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Kuvimba’s Sandawana Mines Set to Begin Construction of Zimbabwe’s Largest Lithium Concentrator Plant

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Kuvimba’s Sandawana Mines Set to Begin Construction of Zimbabwe’s Largest Lithium Concentrator Plant

Kuvimba Mining House (KMH) has announced that its lithium entity, Sandawana Mines, is poised to begin construction of a major lithium concentrator plant within the next four to six months, a move set to establish the operation as the largest of its kind in Zimbabwe, Mining Zimbabwe can report.

By Rudairo Mapuranga

The update was delivered by Kuvimba Mining House Group Chief Executive Officer, Trevor Barnard, at the lithium mine in Mberengwa. He addressed the community and stakeholders, including government and traditional leaders, acknowledging that the project had taken “a lot longer than what we planned initially,” but assuring them that it was now on a clear path forward following the finalisation of partnership agreements.

Barnard outlined an ambitious schedule, targeting the commissioning of the processing plant for the first or second quarter of 2027. He described Sandawana as “one of the best, if not the best, lithium resource in Zimbabwe,” highlighting the high purity and superior grade of the lithium concentrate already being produced, which he stated exceeds international standards.

A cornerstone of the announcement was the reaffirmation that Sandawana Mine will be the only lithium operation in Zimbabwe wholly owned by the nation. “This mine will belong to Zimbabwe and it will produce lithium for Zimbabweans,” Barnard stated, drawing a clear distinction from other lithium projects in the country with foreign equity holders.

The project will be executed through a Build, Operate, and Transfer (BOT) model. Under this structure, Kuvimba’s partners—the Chinese metals giants Zhejiang Huayou Cobalt Co. and Tsingshan Holding Group Co.—will finance, build, and operate the concentrator plant. In a unique arrangement, these firms will not hold any equity stake in the mine itself. They will recoup their investment and operate the plant for a period, during which they will train local personnel, before the entire operation is transferred back to Kuvimba Mining House.

Once fully operational, the mine is expected to produce over half a million tonnes of lithium concentrate annually. The long-term plan includes further beneficiation to produce lithium sulphate, in line with government policy.

With the commercial agreements now finalised, the company’s immediate focus is on completing the conditions precedent, with Cabinet approval being the most critical. Upon receiving the green light, the first visible steps on the ground will be earthworks, levelling and compacting the site for the processing plant, followed by foundation work and the installation of large-scale equipment.

Barnard concluded by reiterating Kuvimba’s commitment to its community promises, assuring stakeholders that despite the delays, all undertakings would be honoured as the project moves into its crucial construction phase.

All Set for AMMZ AGM as Industry Leaders Converge in Victoria Falls Tomorrow

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All Set for AMMZ AGM as Industry Leaders Converge in Victoria Falls Tomorrow

The Association of Mine Managers of Zimbabwe (AMMZ) is all set to open its Annual Conference and General Meeting (AGM) tomorrow, with the two-day event bringing together senior mine executives, technical specialists, policymakers, equipment suppliers, and service providers from across the country’s mining sector.

By Ryan Chigoche

The AGM and Conference will be held in Victoria Falls at the Elephant Hills Resort, a venue that has become a preferred setting for high-level mining events.

Building on last year’s theme, which focused on Smart Mining, this year’s meeting will run under the theme “Sustainable Mining in a Changing World,” underscoring AMMZ’s continued emphasis on technology-led efficiency, improved safety culture, and responsible resource extraction.

Over the past few years, AMMZ has consistently structured its conferences around modernisation and resilience—a pattern that reflects broader global mining trends.

This event remains one of the most important fixtures on Zimbabwe’s mining calendar, largely because it brings decision-makers and solution providers into a shared space.

This convergence allows equipment suppliers and service companies to engage directly with mine managers, showcase new technologies, and present solutions designed to enhance productivity, improve ventilation systems, reduce downtime, and meet tightening environmental and safety standards.

Throughout the two-day event, delegates will participate in technical presentations, panel discussions, and knowledge-sharing sessions that cover productivity optimisation, digitalisation, safety leadership, and ongoing operational challenges in both underground and surface mining.

