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Zimbabwe’s failure to finalise the Mines and Minerals Amendment Bill is costing the country investment, the Chamber of Mines of Zimbabwe has warned, as it urged the government to conclude a review process that has left investors unable to price risk, Mining Zimbabwe can report.
By Ryan Chigoche
Chamber of Mines Chief Executive Officer Isaac Kwesu told the Ministry of Mines and Mining Development’s strategic planning workshop in Kadoma that the bill remains “an elephant in the room in the sector”, with investors demanding a resolution.
“They want to be guaranteed certainty and predictability. They want closure on this one,” Kwesu said.
According to Kwesu, investors are seeking answers on three key issues. The first concerns definitions: the bill introduces a new definition of minerals and reclassifies them into critical and strategic categories. The second relates to ownership, particularly the size of the stake the state intends to take in mining operations classified as critical or strategic. The third concerns the legal framework, specifically whether the provisions will be enacted through legislation or a statutory instrument.
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On the ownership question, Kwesu said the policy intent was understood, but the extent of state participation remained unclear. He said investors wanted clarity on “specifically how much the government has to take.”
On the legal question, Kwesu said the general direction was clear, but the mechanism remained uncertain. Investors, he said, wanted clarity on “whether this has to be through a legislation or SI that clearly explain what this means in terms of law.”
The bill has been under review for years. The Chamber has warned that the absence of a settled framework complicates project financing, as mining developments typically require long-term commitments spanning decades. Lenders and equity partners factor in the risk of changing rules on ownership, marketing and fiscal terms, a discount that ultimately weakens the country’s investment case.
Kwesu directed his appeal at the ministry’s own planning cycle, saying the sector was looking to the 2027 strategy to bring the matter to a close.
“We understand the means to assist with this, but this is also an area that we are looking forward that maybe through your strategy, you’ll be able to finalize on this area,” he said.
Responding at the same workshop, Mines Permanent Secretary Dr Thomas Utete Wushe pledged that the bill would be finalised by year-end, according to remarks delivered at the event. The commitment offers investors a timeline they have long sought, although the Chamber has received similar assurances before and is now pressing for delivery rather than intent.
Kwesu also raised concerns about the mining cadastral system, which he said was among the first issues Chamber members raised with him. He added that the sector was ready to support the government’s efforts to computerise the mining information system by providing data and technical resources.
Zimbabwe’s mining sector is the country’s largest source of foreign exchange, and the government’s 2027 strategy relies on it to anchor industrialisation and increase output of lithium, platinum, gold and chrome. Those targets depend on investment decisions that, in turn, hinge on the final shape of the bill.