Home Mining Zimbabwe Allocates ZWL$2.7 billion to Formalize and Empower Small-scale Miners in 2024...

Zimbabwe Allocates ZWL$2.7 billion to Formalize and Empower Small-scale Miners in 2024 National Budget

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Zimbabwe’s government has allocated ZWL$2.7 billion to formalize and enhance the Artisanal and Small-scale Miners (ASM) industry, revealed during the presentation of the 2024 National Budget themed “Consolidating Economic Transformation” by Finance and Economic Development Minister Prof Mthuli Ncube.
The government’s strategy includes facilitating formalization processes for ASM operations and promoting environmentally friendly and safe mining techniques. