By Itai Mazire

The mining sector, through the Zimbabwe Investment and Development Authority (ZIDA), signed 171 investment deals during the first and second quarters of 2025, expected to bring inflows amounting to US$1.2 billion across the sector’s value chain.

Speaking at the ongoing 2025 Mine Entra Conference in Bulawayo, Mines and Mining Development Minister Winston Chitando said Zimbabwe boasts over 60 known minerals, although only a quarter of them are currently being mined. He added that vast investment opportunities remain open to global investors.

“Investments are flowing in, reflecting global confidence in our vision. According to ZIDA, we have witnessed significant growth in mining investment, with 80 and 91 new investment licences issued in the first and second quarters respectively. These are projected to attract over US$1.2 billion worth of investment in the form of capital equipment, cash, equity, and debt financing,” said Minister Chitando.

He highlighted the launch of the Palm River Energy and Metallurgical Special Economic Zone (PREMSEZ) in Beitbridge in February 2025 — a US$3.6 billion project expected to produce one million tonnes of steel per annum (both carbon and stainless), one million tonnes of thermal coal, and 500,000 tonnes of coking coal annually.

Minister Chitando also noted that Zimplats’ expansion project, valued at US$1.8 billion, had recorded major milestones.

“Under the expansion programme, 35MW of the 185MW solar project and an expanded smelter were commissioned by His Excellency, the President, Cde Dr Emmerson Mnangagwa,” he said.

He further outlined developments at the Zhongjin Heli Energy Five Mile Industrial Park, a vertically integrated, circular-economy complex combining coke production, coal-fired power generation, and cement manufacturing from fly ash. The facility includes:

A coke battery (Phases I and II) producing 500,000 tonnes per year;

A power generation plant with a capacity of 235MW (100MW in Phase I and 135MW in Phase II); and

A cement plant capable of producing 500,000 tonnes annually.

Minister Chitando said these projects are designed not only to boost output but also to create long-term value through economic growth, environmental stewardship, and social development.

The Mine Entra 2025 Conference, which runs from October 8 to 10 under the theme “Beyond Extraction: Sustaining the Future of Mining,” has attracted regional and international investors from across the globe.

The Minister emphasized that the government’s focus extends beyond mineral exploration to include beneficiation and value addition, ensuring maximum benefits for the nation.

“Export restrictions for all base mineral ores and beneficiation taxes have spurred progress. Lithium companies are advancing battery-grade lithium processing, such as at Prospect Lithium Zimbabwe, where a Lithium Sulphate Plant is under construction,” he said.

He reaffirmed the government’s position that exports of lithium concentrates will be banned by 2027, while exports of chrome ores and chrome concentrates are already prohibited.

“In the PGM and coal sectors, we are advancing value addition through expanded smelting and coking capacities. Progress is particularly notable in coke production, a critical input for metallurgy,” Minister Chitando added.

He revealed that research is underway to develop processing methods for PGM oxides, as Zimbabwe moves towards establishing a base metal refinery. In the iron and steel sector, the Dinson Iron and Steel Company (DISCO) Manhize plant has begun producing deformed bars and steel billets, with plans to expand into a broader range of steel products, including angle iron and flat bars.

“This value-oriented approach ensures that wealth is retained within Zimbabwe, creates jobs, and positions the country as a leader in the energy transition. True sustainability means ensuring that our people benefit first,” said Minister Chitando.

ZB Financial Holdings (ZBFH) has called for a phased and carefully managed approach toward Zimbabwe’s goal of adopting a mono-currency system by 2030, warning that rushing the process could undermine economic stability.

The group’s strategy executive, Trymore Muhlanga, made the remarks this week as the financial institution prepares to roll out its 2026–2030 mid-term strategy, which aligns with government’s broader vision of consolidating the Zimbabwe Gold (ZiG) as the country’s sole legal tender by the end of the decade.

Muhlanga said the government’s currency transition must be supported by consistent policy measures and gradual market adaptation.

“As a group, we are fully supportive of government initiatives,” he said. “What the central bank will likely do between now and 2030 is to steadily increase the use of our domestic currency. At the moment, around 90% of transactions are conducted in United States dollars or other foreign currencies, so it’s important to rebalance that gradually.”

He explained that the process should involve a step-by-step reversal of the current foreign currency dominance, moving from a 90/10 ratio in favour of the US dollar to 70/30, then 50/50, before eventually transitioning to full use of the ZiG.

“If we don’t manage that transition properly, we may not achieve the level of success that the economy desires,” he cautioned.

Muhlanga’s remarks come as the authorities press ahead with the controversial plan to scrap the multi-currency system by 2030, a move that has drawn mixed reactions from the business sector and the general public amid concerns over currency confidence and inflation stability.

Meanwhile, ZB Bank’s SSCI certification — officially recognised during the Global Sustainable Finance Conference held on September 25, 2025, in Germany — was hailed as a major milestone for the group.

Reserve Bank of Zimbabwe (RBZ) deputy governor Jesimen Chipika commended the institution for integrating sustainability into its corporate operations.

“Allow me to extend my heartfelt congratulations to ZB Bank on attaining this comprehensive sustainability certification,” Chipika said. “This achievement is a testament to the institution’s resolve and commitment to embed holistic sustainability principles across all aspects of its operations.”

The certification aligns with ZB Bank’s long-term goal of embedding environmental, social, and governance (ESG) standards into its strategy, reinforcing its position as one of Zimbabwe’s leading financial institutions championing sustainable growth.

Transport and Infrastructural Development Minister, Hon. Advocate Felix Tapiwa Mhona has officially inaugurated the 2025 edition of the Africa Infrastructure and Construction Conference (AfriConfex) at the Zimbabwe International Trade Fair (ZITF) Hall 3 in Bulawayo.

Running under the theme “Smart Moves: Powering Zimbabwe’s Infrastructure Evolution,” this year’s AfriConfex has drawn participants from across Africa’s transport, construction, and engineering sectors, all focused on shaping the continent’s next phase of infrastructural growth.

In his keynote address, Minister Mhona outlined a visionary roadmap for Zimbabwe’s infrastructure transformation, anchored on three critical pillars championing digitalization, embedding sustainability, and fostering strategic partnerships.

“Our goal is to build infrastructure that is both foundational and futuristic infrastructure that drives economic growth while embracing sustainability and smart technology,” Hon. Mhona said.

He further emphasized the strategic importance of leveraging Zimbabwe’s central geographical position as a gateway to regional trade, noting that government efforts to modernize key road networks and border posts are central to this vision.

“Through our ongoing investments in road upgrades and the modernization of border facilities, we are positioning Zimbabwe as a competitive and efficient hub for trade and transport across Southern Africa,” he added.

The conference attracted senior government officials and industry leaders, including Eng. D. Jana, Chief Director of Roads, and Mr. G. Mashababe, Director General of the Civil Aviation Authority of Zimbabwe (CAAZ).

AfriConfex 2025 is expected to facilitate dialogue between public and private stakeholders, foster investment partnerships, and promote innovation in infrastructure planning, construction, and maintenance.