accelerate commissioning of the new flotation circuit could be delayed, potentially affecting future cash flows and the company’s credibility with lenders.

Although management maintains that the situation can be resolved through further negotiations with JRG, investors are increasingly sensitive to signs that financial constraints are now translating into direct operational exposure.

With enforcement proceedings now active, the spotlight is firmly on Premier’s ability to rapidly secure a negotiated settlement. Failure to do so could exacerbate concerns around liquidity, dilution risk, and the long-term viability of the Zulu Lithium operation as a standalone asset.

Thompson Mutezo – Operations Executive Muriel Mine

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With more than three decades of hands-on experience across exploration, mine development and operations, Thompson Mutezo stands out as one of Zimbabwe’s most accomplished mining professionals. A seasoned geologist by training, Mutezo has played a pivotal role in shaping some of the country’s most significant gold operations, successfully navigating volatile commodity cycles while delivering operational excellence.

In this interview, Mutezo shares insights into his professional journey, the strategic relationship between Pan African Mining and Ever Rising Resources, the technical innovations behind Muriel Mine’s landmark dump retreatment operation, and his vision for the future of mining in Zimbabwe.

Who is Thompson Mutezo?

I am a seasoned Geologist with over 30 years of experience. I’ve had the privilege of working with various mining companies in the region, exploring for gold and navigating complex business cycles. My journey with Pan African Mining began in 2013, rising to become the Group Exploration Manager. In 2021, I took on the role of Mine Manager at Muriel Mine, where I led a plant expansion program and drove engineering innovations to improve production efficiency. Later in 2024, I transitioned to Operations Executive at Ever Rising Resources, focusing on optimising production and managing costs.

Explain the relationship between Pan African Mining and Ever Rising Resources.

Pan African Mining established Ever Rising Resources as a special-purpose vehicle to raise capital for Muriel Mine’s dump retreatment project. This strategic partnership has enabled us to commission a state-of-the-art plant, optimising gold recovery and extending the mine’s life.

What are the key operational strategies you’ve implemented to optimise production efficiency while managing cost?

As the Operations Executive, my focus is on integrating technology, financial discipline, and people empowerment to drive sustainable growth. At Muriel Mine, I led initiatives to improve metallurgical efficiency, optimise reagent usage, and leverage data analytics. At Ever Rising, I’ve implemented production optimisation standards, driving efficiency and cost-effectiveness in the dump retreatment operation.

This is the largest dump retreatment operation in the country. Could you walk us through the technical processes involved and the innovations that make this project stand out?

Our dump retreatment operation is a testament to innovation and efficiency. We’ve implemented a high-volume, low-cost model, utilising hydrosluicing and CIL processes to maximise gold recovery. Our team has overcome complex metallurgical challenges, ensuring optimal recovery rates and minimal environmental impact.

What are the main metallurgical challenges associated with reclaiming and processing historical tailings, and how has your team addressed them to ensure optimal recovery rates?

Historical tailings present unique challenges, including ore variability and preg-robbing. We’ve addressed these through targeted interventions, such as converting to a full CIL plant and introducing pre-aeration stages. These innovations have improved leach kinetics and stabilised recovery.

From an exploration and resource evaluation perspective, how do you approach the assessment and classification of historical dumps compared to primary ore deposits?

We recognise historical dumps as known resources, focusing on understanding their composition, variability and metallurgical complexities. Our approach combines geological expertise with advanced data analytics, ensuring accurate assessment and optimal recovery.

Environmental sustainability is increasingly central to mining operations. What rehabilitation or environmental management frameworks has Muriel Mine adopted?

We’re committed to responsible mining practices, prioritising environmental sustainability and rehabilitation. Our frameworks include lined TSFs, cyanide detoxification, process water recycling and progressive rehabilitation, aligning with UN SDGs and industry best practices.

What is the future of Muriel Mine after the Dumps?

Muriel Mine is poised for a strategic return to run-of-mine operations, leveraging our extensive exploration program and expertise. We’re committed to extending the mine’s legacy while driving sustainable growth and community development.

What advice would you offer to young geologists and managers entering the industry today?

I advise young professionals to blend field expertise with digital tools, becoming versatile leaders in mining. Stay curious, innovative, and committed to sustainability, and you’ll drive the industry’s future success.

Your parting shots?

Exploration is the foundation of the mining industry. Without it, there are no new mines, no production, and no revenue. I urge industry leaders to prioritise exploration, investing in the future of mining and national economic growth.