Zimbabwe to Seek 26% Stake in New Mining Projects
Zimbabwe plans to acquire a 26% free-carry stake in all new mining projects and will also negotiate with existing operators to secure similar shares in established projects.
Pfungwa Kunaka, Zimbabwe’s Secretary for Mines, told Bloomberg that the government aims for a 26% ownership in most major mining ventures. He added that these negotiations would involve discussions with investors already operating in the country.
Kunaka did not disclose how the government would finance these acquisitions. However, the move aligns with the rising trend of resource nationalism across Africa, where nations are seeking a larger share of profits from their natural resources.
Zimbabwe is home to various mining assets, including gold, platinum, lithium, and chrome, with key operators such as Zimplats, Unki Mine (Anglo American Platinum), and RioZim.
Kunaka noted that changes to existing agreements would require negotiations, as they were made under previous frameworks.
Details on the policy’s implementation, including the minimum value of mining assets that would trigger the government’s shareholding interest, will be revealed next year. Zimbabwe currently holds a 15% free-carry stake in Karo Resources’ platinum project.
