171 Investment Deals Worth US$1.2 Billion Clinched — ZIDA

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.