Zimbabwe’s mining sector is facing tighter restrictions on foreign participation in artisanal and small-scale operations, as the Government moves to increase indigenous ownership, strengthen regulatory oversight and direct foreign investment towards larger mining projects, Mining Zimbabwe can report.
By Rudairo Mapuranga
The measures centre on Statutory Instrument 215 of 2025, which reserves artisanal and small-scale mining exclusively for Zimbabweans, alongside a separate policy statement issued by Mines and Mining Development Minister Polite Kambamura in May 2026 outlining new conditions for participation in the small- and medium-scale gold mining sector.
The developments have significant implications for gold production, mining claims, existing foreign-backed operations and investment decisions across Zimbabwe’s small-scale mining industry.
SI 215 reserves artisanal mining for Zimbabweans
Gazetted on 11 December 2025, SI 215 of 2025 introduced the Indigenisation and Economic Empowerment (Foreign Participation in Reserved Sectors) Regulations, establishing new conditions for foreign participation in designated sectors of the economy.
Artisanal mining is listed among 13 sectors exclusively reserved for Zimbabweans. Unlike certain other reserved activities, where foreign participation is subject to minimum investment and employment thresholds, the instrument does not specify a qualifying investment threshold for artisanal mining.
The regulations also provide a transitional framework for existing foreign-owned businesses in reserved sectors, requiring regularisation plans and progressive equity divestment. The Ministry of Industry and Commerce’s published guidance sets out a three-year process under which affected businesses are required to transfer at least 75% of their equity to Zimbabwean citizens, subject to the applicable provisions and requirements.
For mining investors, the distinction between the rules governing artisanal mining and those applicable to other business activities is important when assessing existing investments and proposed new ventures.
Gold mining policy sets out production and investment thresholds
In May 2026, Kambamura issued a separate policy statement addressing participation in Zimbabwe’s small- and medium-scale gold mining sector.
The statement defines the category by reference to monthly gold production of up to 20 kilogrammes and/or capital investment of up to US$15 million. It says foreign investors participating in the category must transition to operations above the prescribed small-scale thresholds to qualify under the applicable large-scale mining framework.
The policy also set 1 January 2027 as the deadline for existing operators to regularise their operations with the Ministry of Mines and Mining Development. The proposed process includes verification of citizenship and beneficial ownership, disclosure of corporate and financing structures, and checks on production, investment and regulatory compliance.
The policy statement is distinct from SI 215, although both address foreign participation and indigenous ownership. Their interaction is particularly important for operators whose activities may fall within both the reserved-sector regulations and the mining-specific policy framework.
Investors should therefore establish how their mining titles, ownership structures, production levels and proposed operations are treated under the applicable requirements rather than assume that meeting a production or investment threshold automatically resolves every compliance obligation.
Mining claims and operating performance under scrutiny
Kambamura’s policy statement also places emphasis on the use of existing mining assets and the performance of operators holding gold mining rights.
The Minister said applications for additional gold mining claims by existing operations would be considered on the basis of demonstrated productivity, operational performance and effective utilisation of currently held locations.
The statement further called for idle foreign-owned mining assets to be developed, warning against the speculative holding of mining assets without meaningful progress towards production. It also emphasised the need for transparent production records, compliance with mineral marketing requirements and the use of authorised gold-buying channels. <Cite refs={[“turn217238search5”]}/>
These measures bring operational performance into sharper focus for investors holding mining claims. Beyond securing mineral rights, operators will need to demonstrate that their assets are being developed and that production and deliveries can be verified.
For small-scale gold mining, where access to finance, equipment, geological information and processing capacity can determine whether a claim becomes commercially productive, the implementation of these requirements will be closely watched.
Implications for gold production and formalisation
Zimbabwe’s small-scale mining sector plays an important role in gold production and the livelihoods of mining communities. Any changes affecting ownership, investment and operating structures therefore have consequences beyond the legal status of individual businesses.
The Government has linked the mining-specific policy to broader objectives that include formalising indigenous mining enterprises, improving accountability, preventing illicit mineral trading and ensuring that mineral wealth contributes to national development.
The practical challenge will be implementing the restrictions while supporting productive operations, improving compliance and maintaining reliable gold deliveries through authorised channels.
For existing operators, uncertainty over ownership arrangements, financing structures and the classification of mining activities could affect investment decisions. Clear guidance from the Ministry of Mines and Mining Development will be important in determining how the policy applies to individual projects.
The distinction between an operation classified as small-scale and one qualifying under the large-scale framework will also be significant for foreign investors assessing whether to restructure, expand production or commit additional capital.
Foreign investment shifts towards larger projects
The policy direction does not amount to a blanket prohibition on foreign investment across Zimbabwe’s mining industry. Instead, the regulations reserve artisanal and small-scale mining for citizens, while the mining-specific policy encourages foreign participants in small- and medium-scale gold mining to transition to operations above the prescribed thresholds.
Large-scale mining, mineral beneficiation, processing and related infrastructure remain important areas for investment, subject to the laws and approvals applicable to each project.
For Zimbabwe, the central test will be whether the new measures increase meaningful local ownership and productive use of mineral resources while providing a clear, consistent regulatory pathway for responsible investment.
As the 1 January 2027 deadline set out in the gold-mining policy approaches, the response of existing operators and the clarity of implementation guidance will be critical in determining how the changes affect production, mining claims and investment across the sector.
