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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.
