Mining ZimbabweLatest Mining News, Policy and Industry Updates

Zimbabwe’s mining sector has long been the economy’s backbone, contributing nearly 15% of GDP, over 70% of export earnings, and anchoring the country’s foreign currency stability. Yet, despite this undeniable importance, the Ministry of Mines and Mining Development remains systematically underfunded, Mining Zimbabwe can report.

By Rudairo Mapuranga

In the original 2025 National Budget, the Ministry of Mines was allocated ZiG$664.8 million, roughly US$22 million at the time. To put this in context, the Ministry of Finance itself received ZiG$28.7 billion, and Agriculture received ZiG$22.9 billion. Education and Health received ZiG$56.9 billion and ZiG$28.2 billion, respectively.

While other ministries are undeniably critical, mining is the only sector that consistently brings in billions in foreign currency, which in turn supports all other sectors. The 2025 Mid-Term Budget and Economic Review confirmed this: Zimbabwe received US$6 billion in foreign currency receipts between January and May 2025, and gold alone fetched US$2 billion in just the first six months.

Yet, the Ministry tasked with overseeing this billion-dollar sector operates on crumbs.

The Sector Pulling the Economy – but Starved of Resources

According to the 2026 Budget Strategy Paper, mining is expected to grow by 7.6% in 2025 and 8.3% in 2026, driven by lithium, coal, and PGMs. But how can such growth be managed or sustained when the very Ministry responsible for exploration, licensing, cadastre, environmental monitoring, and ASM formalisation is under-resourced?

This contradiction — a billion-dollar industry supervised by a ministry with a barely hundred-million-dollar budget — borders on policy negligence.

In contrast, nations like Namibia, Botswana, and Zambia have heavily invested in mining cadastre systems, digital licensing, ESG frameworks, and exploration data. Zimbabwe, despite its mineral richness, continues to expect maximum output from minimal input.

Foreign Currency Cow, Budget Goat

The Government continues to milk the mining sector for foreign currency but refuses to adequately feed the cow.

Let’s recall that in just five months, the economy earned US$6 billion in foreign currency, with mining leading the charge. The sector also played a huge role in stabilising the exchange rate, strengthening the current account, and ensuring macroeconomic stability, as stated in the Budget Review. And yet, the Ministry is expected to enforce compliance, attract investment, regulate over 500,000 small-scale miners, and monitor ESG issues — with the lowest operational capacity among top-performing ministries.

This is akin to demanding Olympic performance from a barefoot athlete.

Budget Priorities Need Urgent Realignment

As of June 2025, only 35% of the national budget had been utilised. That means there’s still fiscal space to support the true drivers of economic growth, and mining must top that list. The Budget Strategy Paper correctly identifies mining as a pillar of value-chain-driven development, but policy recognition must now be followed by real resource allocation.

It’s not enough to praise mining’s contribution. We must fund it.

Time for the Finance Ministry to Finally Listen

For years, the Ministry of Finance has acknowledged mining’s potential. But talk alone doesn’t build cadastre systems, fund geological surveys, or formalise artisanal miners.

In 2026, the Ministry must break from tradition and meet the Mines Ministry’s full budget requirements. This includes funding:

• Provincial Mines Offices and inspectorate teams
• Up-to-date geological data collection
• A digital mining cadastre system
• Artisanal mining support centres
• Environmental compliance and ESG oversight
• Public-private partnerships in beneficiation

Let this be the year Zimbabwe feeds the hen that lays the golden eggs, not just claps when it delivers.

If we continue underfunding our most lucrative ministry, we are not being frugal—we are being foolish.

AIM-listed mining and exploration junior, Premier African Minerals Limited, has announced the commencement of the second phase of test runs at its Zulu Lithium and Tantalum Project in Fort Rixon, scheduled to begin today, as the company continues its long journey toward achieving steady-state production at one of the country’s most anticipated lithium operations, Mining Zimbabwe can report.

By Rudairo Mapuranga

According to the latest update, all Original Equipment Manufacturers (OEMs) are now on-site to guide the plant’s optimisation efforts. Key operating parameters—including reagent dosing, flow controls, and minor mechanical adjustments—will be finalised during this phase.

According to Premier CEO George Roach, plant personnel and OEMs have been conducting inspections and maintenance, alongside implementing a minor change in the spodumene flotation section.

