Story by Online Reporter
THE Government has reserved the small-scale gold mining sector exclusively for Zimbabwean citizens and wholly Zimbabwean-owned entities as part of sweeping reforms aimed at promoting indigenous participation, curbing mineral leakages and strengthening accountability in the mining industry.
The policy announcement was made by the Minister of Mines and Mining Development, Dr Polite Kambamura, who said the measures take immediate effect and are designed to ensure Zimbabweans derive greater benefit from the country’s mineral wealth.
Under the new framework, foreign investors currently operating within the small-scale gold mining category will be required to transition into large-scale operations by January 1, 2027.
According to the policy, affected operators must either increase production beyond 20 kilogrammes of gold per month or recapitalise investments above US$15 million to qualify for participation under the large-scale mining category.
Dr Kambamura said Government remains committed to maintaining an open and secure investment environment for foreign investors in medium and large-scale mining, value addition, beneficiation and infrastructure development.
“Government remains committed to maintaining an open, secure, and investment-friendly environment for responsible foreign investment in Zimbabwe’s mining sector,” the minister said.
The policy also introduces a raft of compliance measures targeting transparency, accountability and operational efficiency within the gold sector.
All gold produced in both the small and large-scale sectors will continue to be marketed through authorised channels in line with Zimbabwean law. Mining operators will also be required to maintain proper financial and production records while complying with taxation, environmental, labour and safety regulations.
As part of key considerations for the gold mining sector, Government has directed that senior and middle management positions at gold mines and other mining operations must comprise 98 percent Zimbabwean nationals.
“We expect immediate compliance to this call,” Dr Kambamura said.
The policy further states that foreign-owned gold mining rights will be sustained based on proven production performance and verifiable gold deliveries through authorised buying channels.
Government also warned that idle foreign-owned mining assets held for speculative purposes will come under scrutiny.
“In this vein, we encourage all idle foreign-owned gold mining assets to be developed. Government will be following up on all idle mining assets being held for speculation,” the minister said.
Mining firms will also be required to submit approved Environmental, Social and Governance (ESG) frameworks and Environmental Impact Assessments before commencing operations.
The ministry also urged heap leaching gold mines to immediately register with the Minister’s office and declare monthly production and elution plants.
According to the policy document, the reforms are intended to promote meaningful participation of Zimbabweans in mining, support the formalisation of indigenous enterprises, enhance transparency, prevent illicit mineral trade and ensure mineral resources contribute directly to national economic development in line with National Development Strategy 2.
