Zimbabwe pushes mineral processing as it takes aim at corruption

Bloomberg News | October 9, 2025 

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Zimbabwe pledged to crack down on illicit commodities trading and introduce rules to encourage downstream processing, as the nation seeks a greater share of the benefits from its natural resources.

Vice President Constantino Chiwenga told mining executives in the country’s second-biggest city, Bulawayo, that Zimbabwe remains “open for business, not for extraction.” He said corruption and illicit “leakages” were “cancers,” and that mining must drive industrialization and create jobs.

“To the processors and off takers, the era of raw mineral exports must give way to beneficiation and value addition,” Chiwenga said. “Government will implement strict regulations and oversight mechanisms to ensure that corruption within the mining sector is effectively addressed and eradicated.”

Resource nationalism is strengthening across Africa as government seek a bigger share of the revenue and profits from resources mined by foreign companies. Mining contributes 70% of Zimbabwe’s export earnings through shipments of gold, platinum, lithium and chrome.

However, the Treasury loses millions of dollars in tax and royalty revenues from the smuggling of gold and other minerals. Most of Zimbabwe’s gold is produced by small-scale miners, who at times get paid late by the state’s sole authorized buyer, Fidelity Gold Refinery, pushing some to use other channels.

(By Godfrey Marawanyika)