Zvishavane-based platinum producer Mimosa Mining Company has partnered with local banks to raise about US$15 million to support its Local Enterprise Development (LED) programme, in a bid to strengthen local supply chains and promote domestic manufacturing, Mining Zimbabwe can report.
By Ryan Chigoche
The initiative is part of the company’s long-term strategy to empower local suppliers who provide consumables such as personal protective equipment (PPE), machinery components, and chemicals to the mining industry.
The fund will enable small and medium-scale enterprises to access financing and improve their production capacity to meet industry standards.
Speaking during the recent Mine Entra Conference, Mimosa’s Head of Finance and Administration, Mr Edmore Tafirenyika, said the mining sector was making progress in promoting local participation and supplier growth.
“There have been a few strides that we have made in the mining sector in trying to promote local competency. And most importantly, issues around Local Enterprise Development (LED) have been key,” he said.
Through partnerships with CBZ Bank and two other local banks, Mimosa has created a revolving fund that will finance supplier development.
Each financial institution contributed about US$5 million, bringing the total facility to US$15 million. The fund will not only support LED programmes but also provide direct assistance to local suppliers.
Several companies have already benefited from the initiative, with Mimosa purchasing products made in Zimbabwe as part of its backward integration strategy.
The miner is also finalising a new LED project involving community tailors in Zvishavane who will produce PPE locally — items that were previously imported.
In addition to bank partnerships, Mimosa has committed a further US$5 million from its own resources to support LED projects over the next five years.
The company believes such programmes will help develop competitive local manufacturers and gradually reduce reliance on imported consumables.
Mr. Tafirenyika emphasised the need to focus more on domestic production to enhance competitiveness and sustainability within the mining value chain.
“It will be very desirable that we turn as much as we possibly can towards local manufacturing, towards locally producing our own critical mining consumables. That way, it not only puts us on the map but also goes a long way in reducing the overall cost of our mining operations,” he said.
The LED initiative underscores Mimosa’s commitment to inclusive economic growth, community empowerment, and industrial development, aligning with national goals to increase local content and build resilient mining-linked industries.