By bringing these discussions together, the AGM creates a practical platform for mine managers to explore strategies that strengthen operational resilience and position their operations for sustainable growth in 2026 and beyond.

Participants will also reflect on key developments from 2024/25, including regulatory updates, progress on major capital projects, and lessons learned from diverse mining operations across the country.

These reflections provide an opportunity for industry leaders to benchmark experiences, identify sector-wide challenges, and align on strategic approaches that can be applied across the sector.

With Zimbabwe’s mining industry undergoing rapid transformation, the insights and resolutions emerging from the AGM are expected to guide how mine managers respond to evolving operational demands and leverage emerging opportunities to drive long-term growth.

MMCZ Warns Rail Inefficiencies Undercutting Zimbabwe’s Mineral Export Competitiveness

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MMCZ Warns Rail Inefficiencies Undercutting Zimbabwe’s Mineral Export Competitiveness

Zimbabwe’s mineral exporters are grappling with rising logistics costs as persistent weaknesses in the national rail system force much of the country’s bulk cargo, including coal, onto far more expensive road transport, Mining Zimbabwe can report.

By Ryan Chigoche

The Minerals Marketing Corporation of Zimbabwe (MMCZ) states that this shift is steadily eroding the competitiveness of local producers in international markets.

Commodities that depend on the efficient movement of large tonnages are feeling the greatest strain.

With the rail network unable to carry sufficient volumes, exporters have little option but to rely on long-haul trucking, a move that sharply increases the delivered cost of their minerals.

Speaking after the corporation’s annual general meeting last week, MMCZ marketing manager Mr Gumisai Nenzou said transport bottlenecks were weakening the viability of shipments destined for overseas buyers.

He noted that low-value, high-volume minerals are most exposed to these rising logistics pressures.

“We see this as a challenge, especially when we look at low-value commodities such as coal and chrome. We have a lot of overseas markets that are looking for these products, but because of the challenges with our infrastructure to move the required volumes, that places us at a competitive disadvantage when we look at logistics costs,” Nenzou said.

He added that heavy reliance on road transport complicates compliance with strict maritime loading schedules.

Trucks often struggle to meet tight vessel turnaround times at ports such as Beira, increasing the risk of missed loading windows. When this happens, exporters face penalties for unutilised cargo space, further squeezing margins.

Zimbabwe’s rail problems stem from decades of underinvestment and operational decline at the National Railways of Zimbabwe (NRZ).

However, efforts to rebuild the system are underway.

The NRZ has secured a US$115 million Afreximbank loan for new locomotives and, in September 2025, signed a US$533 million agreement with China Railway International Group (CRIG) to modernise and rehabilitate key corridors.

Current projects include lifting speed restrictions and upgrading the Pachipanda–Mutare and Chikwalakwala lines.

In line with the government’s push to restore rail capacity, coal producers in Hwange have also begun acting on a directive to help revitalise NRZ infrastructure.

Plans are now in progress to refurbish the strategic railway line linking the Hwange coalfields to domestic and regional markets, a move expected to ease pressure on the roads and improve coal evacuation efficiency, Mining Zimbabwe can report.

Despite these logistical challenges, Zimbabwe’s mineral exports remained resilient during the first nine months of the year.

Volumes rose 45 per cent above budget to reach 3.84 million tonnes, while export earnings edged up to US$2.6 billion—a slight 0.7 per cent increase compared to the same period in 2024.

Platinum group metals (PGMs) continued to dominate export earnings, contributing more than US$1.22 billion, boosted by improved processing and a 54.5 per cent surge in prices.

Ferrochrome exports also strengthened, reaching 328,442 tonnes worth US$272.8 million, supported by firm Asian demand. Coke exports added US$142.6 million.

Lithium remained one of the fastest-growing export categories, though producers faced weaker global prices. Spodumene shipments reached one million tonnes, a 27 per cent rise in volume, while export earnings fell 11 per cent to US$386.9 million due to softening international markets.