“Some operating parameter changes and the possible reintroduction of an additional reagent successfully used in 2024, to the extent necessary, round out the preparations,” Roach stated. He added that the company remains hopeful that the improvements will mark another “major step forward” in the optimisation process.

The company’s goal is to reach a consistent 22-day-per-month operating availability, which it believes is essential for meeting its projected spodumene concentrate production levels.

Ongoing Optimisation — But At What Cost?

While Premier has painted an optimistic outlook in its latest RNS, the path to full production has been long, winding, and fraught with delays. From multiple test phases to repeated optimisation work, the Zulu project has yet to reach the output levels initially promised when construction commenced.

In a 1 August 2024 update, Premier stated that no major plant equipment changes were required, and test work was focused on fine-tuning chemical dosing, agitation speeds, slurry densities, and cell residence times. These adjustments were aimed at achieving the required recovery and concentrate grades. At that time, Enprotec—the supplier of the flotation plant—had committed to completing all laboratory work to support the recommencement of operations. Yet, one year later, Zulu has still not entered steady commercial production.

Roach acknowledged in earlier comments that the true optimisation work only began after the commissioning of a new mill and scrubber in Q1 2024. Despite progress, frustration remains visible in the subtext of these updates. This raises questions: Why has the optimisation taken so long? Have earlier commissioning and design stages contributed to current delays?

Financial Manoeuvring Amid Delays

Beyond technical hurdles, Premier African Minerals is also contending with serious financial challenges. As reported in February 2025, the company failed to complete a US$4 million fundraising effort as initially structured. The retail offering, which was supposed to raise significant capital from existing shareholders, did not meet expectations.

To manage its obligations, Premier opted to pay US$300,000 in contractor invoices through the issue of over 1 billion new ordinary shares, further increasing the company’s share capital to nearly 40 billion shares. While this move averted immediate cash pressures, it also deepened concerns about shareholder dilution and the company’s ability to attract conventional funding.

This decision followed a previously cancelled fundraising initiative that aimed to raise £3.5 million through a placing and a retail offer, but managed just £1.2 million before being scrapped. With the project still requiring additional capital to move into production, the question lingers: can Premier continue to rely on equity financing to keep Zulu afloat?

Canmax Remains Committed — For Now

In the face of these financial and operational headwinds, Premier’s relationship with its strategic partner Canmax Technologies Co., Ltd has provided a critical lifeline. In January 2025, Canmax reaffirmed its commitment to support the completion of the Zulu flotation plant under an amended offtake and prepayment agreement.

The Chinese tech company made it clear that its involvement is limited to securing spodumene concentrate under agreed specifications and not to pursue control or ownership of the project. George Roach has continuously expressed confidence that the partnership with Canmax will help finalise the project’s commissioning, but even this alliance is not immune to market impatience and unmet delivery timelines.

Premier African Minerals has consistently framed each update as a step forward in a highly complex process. Yet, from a broader perspective, investors and stakeholders are justified in asking hard questions:

• Why has full optimisation taken more than a year post-plant commissioning?

• How sustainable is Premier’s current funding model, especially with heavy reliance on share issuance?

• Can the company meet the prepayment obligations made under its agreement with Canmax?

The importance of the Zulu project—Zimbabwe’s flagship lithium development—cannot be overstated, particularly as global demand for lithium continues to surge. However, after years of updates, test runs, and incremental improvements, observers are left wondering whether Premier is truly nearing the finish line or if the goalposts will continue to shift.

As the second phase of test runs begins, all eyes will remain fixed on Zulu—and whether it can finally shift from potential to production.

Zimbabwe has the opportunity to build a world-class Environmental, Social and Governance (ESG) framework by integrating its domestic reporting efforts with global best practices, according to Gabriela Ferolla, Founder and CEO of Seall Intelligence, an international ESG consultancy, Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking at an ESG Reporting Workshop hosted by Seall Intelligence in partnership with local sustainability firm EnvironEdge Consultancy, Ferolla praised Zimbabwe’s steps toward establishing ESG as a reporting standard — especially the move to make ESG disclosures mandatory for listed companies — and described them as aligned with international trends.

“The movement that Zimbabwe is making is in line with international practices,” Ferolla said. “Mandating ESG disclosures by listed companies can help create a more robust and transparent market ecosystem, making local firms more attractive to global investors.”

