Published: 19 hours ago

The Government of Zimbabwe has announced plans to tighten oversight of mining transactions, warning that individuals involved in selling mining titles through proxy arrangements could soon face blacklisting.

The warning was issued by Mines and Mining Development Minister Polite Kambamura during the Zimbabwe International Trade Fair (ZITF) in Bulawayo.

Kambamura said authorities had detected a rise in speculative trading of mining rights, where title holders allegedly disguise sales as legitimate investment partnerships while effectively transferring control to undisclosed third parties.

"We have noticed that there are people who are selling mining rights," he said. "The ministry will be blacklisting all those that will be selling their mining title in the name of selling to investors, yet they will be selling to proxies."

He warned that a formal policy pronouncement on the matter would be issued soon.

The minister stressed that small-scale mining is intended primarily for Zimbabweans, and government would not allow arrangements that undermine local participation.

"We noticed that there are those that are coming to invest in the small-scale sector… Small-scale mining is for Zimbabweans," he said.

As part of broader reforms, government plans to introduce tighter compliance measures for mining investments, including minimum capital requirements and mandatory regulatory approvals.

Investors will be required to process applications through the Zimbabwe Investment and Development Agency (ZIDA), obtain approval from the Ministry of Finance, and lodge investment capital with the Reserve Bank of Zimbabwe.

"They cannot just invest haphazardly," Kambamura said. "They need to come through ZIDA, the Ministry of Finance… and deposit with the Reserve Bank of Zimbabwe their investment capital."

The proposed crackdown forms part of a wider government effort to curb opaque transactions and ensure that mining rights are not exploited through intermediaries, particularly in the fast-growing small-scale mining sector.

Authorities say the new measures are aimed at protecting local interests while improving transparency and accountability in the industry.
- Business Times

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