Zimbabwe Must Embrace Lean Carbon Strategy to Power Up and Cut Diesel Dependency

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Zimbabwe Must Embrace Lean Carbon Strategy to Power Up and Cut Diesel Dependency

As Zimbabwe moves into a new era of mineral-led economic growth, the country faces a pressing question: how can it drive energy access rapidly enough to fuel industrial activity while staying within carbon ambitions?

By Rudairo Mapuranga

A fresh regional perspective argues that a temporary, controlled rise in emissions, dubbed a “lean carbon” strategy, may be the best bet for nations like Zimbabwe to break free from energy poverty without being locked into dirty infrastructure.

In a recent opinion piece, Louis Strydom, Director of Growth and Development for Africa and Europe at Wärtsilä Energy, contends that African countries should be allowed a small, time-bound “carbon overdraft” to ensure reliable power to industries and households. This controversial yet pragmatic argument comes at a time when Zimbabwe, with 22-hour power cuts just two years ago and still reliant on costly imported electricity, is aggressively seeking solutions to stabilise the grid and enhance local production.

Zimbabwe currently produces a fraction of the energy it needs. This underpowering has led mines, farms, and SMEs to rely on diesel generators, which are expensive and highly polluting. Studies cited by Strydom show that self-generation in Sub-Saharan Africa, mostly via diesel gensets, accounts for about 6% of installed capacity, with the cost per kWh running between USD 0.30 to 0.70, several times more than grid supply (grid electricity cost for mining in Zimbabwe is USD 0.14 per kWh).

“A clean sentence in a strategy does not change the physics of a failing system,” Strydom writes, cautioning against idealism that fails to address urgent reliability needs.

Strydom’s proposition moves away from extreme orthodoxies, neither “no fossil” nor “gas or nothing”, and instead calls for flexible, modular power plants that can run initially on diesel or heavy fuel oil (HFO) but are built to switch to natural gas or cleaner fuels as infrastructure matures.

For Zimbabwe, this approach could support the country’s mines, smelters, and industrial parks without forcing the country to wait for gas infrastructure, which remains limited due to poor regional connectivity and the absence of viable LNG import terminals nearby.

This “lean carbon” pathway consists of three key elements:

  1. Dual-fuel power plants – facilities that can start generating immediately using HFO or diesel but must be technologically capable of switching to gas when pipelines or supply become viable.

  2. Declining fossil use – while fossil fuels initially supplement renewables, their usage must taper over time as solar, hydro, and storage capacity expand.

  3. Strict covenants and deadlines – implementation of hard compliance measures in PPAs and energy policies to prevent fossil lock-in and ensure timely conversion to cleaner energy.

Zimbabwe has long argued for a “just energy transition”, one that acknowledges historical inequality in emissions and the country’s right to develop. Despite contributing just a tiny fraction to global greenhouse gases, African nations still face pressure from global financiers to skip all fossils entirely. Strydom notes that Africa produces only 4% of global CO₂, while holding 17% of the world’s population.

Yet Zimbabwe, like many African nations, must balance the need for affordable power with the ambition to transition cleanly. The reality, according to Strydom, is that waiting for future technologies while people sit in the dark is not climate policy—it is development deferred.

In practical terms, scaling up modular, dual-fuel power plants, particularly reciprocating engine technology that pairs well with renewables, could help Zimbabwe reach universal access while preparing to cut emissions once gas or hydrogen becomes viable.

Mining and manufacturing are the nation’s biggest drivers of electricity demand. Zimbabwe’s largest energy consumer, Zimplats, has already embarked on building its own 185MW solar plant. Kuvimba Mining House, Mimosa, and Prospect Lithium Zimbabwe have likewise registered plans to generate renewable energy for operations.

But the gap persists, particularly for small-scale and mid-tier miners who cannot afford solar farms and instead rely on generators. Under the lean carbon model, government and energy developers could procure flexible, grid-stabilising power assets that maximise renewables while providing reliable baseload.