Ferolla noted that countries such as South Africa and Brazil have already begun mandating ESG disclosures in structured formats. South Africa, for example, requires integrated reporting that combines financial and non-financial disclosures. Brazil will require listed companies to begin reporting under IFRS S1 and S2 starting in 2026.

These frameworks, she said, allow for standardised comparison between companies and jurisdictions — a key requirement for large institutional investors who now routinely assess ESG performance before making capital allocations.

“When companies are able to report in a consistent way aligned with international frameworks, it enhances their fundability and increases their ability to deliver local impact,” she said.

Zimbabwe’s Position and Opportunities

Zimbabwe’s existing SI 134 of 2019, which mandates the use of IFRS S1 and S2, is seen as a foundational starting point, though Ferolla encouraged further development.

The proposal on the table is to consolidate Zimbabwe’s ESG approach by building a framework that, while anchored on SI 134, integrates elements from over 20 other globally recognised standards such as the GRI, IRMA, and the Task Force on Climate-related Financial Disclosures (TCFD). Ferolla said such alignment will strengthen Zimbabwean companies’ visibility and comparability in international markets.

Ferolla believes Zimbabwe can create a uniquely African ESG approach that respects local environmental, social, and governance realities while remaining compatible with international frameworks.

“Zimbabwe can benefit by building on what already exists locally,” she said. “There are standards here that already align with global ESG goals. The next step is to ensure that efforts from government, private sector, and even third-sector actors are integrated into a single framework.”

She stressed that establishing mandatory ESG reporting is only the first step. True impact will depend on creating a system that also supports compliance and encourages continuous improvement.

Building Local Capacity

One of the key takeaways from the workshop was the importance of ecosystem coordination. Ferolla noted that countries that succeed in ESG transformation start by setting a minimum regulatory requirement and then gradually strengthen the framework by developing local expertise, tools, and feedback systems.

She added that Zimbabwe could lead in developing reporting practices that speak to its unique industrial and cultural environment — for example, in how it treats informal mining operations such as artisanal or “Chikorokoza” mining. These could be included in ESG frameworks in a way that is locally relevant but still speaks the language of international investors.

“The aim is not just to tick boxes but to demonstrate real value and impact to the communities and the environment,” Ferolla explained.

ESG as a Bridge to Investment

Ferolla’s message echoes that of Zimbabwe’s Deputy Minister of Finance and Investment Promotion, David Mnangagwa, who told the same workshop that weak ESG reporting is costing Zimbabwe billions in investment opportunities.

“We want to make sure that when the adjudicators of the ticked boxes come to Zimbabwe, they will have confidence that our policy is being implemented and enforced well — and your reports actually mean something,” Mnangagwa said, as reported by Mining Zimbabwe.

He encouraged the private sector to submit input to the Ministry of Finance, which is currently developing a financial sector policy that could embed ESG reporting requirements more firmly into law.

Ferolla echoed this sentiment, urging all stakeholders to collaborate and build a “transparent, comparable, and integrated” ESG ecosystem. She said this would allow Zimbabwe to not only access global funding pools but also improve its domestic economic resilience.

“With the right structure, Zimbabwe can become an example of how local ESG efforts can be harmonised with global trends while still delivering impact at home,” she concluded.

In a major move to unlock Zimbabwe’s vast mineral potential, the country is set to undertake a comprehensive nationwide geomagnetic airborne geophysical survey aimed at significantly enhancing understanding of its mineral resource base, Mining Zimbabwe can report.

By Ryan Chigoche

The nationwide airborne geophysical survey aims to uncover untapped mineral deposits and stimulate growth in Zimbabwe’s mining sector.

This significant initiative was announced by Finance and Investment Promotion Minister Mthuli Ncube in his 2026 Budget Strategy Paper (BSP), recently presented to Parliament.

Zimbabwe is one of Africa’s most mineral-rich countries, boasting over 60 known mineral types, including gold, platinum group metals (PGMs), chrome, lithium, diamonds, coal-bed methane, rare earth elements (REEs), and base metals. However, only about 40% of the country’s land area has been explored, leaving significant portions of its mineral wealth untapped.

To bridge this exploration gap, the Government has announced that it will launch the airborne geophysical survey in partnership with international and local partners.

The initiative aims to significantly enhance the country’s geostatistical data, making it easier to identify new mineral deposits and reduce the risks associated with exploration.

In his 2026 Budget Strategy Paper, Finance Minister Mthuli Ncube highlighted that advanced airborne geophysical technology and upgraded labs will be vital to discovering new deposits, reducing exploration risks, and ensuring fast, accurate sample analysis.

