Zimbabwe plans to secure a 26% free-carry stake in all new mining projects and negotiate similar stakes in existing operations, according to Secretary for Mines Pfungwa Kunaka.
“We aim to achieve 26% shareholding in most major projects,” Kunaka stated in an interview with Bloomberg, emphasizing the need for negotiations with current investors to implement this strategy.
The Secretary did not elaborate on how the government plans to finance its stake acquisitions in established mining projects.
This policy aligns with a growing trend of resource nationalism across Africa, where governments seek a more significant share of mining revenues to address historical imbalances and ensure fairer wealth distribution.
Zimbabwe, which mines key resources such as gold, platinum, lithium, and chrome, hosts major operators including Zimplats Holdings, Anglo American Platinum’s Unki Mine, and RioZim.
Kunaka acknowledged the complexity of altering existing agreements: “When decisions were made years ago under a specific framework, you cannot change them arbitrarily—it requires negotiations.”
Details about the minimum value of mining assets targeted for government stakes remain undisclosed, but Kunaka confirmed the policy will take effect next year.
Zimbabwe already holds a 15% free-carry stake in platinum miner Karo Resources, signaling a foundation for its broader strategy.
