Story by Theophilus Chuma
THE Zimbabwe Miners Federation (ZMF) is engaging a Saudi Arabian firm under a potential investment deal expected to unlock at least US$20 million aimed at boosting production and mechanisation in the artisanal and small-scale mining sector, as the mining industry continues to anchor the country’s economic growth.
The mining sector remains an important cornerstone of the country’s economy, accounting for at least 12 percent of the country’s GDP and contributing at least 80 percent of overall export earnings. Investments to this sector have been key to ensuring a robust sector , the latest of such being a visit by the Zimbabwe Miners Federation to Saudi Arabia as they sought to unlock interest from that source market.
The engagement follows a December visit by ZMF leadership to Saudi Arabia, where discussions were held with Al Shafri Group Holdings (ASG), a firm with interests spanning energy and mining. A fortnight later, representatives of the Saudi firm returned to Zimbabwe for follow-up engagements aimed at identifying concrete areas of collaboration.
On Thursday, the Federation convened a stakeholder meeting with the prospective investors, outlining opportunities across gold, chrome and base metals, alongside the federation’s strategic priorities for the coming year.
“On December 26, last year, I visited Saudi Arabia and met with representatives of the ASG. We explored a number of issues relating to the mining sector and how they can invest in our operations. They have made a follow-up visit, and we have outlined to them our strategic roadmap for 2026 as well as key areas of possible investments within our sector,” ZMF president, Ms Henrietta Rushwaya said.
Preliminary indications point to a possible multi-million-dollar investment chest towards mechanising the sector.
“We are looking at utilising this package towards mechanising our operations. Essentially, we will create clusters within each of the provinces, which will then be capacitated through this facility,” ZMF Treasurer, Mr Prosper Shumba said.
ZMF is not only looking at expanding the gold production portfolio, but also enhancing chrome production.
“Chrome production is one of the key areas of focus. We intend to grow our capacity by five times our current capacity so that we can then feed into the national ferrochrome production forecast,” ZMF Chrome Cluster Chairperson, Mr Gift Karanda noted.
“The scope of investment from this engagement will be critical to leveraging on the anticipated gold yield by the Artisanal and Small-Scale mining sector, pegged at 50 tonnes this year.”
The Federation says the engagement with Saudi investors could play a pivotal role in supporting artisanal and small-scale miners, who are expected to deliver up to 50 tonnes of gold this year, while also strengthening Zimbabwe’s broader mining value chain.