To implement a lean carbon system, Zimbabwean energy regulators and ministries should:

  • Set clear timelines for emissions peaking and gas conversion across all thermal assets.
  • Mandate gas-ready design in new thermal tenders.
  • Reward hybrid solutions that push renewables without sacrificing grid stability.
  • Ensure policy continuity that de-risks early-stage investments in storage and transmission upgrades.

International financiers are slowly shifting from outright bans on fossil projects to conditional support for hybrid, transition-enabled power systems. Zimbabwe can seize this momentum to secure funding that doesn’t trap the country in pollution.

As Strydom concludes, Africa does not seek permission to pollute. It seeks permission to end energy poverty quickly while peaking emissions early. That bargain—a small, temporary hump in emissions—may be the most realistic way to sustain Zimbabwe’s mining-driven economy while charting a credible path to net-zero.

Central Banks Demand to Keep Gold Prices Climbing – Goldman Sachs

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Central Banks Demand to Keep Gold Prices Climbing – Goldman Sachs

Goldman Sachs has indicated that central banks likely continued significant gold purchases in November, extending a multi-year trend of reserve diversification as countries seek protection against growing geopolitical and financial risks.

By Ryan Chigoche

The Wall Street firm estimates that central banks acquired around 64 tonnes of gold in September, up sharply from about 21 tonnes in August, reflecting ongoing efforts to hedge uncertainty in global markets.

The firm reaffirmed its bullish outlook on gold, projecting that prices could reach $4,900 per ounce by the end of 2026, with further upside possible if private investors increasingly turn to the metal to diversify portfolios.

Spot gold traded near $4,068 per ounce on Monday, marking a 55% gain so far in 2025. This surge has been driven by safe-haven demand, strong inflows into gold-backed exchange-traded funds, and expectations of additional U.S. interest rate cuts.

Other major financial institutions are signalling similar optimism. HSBC has raised its 2025 average gold price forecast to $3,455 per ounce and sees the potential for prices to reach $5,000 per ounce in 2026, citing central bank demand and ongoing geopolitical tension.

Bank of America has lifted its 2026 target to $5,000 per ounce, with an average around $4,400 per ounce, while Deutsche Bank highlights a continued safe-haven bid supported by potential global shifts in reserve currencies.

ANZ projects gold could reach $3,600 per ounce by the end of the year amid persistent macroeconomic uncertainty.

The sustained global demand for gold is also reflected in regional mining output. Countries with significant gold production, including Zimbabwe, have seen notable increases this year.

For instance, gold deliveries in the first nine months of 2025 rose 37% compared to the same period in 2024, with small-scale miners contributing the majority of output.

Total gold deliveries for the first ten months have already surpassed 37 tonnes, keeping the industry on track to meet annual targets, supporting foreign currency inflows, and strengthening mining sector performance.

The combination of aggressive central bank buying, persistent geopolitical risks, and rising mining output underpins a positive outlook for gold in both global and local markets.

Analysts suggest that while structural demand for gold remains strong, sustained production growth and supportive mining policies will be key to ensuring that regions rich in gold continue to benefit from high prices.

Gold buying prices in Zimbabwe per gram/ ounce, 19 November 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 19 November 2025

Gold buying prices in Zimbabwe per gram/ ounce, 19 November 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE123.373,837.24
SG 85% and above but below 90%122.073,796.80
SG 80% and above but below 85%120.763,756.06
SG 75% and above but below 80%119.463,715.62
Sample 5g and above but below 10g117.503,654.66
Fire Assay CASH124.033,857.77

 

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.

In This Age, Respect Has to Take a Leading Role: A New Mantra for Global Mining

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In This Age, Respect Has to Take a Leading Role: A New Mantra for Global Mining

In a world where responsible mining is increasingly non-negotiable, the key to a sustainable future may lie not just in stricter policies, but in a single, powerful principle: respect, Chancellor Chidziva, the Deputy Provincial Mining Director for Matabeleland South, said in his address at The Mining Show in Dubai, Mining Zimbabwe can report.

By Rudairo Mapuranga

“In this age, respect has to take a leading role,” he stated, anchoring a vision that assigns responsibility to everyone, from global corporations and governments to the smallest artisanal miners.

