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At a time when resource nationalism is gathering pace across the continent, Zimbabwe has presented itself as a friendlier and more predictable mining environment, transparent as the country courts serious, long-term investors, Mining Zimbabwe can report.
By Ryan Chigoche
This was highlighted by the Permanent Secretary in the Ministry of Finance and Investment Promotion, George Guvamanga, at the ongoing Investing in Africa Mining Indaba 2026.
Across the region, rising resource nationalism has unsettled mining investors. In Mali, the government recently increased state participation in mining projects and temporarily took control of a major gold mine, raising concerns over regulatory stability.
In Burkina Faso, authorities have pushed for greater local ownership in gold operations, prompting some foreign investors to reassess their commitments.
Against this backdrop, Guvamanga, speaking at the Indaba, promised a stable, predictable alternative, with abundant mineral wealth and a transparent, pro-investment framework, as he called for quality investors to partner with Zimbabwe.
“In a global environment characterised by rising resource nationalism and regulatory uncertainty, Zimbabwe offers a compelling alternative mining destination. We offer world-class geology, competitive operating costs, and a legislated, transparent fiscal regime… However, Zimbabwe is not seeking speculative capital. We are seeking long-term, technically competent, and well-capitalised investors committed to responsible and profitable mining.”
To support this vision, Zimbabwe has deliberately structured its mining fiscal framework to encourage long-term, capital-intensive investment.
Incentives are designed to make projects bankable and attractive, including full deductibility of capital expenditure, indefinite carry-forward of mining losses, accelerated capital allowances, preferential corporate tax rates for strategic projects, VAT deferment on imported mining equipment, customs duty exemptions, and equal treatment for resident and non-resident investors.
Recent adjustments following the 2026 National Budget, such as suspending limits on the carry-forward of mining losses and maintaining flexible capital expenditure rules, signal the government’s intent to provide policy stability and reinforce investor confidence.
Beyond fiscal measures, the government is actively promoting local beneficiation, particularly for strategic minerals like lithium.
Export taxation has been aligned to encourage downstream processing and integration into global battery supply chains, while gold royalties are structured to ensure fair sharing of windfall gains without undermining mine viability.
Over the past year, Zimbabwe’s extractive sector has remained a key driver of the economy, contributing 14.5% of GDP and nearly two-thirds of total exports.
The country boasts more than 60 commercially exploitable minerals, including gold, platinum group metals, chrome, lithium, diamonds, coal, nickel, and tin. Ongoing exploration continues to uncover additional resources, including rare earth elements, reinforcing Zimbabwe’s growing strategic importance on the global mining stage.
With its rich mineral endowment, investor-friendly policies, and strategic location in Southern Africa, Zimbabwe is sending a clear message to the international mining community: this is a country for serious, long-term investors, not speculators.
