Mining ZimbabweLatest Mining News, Policy and Industry Updates

South African mining companies play a significant role in Zimbabwe’s mining industry through significant investments, ownership of key assets, and participation in joint ventures across platinum, gold, and infrastructure sectors.

Platinum Powerhouses: Implats, Sibanye, Valterra and Tharisa

Zimplats

Impala Platinum (Implats) holds an 87% stake in Zimplats, Zimbabwe’s largest platinum producer, operating across five underground mines and a smelter complex on the Great Dyke.

Mimosa

Implats also co-owns the Mimosa Mine in a 50/50 partnership with Sibanye-Stillwater, producing around 255 koz PGM concentrate per year.

Unki Mine

Recently owned by Anglo American Platinum (Amplats), Unki Mine is now owned by Valterra Platinum and produces an output of approximately 65 koz annually. Anglo still holds a 19.9% which it plans to reduce over time, but intends to do so responsibly and gradually. 

Tharisa & Karo SEZ

South Africa–listed Tharisa benefits from Zimbabwe’s special economic zone at Karo, where it holds a 27% indirect stake via Karo Zimbabwe, enjoying fiscal incentives in the Great Dyke region. 

Infrastructure & Support Services

Grindrod & Beitbridge–Bulawayo Railway (BBR)

South Africa’s Grindrod unit supports Zimbabwe’s freight rail revival by supplying locomotives and wagons to the BBR, aiding mineral export logistics.

AECI / AEL Mining Services

The Johannesburg‐based company supplies explosives and blasting services across Zimbabwean mine sites.

PPC Ltd

This South African cement conglomerate operates a cement factory and lime plant in Zimbabwe, serving mining infrastructure needs. The company operates multiple cement plants and a milling depot, contributing to the company’s overall capacity of around nine million tons of cement products annually.

South African firms contribute significantly to Zimbabwe’s mining GDP and foreign currency earnings. Revenue from Zimplats, Mimosa, and Unki alone accounts for over half of the nation’s exports. However, like all global operations, Zimbabwean affiliates face persistent challenges, including the PGM Price Slump.

Zimplats registered an $8.8 million loss in H2 2023, prompting voluntary job cuts and the deferment of capital-intensive projects.

Power shortages also impede operations across multiple mines, highlighting the need for sustainable energy solutions. This is also an open opportunity for investors intending to invest in the Energy sector.

However, despite these challenges, firms like Zimplats are maintaining investment momentum and remarkable CSR initiatives. A $1.8 billion expansion plan is currently underway, including smelter upgrades and solar power installations.

Zimbabwe’s success hinges on continued collaboration—partnering South African expertise with local policies to build resilient, growth-driven mining ecosystems.

The Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) has issued a scathing statement condemning the deteriorating labour conditions across the country’s diamond sector, as companies reel from falling global prices, unpaid wages, mass retrenchments, and growing unrest among mine workers, Mining Zimbabwe can report.

By Rudairo Mapuranga

With Zimbabwe’s rough diamonds reportedly selling for as little as US$30 per carat—a stark contrast to past highs—the entire industry is under pressure. The price collapse has led to sharp revenue losses, triggering a fresh wave of instability in the country’s diamond-producing regions.

In a press statement released on July 9, 2025, ZDAMWU General Secretary Justice Chinhema described the situation as a “triple threat” comprising plummeting productivity, rampant illicit trade, and a devastating labour crisis. He warned that the industry is “on the brink of collapse” if urgent reforms and protections are not implemented.

“Our members, hardworking mine workers in the diamond sector, are suffering amid a wave of layoffs, unpaid wages, and deteriorating labour standards at the country’s three diamond mining companies—ZCDC, Anjin Investments, and Murowa Diamonds,” Chinhema said.

ZCDC Retrenchments: Hundreds Face Job Loss Without Compensation

At Zimbabwe Consolidated Diamond Company (ZCDC), the union revealed that up to 600 workers are being laid off, with 295 already retrenched. Shockingly, those retrenched through the so-called “voluntary” process have not received their packages. The company has reportedly initiated compulsory retrenchments, which the union says violates the principles of fair labour practice and social protection.

“We condemn any forced or unfair retrenchment processes that violate workers’ rights and dignity,” ZDAMWU stated, urging ZCDC to halt the downsizing and engage workers in transparent and humane restructuring processes.

