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Zimbabwe bans foreigners from small-scale gold mining
2 hrs ago |
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Zimbabwe has banned foreign companies and individuals from participating in small-scale gold mining in a move aimed at protecting local jobs and strengthening the domestic economy.
Speaking in Harare on Friday, Mines Minister Polite Kambamura said all foreign investors and entities currently involved in small-scale mining must either expand their investment and production capacity or cease operations by January next year.
"The small-scale gold-mining sector in Zimbabwe is reserved exclusively for Zimbabwean citizens," Kambamura said.
The government defined small-scale producers as miners whose monthly gold output does not exceed 20 kilogrammes and whose capital investment remains below US$15 million.
Small-scale miners play a critical role in Zimbabwe's gold sector, contributing approximately 65 percent of the country's total gold production.
Official figures show that Zimbabwe produced about 12,637 kilogrammes of gold during the first four months of 2026, representing a 1.3 percent increase compared to the same period last year.
Authorities say the latest policy is part of broader efforts to empower local miners, create employment opportunities for Zimbabweans and ensure that more benefits from the country's mineral wealth remain within the local economy.
Gold remains Zimbabwe's largest foreign currency earner, with the government increasingly focusing on boosting production while tightening regulations in the mining sector.
Speaking in Harare on Friday, Mines Minister Polite Kambamura said all foreign investors and entities currently involved in small-scale mining must either expand their investment and production capacity or cease operations by January next year.
"The small-scale gold-mining sector in Zimbabwe is reserved exclusively for Zimbabwean citizens," Kambamura said.
The government defined small-scale producers as miners whose monthly gold output does not exceed 20 kilogrammes and whose capital investment remains below US$15 million.
Small-scale miners play a critical role in Zimbabwe's gold sector, contributing approximately 65 percent of the country's total gold production.
Official figures show that Zimbabwe produced about 12,637 kilogrammes of gold during the first four months of 2026, representing a 1.3 percent increase compared to the same period last year.
Authorities say the latest policy is part of broader efforts to empower local miners, create employment opportunities for Zimbabweans and ensure that more benefits from the country's mineral wealth remain within the local economy.
Gold remains Zimbabwe's largest foreign currency earner, with the government increasingly focusing on boosting production while tightening regulations in the mining sector.
Source - Bloomberg
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