His insights, shared across two panel discussions, outlined a pragmatic path forward built on this foundational idea.

On the panel for shaping mining policy, Chidziva argued that the industry is moving beyond the “traditional way” of using tax breaks and penalties to enforce compliance. The new driver, he explained, is market-led responsibility.

“The market now is demanding responsibly sourced materials,” Chidziva stated. “If your operations don’t comply… that on its own will disqualify you.”

This shift, he noted, “removes the burden from government” and places the onus on companies to act as respectful stewards of the environment. “It is the duty of everyone, in as much as we’re chasing profits, but it is also your duty to safeguard the environment for the future generations.”

He expanded this call for respect into a plea for global standardisation, arguing that mining the same mineral in Zimbabwe, Brazil, or Kenya should be governed by similar, respectful standards. This ensures a level playing field where the planet’s health is valued equally everywhere.

Chidziva turned his principle of respect toward one of Africa’s most pressing issues on the second panel: artisanal and small-scale mining (ASM). He called it a “harsh reality” that cannot be wished away, especially with rising gold prices.

The traditional response of neglect or crackdowns, he suggested, is fundamentally disrespectful. Instead, he outlined a strategy built on recognition and support.

“Governments can only begin by recognising the fact that we’ve got that sector,” he said. By bringing miners into the formal economy through policy, infrastructure, and technical support, we show respect for their livelihood and their safety.

He detailed Zimbabwe’s model of “gold service centres,” which provide artisanal miners with milling services, formal gold buying, safe equipment, and expert guidance. This approach, he explained, respects miners enough to equip them for success, ensuring they can mine “productively, safely and in an environmentally friendly way.”

Chidziva’s presentations converged on a single, powerful idea: the era of mining as a purely extractive industry, answerable only to its bottom line, is over. The new era must be built on respect.

This means respect enforced by the market for the environment, and respect enacted by governments for the people whose lives depend on the sector. By making respect take a leading role, the industry can forge a sustainable path that balances economic growth with the unwavering responsibility we all share for the planet and each other.

Gold buying prices in Zimbabwe per gram/ ounce, 18 November 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 18 November 2025

Gold buying prices in Zimbabwe per gram/ ounce, 18 November 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE123.733848.42
SG 85% and above but below 90%122.423807.69
SG 80% and above but below 85%121.113766.94
SG 75% and above but below 80%119.803726.19
Sample 5g and above but below 10g117.843665.22
Fire Assay CASH124.383868.65

 

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.

Green Light for Karo’s US$50m Debt Restructuring: Bondholders Endorse Extended Tenor and Higher Yield

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Green Light for Karo’s US$50m Debt Restructuring: Bondholders Endorse Extended Tenor and Higher Yield

The country’s emerging platinum group metals (PGM) producer, Karo Mining Holdings plc, has successfully secured the necessary bondholder approval to restructure its VFEX-listed US$50 million bond for the US$4.2 billion Karo platinum project in Mhondoro-Ngezi, Mining Zimbabwe can report.

By Rudairo Mapuranga

At an Extraordinary General Meeting (EGM) held on Friday, 07 November 2025, bondholders unanimously voted to approve all six Extraordinary Resolutions, giving management the flexibility needed to align the financing structure with the massive scale and development timeline of the PGM project.

The vote confirms strong investor confidence in the long-term viability of the company’s ambitious plans.

The comprehensive debt restructuring package, which the Cyprus-registered mining firm had been seeking, successfully passed, fundamentally amending the terms of the bond listed on the Victoria Falls Stock Exchange (VFEX).

The approved resolutions deliver crucial changes to the bond’s terms, centred on providing a longer development runway and enhancing investor yield:

Tenor Extension: The maturity date of the VFEX-listed bond has been formally extended by three years, shifting the final maturity to 07 November 2028.

Interest Rate Hike: The annual interest rate on the bond has been significantly increased from 7.0% to 10.0%, boosting the overall yield for bondholders.

New Guarantee Fee: A 1.0% annual guarantee fee has been introduced, payable to the Guarantor between December 2025 and December 2028, further securing the debt.