Anjin and Murowa: Sit-Ins and Protests Over Unpaid Salaries

At Anjin Investments, workers recently staged a protest demanding four months of unpaid salaries, while Murowa Diamonds workers are currently holding a sit-in over five months of unpaid wages. In both cases, the companies have reportedly failed to communicate adequately with employees or resolve long-standing salary disputes.

“These acts of negligence toward Zimbabwean workers are a gross betrayal of trust. Workers are producing wealth they never get to benefit from,” said a ZDAMWU representative on condition of anonymity.

Diamond Sector in Crisis as Global Prices Tank

The crisis is further compounded by weak global demand for rough diamonds and oversupply in international markets. Zimbabwe’s diamonds are now fetching as low as US$30 per carat—a figure industry observers say is unsustainable and undermines both profitability and viability for mining companies.

This has raised concerns that companies are using low prices as a justification to neglect labour obligations, while failing to introduce value addition, beneficiation, or domestic auctions to stabilise returns.

“We can’t allow the so-called price crash to become an excuse for abuse. These companies must honour their commitments to workers and explore real beneficiation to protect jobs,” said Chinhema.

ZDAMWU Demands Immediate Government Intervention

The union is now calling on the Government of Zimbabwe to intervene decisively. ZDAMWU has outlined the following key demands:

• Immediate payment of all outstanding wages across ZCDC, Anjin, and Murowa

• A halt to the forced retrenchments at ZCDC

• Transparent dialogue and restructuring processes with worker participation

• Long-term reforms to encourage value addition, protect jobs, and end reliance on raw diamond exports

Central banks around the world are expected to continue increasing their gold reserves, extending a trend that has already seen record levels of bullion buying over the past three years.

By Ryan Chigoche

According to the World Gold Council’s (WGC) latest Central Bank Gold Survey, 95% of the 73 central banks that participated believe global gold reserves will grow over the next 12 months.

Notably, 43% said they expect their own holdings to increase — the highest proportion recorded since the survey began and up significantly from 29% in 2024.

Last year marked the third-largest annual increase in central bank gold reserves on record, with net purchases reaching 1,129.8 tonnes.

That figure was just 6.2 tonnes below 2023 levels and only 91 tonnes short of the all-time high of 1,136 tonnes set in 2022 — the largest annual total since at least 1950.

To put that in context, central bank gold purchases averaged just 473 tonnes annually between 2010 and 2021.

The current buying streak has now extended into its 16th consecutive year.

The WGC noted that the rise in survey participation is not merely statistical but “a powerful signal of engagement with gold amongst the central banking community.” Seventy-six percent of respondents said they expect gold to hold a moderately or significantly higher share of total reserves over the next five years, up from 69% in last year’s survey.

“Expectations point to continued gold buying over the next 12 months, reflecting sustained confidence in gold’s strategic role amid evolving geopolitical and macroeconomic dynamics,” the WGC stated.

Declining Role of the Dollar

While gold’s share of global reserves has been rising, the U.S. dollar’s role has been slipping.

IMF data shows the dollar accounted for 57.8% of global reserves at the end of 2024 — its lowest level since 1994 and a 7.3 percentage point decline over the past decade. In 2002, the dollar made up roughly 72% of reserves.

WGC survey data suggests this trend is likely to continue. About 73% of central banks said they expect their dollar reserves to fall further over the next five years. The euro’s share of global reserves has remained relatively steady, meaning that gold — rather than the euro — has taken up the space left by the dollar’s decline.

Analysts have pointed to concerns about sanctions and the politicisation of major reserve currencies as reasons for the shift. As CNBC noted, gold is increasingly attractive to countries looking to shield themselves from the potential erosion of traditional monetary systems.

Why Gold?

The WGC survey found that interest rates are the most important factor influencing reserve management decisions. Inflation was cited as the second most important. Among emerging markets and developing economies (EMDEs), inflation and geopolitical risks were tied as the top reasons for buying gold, each cited by 84% of respondents.

When asked to rank the relevance of various factors in their gold allocation decisions, central banks pointed to gold’s historical performance during crises and its function as an inflation hedge as the most compelling attributes.

As the WGC concluded, “Gold’s safety, liquidity and return characteristics — the three key investment objectives for central banks — have risen in importance.” The Council added that demand for gold is expected to “remain healthy for the foreseeable future” as diversification and risk management become central to reserve policy.