HARARE, May 22 (Xinhua) -- The Zimbabwean government on Friday announced a new policy measure that exclusively reserves small- and medium-scale gold mining for indigenous Zimbabweans.
Addressing a press conference in the Zimbabwean capital, Harare, Mines and Mining Development Minister Polite Kambamura said no foreign individual, foreign-controlled company, or foreign beneficial owner shall be permitted to acquire, hold, or control small-scale gold mining titles, or to participate directly or indirectly in their operation or management.
Foreign investors are also prohibited from entering into any arrangements, including tribute agreements, joint ventures, syndicates, or partnerships, intended to confer control over reserved mining activities, Kambamura said, warning that any nominee arrangements, proxy ownership structures, or undisclosed beneficial ownerships shall be deemed illegal and subject to cancellation.
According to the minister, the new policy defines small- and medium-scale gold miners as operations with a monthly gold production of up to 20 kilograms and capital investment of up to 15 million U.S. dollars.
All individuals and entities currently operating within the sector are required to regularize their operations and re-register with the ministry on or before Jan. 1, 2027. The re-registration process shall include verification of citizenship, beneficial ownership, and compliance with environmental, tax, and labor laws.
To comply with the new rules, foreign investors currently active in the small-scale sector must transition to large-scale operations by Jan. 1, 2027, by increasing their monthly production beyond 20 kg and/or recapitalizing their investments beyond 15 million dollars.
Kambamura said the Zimbabwean government remains committed to maintaining an open, secure, and investment-friendly environment for responsible foreign investment in medium- and large-scale mining, value addition, beneficiation, and infrastructure development projects.
To strengthen production accountability, the minister announced additional regulatory measures, including an immediate requirement that senior and middle management staff at all mines must comprise 98 percent Zimbabwean nationals.
Furthermore, gold mining rights held by foreign investors shall be granted based on demonstrated production performance above the prescribed small-scale thresholds, rather than speculative holding.
"In this vein, we encourage all idle foreign-owned gold mining assets to be developed. The government will be following up on all idle mining assets being held for speculation," the minister said, urging all heap-leaching gold mines to immediately register and declare their monthly production and elution plant operations.
