The Zimbabwe Miners Federation (ZMF) is in advanced engagements with a Saudi Arabian investment firm under a potential deal expected to unlock at least US$20 million to boost production and mechanisation in the artisanal and small-scale mining sector. The development comes as mining continues to anchor Zimbabwe’s economic growth.
Mining remains a key pillar of the national economy, contributing about 12 percent of GDP and over 80 percent of export earnings. With the sector driving much of the country’s economic momentum, fresh investments are viewed as critical for sustaining output and improving efficiency.
The latest initiative follows a December visit by ZMF leadership to Saudi Arabia, where they met executives from Al Shafri Group Holdings (ASG), a conglomerate with interests in mining and energy. Two weeks later, ASG representatives travelled to Zimbabwe for follow-up meetings aimed at mapping out concrete areas of collaboration.
Yesterday, ZMF convened a stakeholder meeting with the potential investors, presenting opportunities in gold, chrome, and base metals, together with the federation’s strategic priorities for the year ahead.
Speaking on the sidelines of the meeting with the media, ZMF president Henrietta Rushwaya said the discussions had been promising.
“On December 26, I visited Saudi Arabia and met with ASG representatives. We explored various investment opportunities in the mining sector. They have since made a follow-up visit, and we have shared with them our 2026 strategic roadmap and key investment areas,” she said.
Preliminary indications suggest a multi-million-dollar investment package focused on mechanising small-scale operations.
ZMF Treasurer Prosper Shumba said the facility would transform provincial clusters.
“We are looking at utilising this package for mechanisation. We will create clusters in each province and capacitate them through this facility,” he said.
Beyond gold, ZMF is also targeting massive growth in chrome output.
ZMF Chrome Cluster Chairperson Gift Karanda said chrome production was a top priority.
“Chrome production is one of the key areas of focus. We aim to grow our current capacity by five times so that we can support the national ferrochrome production forecast,” he said.
The federation believes the investment could significantly enhance the productivity of artisanal and small-scale miners, who are expected to deliver up to 50 tonnes of gold this year, while strengthening Zimbabwe’s broader mining value chain.
