Staff Reporter

 Government is pursuing a 26% shareholding in all major mining projects as part of its broader agenda to secure a greater share of mineral wealth.

Speaking to the media yesterday, Secretary for Mines Pfungwa Kunaka emphasised the Government’s commitment to implementing this policy in both new and existing mining operations.

“We need to move to a level where we reach 26% shareholding in most of the big projects. This is part of ensuring that Zimbabweans benefit directly from their resources,” Kunaka explained.

He added that the Government would engage in negotiations with current operators to implement the policy, acknowledging the challenges involved.

“Obviously, when you have decisions that were made some years back and those decisions were based on a certain framework, you cannot just willy-nilly go and change that; it takes negotiations. It’s a delicate process, but it’s one we are committed to undertaking,” Kunaka said.

While the Government has not yet outlined the specific financial mechanisms to fund these acquisitions, Kunaka hinted that clear guidelines would be released soon.

 “We are finalising the framework to make this policy operational. It will involve fair and transparent processes to ensure that all stakeholders are considered,” he said.

Economic analysts have applauded the initiative, describing it as a transformative step for Zimbabwe’s mining sector.

Tinashe Moyo, an economic analyst, said, “This policy is a significant step towards resource nationalism, ensuring that the benefits of Zimbabwe’s rich mineral resources are shared more broadly among its citizens.”

Dr. Nkosana Sibanda, a mining sector expert, echoed similar sentiments, stating, “By securing a substantial stake in mining ventures, the government positions itself to have a more active role in the sector’s development, which can lead to more sustainable and inclusive economic growth.”

Meanwhile, this policy is part of a broader trend in Africa, where resource-rich countries are increasingly demanding a bigger stake in mining ventures.

Zimbabwe already holds a 15% free-carry share in Karo Resources’ platinum mining project, with an option to acquire an additional 11%.