“By leveraging advanced airborne geophysical technologies, we seek to identify new mineral deposits, improve exploration, and reduce the risks associated with mineral exploration activities,” Ncube said.

“Concurrently, Government will invest in strengthening laboratory infrastructure and capacity to support the increased volume and complexity of geological samples generated through enhanced exploration efforts, ensuring timely, precise, and reliable analysis of mineral samples, which is critical for informed decision-making by both the public sector and mining investors,” Ncube added.

This announcement comes against a backdrop of historic under-investment in exploration, which has often accounted for less than 1% of mining budgets compared to a global benchmark of around 10%.

Much of Zimbabwe’s existing geological data was collected decades ago using outdated methods, making it difficult to accurately quantify potential deposits, particularly in regions covered by Kalahari Sands and other challenging terrains.

The nationwide survey is therefore seen as a major step in a broader strategy to revitalise mineral exploration.

It follows other recent Government efforts such as the issuance of Exclusive Prospecting Orders (EPOs) to stimulate new investment, as well as the push for a progressive Mines and Minerals Bill that addresses licensing and claim security issues.

Industry bodies, including the Geological Society of Zimbabwe, have long called for more exploration licences and greater use of modern technologies such as remote sensing, drone mapping, and AI-assisted prospecting to unlock the country’s hidden mineral wealth.

Opportunities Ahead

High-value minerals such as lithium, REEs, manganese, and coal-bed methane hold major growth potential for Zimbabwe.

Recent lithium discoveries in Bikita, Kamativi, and Goromonzi, coupled with renewed interest in the country’s vast coal-bed methane fields, underscore the opportunities waiting to be tapped.

If successful, the upcoming survey and planned laboratory upgrades could transform Zimbabwe’s mineral sector by updating geostatistical data, boosting investor confidence, and laying the groundwork for new exploration campaigns. This, in turn, could help unlock billions of dollars in untapped mineral wealth and drive broader economic growth.

Zimbabwe’s mining industry is expected to grow by 5.9% in 2026, supported by firm global gold prices and strong performance in key mineral sub-sectors such as iron and steel, coal, and chrome, Mining Zimbabwe can report.

By Ryan Chigoche

According to the 2026 Budget Strategy Paper presented to Parliament by Finance and Investment Promotion Minister Mthuli Ncube, the sector’s resilience is set to continue despite subdued international commodity prices. The projected growth will largely be driven by sustained demand for gold as a safe-haven asset, coupled with improved output across major mineral industries. These developments are expected to boost overall production and further strengthen the sector’s contribution to Zimbabwe’s economic growth.

The outlook for 2026 builds on strong mining sector performance in recent years. In 2024, Zimbabwe’s mining industry exceeded export targets, generating approximately US$5.34 billion, contributing nearly 12% to GDP, and accounting for over 70% of total export earnings.

Gold production reached a record 36.48 tonnes, with artisanal and small-scale miners supplying 65% of deliveries. Platinum group metals (PGMs), chrome, nickel, and lithium also played significant roles, although softer global prices for PGMs and lithium weighed on revenues. Despite these price challenges, overall mineral output grew by 2.3% in 2024.

Looking ahead through 2025, the sector is forecast to grow by 7%, supported by rising mineral exports, increased capacity utilization, and improved employment levels. Official projections expect mineral exports to rise from US$5.5 billion in 2024 to US$6 billion in 2025, while capacity utilization is projected to increase to 90%, up from 84% the previous year.

Building on this positive trajectory, the 2026 Budget Strategy Paper underscores that the anticipated sustained growth of the mining sector will be supported by strategic initiatives focused on local beneficiation and value addition.

By upgrading processing and refining capacities to produce more semi-finished and finished mineral products, the government aims to foster industrial hubs and develop value chains that maximize domestic economic benefits while reducing reliance on raw mineral exports.

“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. These policies will support the development of industrial hubs and value chains, maximizing domestic economic benefits and reducing reliance on raw mineral exports,” the Finance Ministry said.

However, despite the promising outlook, the mining sector continues to face significant legislative and regulatory uncertainties. The long-awaited amendments to the Mines and Minerals Act have not yet been fully enacted, creating gaps related to claim security, environmental compliance, and benefit-sharing with local communities.

These unresolved issues, coupled with inconsistent policies on value addition and frequent changes to royalty and tax regimes, have slowed project approvals and made investors cautious, potentially hampering fresh capital inflows and the sector’s ability to reach its full potential.

In response, the government has committed to strengthening the sector’s regulatory framework. The 2026 Budget Strategy Paper highlights intentions to create a clear, consistent, and adaptive legal environment that reduces uncertainty and attracts both domestic and foreign investment. It further commits to streamlining approval processes and aligning regulations across jurisdictions to support responsible mining practices and foster intra-regional collaboration.

“Government will continue to enhance legislative reforms in order to ensure a clear, consistent, and adaptive regulatory framework for the mining sector. This will reduce uncertainty, attract both domestic and foreign investment, and facilitate intra-regional collaboration. Approval processes will be streamlined and regulations aligned across jurisdictions to support responsible mining practices and enable cross-border projects,”

As Zimbabwe’s mining sector navigates challenges and capitalizes on growth opportunities, the government’s focus on regulatory reforms and value addition will be crucial in sustaining momentum.

With supportive policies and a clearer legal framework, the industry is well-positioned to attract investment, boost exports, and drive economic development in the years ahead.

Zimbabwe’s Ministry of Finance and Investment Promotion is currently developing a comprehensive Financial Sector Policy, and Deputy Minister David Kudakwashe Mnangagwa has urged the private sector to actively participate in shaping it, particularly with regard to Environmental, Social, and Governance (ESG) standards. Mining Zimbabwe can report.

By Rudairo Mapuranga

Speaking at the Enviroedge Consulting and Seall Intelligence ESG Reporting Workshop held at the Management Training Bureau (MTB) in Msasa, Harare, under the theme “Advancing ESG Reporting in Zimbabwe: Challenges, Opportunities and the Road Ahead,” Mnangagwa emphasised the need to integrate Zimbabwe’s existing ESG practices into a globally aligned framework that can attract sustainable investment and financial incentives.

“Right now, government, particularly the Ministry of Finance, is developing the financial sector policy. It’s an opportunity for all these ESG aspects to be addressed in a more substantive manner,” he said.

“The private sector needs to be the biggest lobby to make sure the policy is in place,” he added, stressing the importance of bridging the gap between government and business.

Local Standards, Global Access

Mnangagwa argued that Zimbabwe and the wider African continent already have community-rooted approaches to responsible and sustainable practices. However, he noted that these must now be translated into formal policy and reporting structures that align with global ESG frameworks.

“It’s not a matter of just playing to the gallery. We are already doing something, and if there are dividends to be gotten from this, we must organise ourselves as the private sector and government so we can access the available capital.”

Zimbabwean firms seeking capital from global markets are increasingly under pressure to demonstrate ESG compliance, not just in their operations but also through credible, audited reporting. According to Mnangagwa, aligning local efforts with global ESG metrics will not only attract green finance but also reduce the government’s social burden by leveraging corporate social investment.

Incentives and Tax Relief

The Deputy Minister also raised the question of incentivising ESG compliance, suggesting that firms investing in social outcomes should be rewarded through possible tax relief.

“If our industry is ESG compliant, this is a social dividend that the government is supposed to be providing financing for anyway. That’s going to give us relief of 1% of our taxes… but it has to be connected to something,” he explained.

Mnangagwa encouraged the business community to document and present practical models showing how ESG compliance contributes to national development goals, particularly in healthcare, environmental rehabilitation, and community services.

“It needs to be on paper. There are always conflicting needs government wants to collect as much tax as it can for social obligations, but if the private sector is coming in to carry that burden, there needs to be a translation,” he said.

Compliance Must Be Meaningful

Mnangagwa warned against token compliance and called for the creation of a robust ESG ecosystem where government agencies, local policies, and global standards all work in sync to support businesses and create investor confidence.

“When the adjudicators of the ticked boxes come to Zimbabwe, they must have confidence that our policy is being implemented and enforced well, and that your reports actually mean something.”

He also acknowledged that the cost of compliance can be high, not just in fees or systems, but in manpower and operational restructuring. However, he encouraged the private sector to frame ESG not as a burden but as an opportunity to share development responsibilities with the state, particularly in areas where government is overstretched.

Let’s Co-create, Not Dictate

“If you leave it to government without consultation with the private sector, we can come up with a Statutory Instrument tomorrow… but will it be material? That’s why we are here.”