Early Redemption Clarification: Amendments were passed to clarify the early redemption provisions, removing the issuer’s obligation to pay interest until the original maturity date in the event of an early call. The issuer will now redeem at US$100 plus accrued interest up to the fixed early redemption date.

The extension is a critical step in the financing strategy for Karo’s US$4.2 billion PGM mining and processing project in the Great Dyke region. Management had previously indicated that the restructuring was necessary to properly bridge the development and funding phase of the vast project.

By successfully extending the bond’s tenor and increasing the yield, Karo ensures the financing remains stable and attractive throughout the crucial early years of project development, which involves significant capital expenditure and infrastructure buildout before commercial production begins.

The decision reflects the company’s prudent approach to debt management and its commitment to ensuring its financial instruments are aligned with the project’s complex timeline.

The successful EGM vote builds on the already strong performance of the US$50 million bond on the VFEX, where it has seen high demand since its listing.

This initial debt issuance was always positioned as a strategic first step toward establishing the company’s presence in the country’s offshore financial hub.

With the bond’s tenor now secured and offering an enhanced return, Karo Mining Holdings remains on track to continue its trajectory toward its stated long-term goal: pursuing a full equity listing on the VFEX in due course, capitalising on the growing investor interest in Zimbabwe’s mining sector and the country’s strategic position in the global PGM supply chain.

Zimbabwe Lithium Volumes Surge but Earnings Dip 11% as Prices Remain Weak

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Zimbabwe Lithium Volumes Surge but Earnings Dip 11% as Prices Remain Weak

According to the Minerals Marketing Corporation of Zimbabwe (MMCZ), lithium export revenues fell 11% between January and September 2025, despite a 27% increase in production volumes — a trend attributed to global market oversupply, Mining Zimbabwe can report.

By Ryan Chigoche

During the period under review, lithium exports generated US$386.9 million, marking an 11% annual decline from last year. MMCZ says the drop in export earnings stems from prolonged price weakness, even as export volumes rose sharply over the same period.

“Despite the increase in tonnage, the value of exports decreased by 11%, from US$432.4 million in 2024 to US$386.9 million in 2025, mainly due to a fall in international spodumene prices,” MMCZ says.

The downturn comes amid a sustained glut in the China-dominated lithium supply chain, which has kept prices depressed for more than a year.

Global lithium prices shed 80% between March 2023 and 2024 and have yet to show meaningful signs of recovery, worsening the revenue squeeze for exporting countries like Zimbabwe.

For local producers, the earnings slump adds pressure at a time when companies have been pleading with the government to defer tax on lithium concentrates until the end of 2026.

Producers argue that the extension is necessary to allow them to raise capital for processing plants, which are required to meet beneficiation targets.

Currently, Zimbabwe levies a 5% VAT on lithium concentrates unless they are beneficiated to a specified level. Given depressed global prices, miners contend that a temporary tax moratorium would ease financial strain and give them room to invest in downstream capacity.

The government, however, has already announced plans to ban lithium concentrate exports from 2027, a policy designed to force companies to build in-country processing operations.

Despite the earnings decline, investor interest in Zimbabwe’s lithium sector remains strong. Kuvimba Mining House, for example, is advancing plans to develop a new mine at Sandawana by 2027, while Chinese-led investments continue to dominate the sector. The surge in investment, however, is unfolding against a backdrop of persistently low prices that continue to weigh on export revenues.

Zimbabwe has also solidified its position as a crucial supplier of lithium concentrate to Chinese refineries, following billions of dollars in investments by companies such as Chengxin Lithium Group and Zhejiang Huayou Cobalt.

Bikita Minerals, owned by Sinomine Resources Group, and Arcadia Lithium are both establishing processing facilities to produce higher-value lithium sulphate, marking a shift toward deeper beneficiation.

Meanwhile, the International Energy Agency (IEA) notes that the world will require roughly 55 additional lithium mines by 2035 to meet demand linked to the energy transition, underscoring the long-term importance of the battery mineral despite current market turbulence.

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