Chronicle Editor
Judith Phiri, Business Reporter
SEVERAL projects and initiatives are in the pipeline as the United Kingdom (UK) and Zimbabwe continue to strengthen mining partnerships.
Speaking at the 27th edition of the Mining, Engineering and Transport Expo (Mine Entra) Conference 2024, British Embassy Zimbabwe Head of Strategy and Engagement, Mr Harry Cox revealed that increasing trade and investment between the UK and Zimbabwe is a key strategic objective of the UK government.
“From the UK perspective, we see a partnership with Zimbabwe in mining built around three key pillars being institutional partnerships, commercial partnerships and environmental and social governance (ESG) partnerships,” he said.
He said on institutional partnerships, they were looking at formalising a number of partnerships building on good relations with the full range of stakeholders that include the Ministry of Mines and Mining Development, the Portfolio Committee on Mines and Mining Development, Chamber of Mines Zimbabwe and Mutapa Investment Fund, formerly known as the Sovereign Wealth Fund of Zimbabwe, among others.
Mr Cox said one of the areas for partnership was on geological survey. “There is potential for a partnership between the British Geological Survey and the Zimbabwe Geological Survey (ZGS).
It is focused on capacitating ZGS and digitising some of their data and management information processes. That is a partnership I am confident we can bring to fruition in the coming months,” he said.
Mr Cox said they were also committed to working closely with Zimbabwe to use international events to showcase opportunities in Zimbabwe for UK and international investors.
He revealed that the Minister of Mines and Mining Development, Minister Winston Chitando has been invited as a keynote speaker to Europe’s largest mining investor conference, Resourcing Tomorrow, which will be held in London in December.
“We are also working with the Chamber of Mines Zimbabwe and others on plans to facilitate introductions to UK investors at the Mining Indaba in February 2025,” said Mr Cox.
Regarding commercial partnerships, he mentioned that several mining companies from the UK or with UK connections are actively operating in Zimbabwe and are launching various projects. As an example, Mr Cox noted his visit to the Kavango Resources Hillside Gold Project in Filabusi, Matabeleland South Province last Wednesday.
“They are working on raising US$20 million to finance their next round of exploration, they intend for at least 25 percent of the money to be raised here in Zimbabwe, giving local investors in the country a genuine interest in the project.
“That will be further enhanced by their listing on the Victoria Falls Stock Exchange (VFex), which is planned for later this year,” he said.
Mr Cox said it was not just in the mining value chains that responsible UK mining operators may contribute to in Zimbabwe but also projects in other sectors.
He said the UK-listed Anglo-American’s Unki Mine in the Midlands Province has launched an initiative in horticultural value chains in areas surrounding the mine.
“This has resulted in the establishment of a horticultural pack house in Shurugwi, which supports 200 communal farmers who are actively growing sugar snap peas for export to the UK markets.
“It is also strengthening the technical and business skills of 600 smallholder farmers in Shurugwi and Gweru to access stable markets.
In total, it has led to the creation of almost 1 500 jobs within the neighbouring rural communities. This is what responsible mining partnerships can look like in Zimbabwe,” added Mr Cox.
He said there was also a growing number of UK companies specialising in artificial intelligence (AI) assisted mineral exploration processes in Zimbabwe as witnessed by some of the technology being used at the Kavango Resources site.
In terms of financing, Mr Cox said given the City of London’s role as a global centre of mining finance, in Zimbabwe key initiatives were being rolled out such as the Karo Mining Holdings Limited platinum project where the Government had a 15 percent stake in a free-carry basis.
In terms of the ESG partnerships, he said they were providing technical assistance to the Environmental Management Agency (EMA) to conduct an audit of environmental court judgments in Zimbabwe.
Mr Coz added: “We are also working with the Chamber of Mines Zimbabwe to help support the Government efforts to foster responsible mining by supporting grassroots communities to engage with mining projects in a more informed and empowered way.”
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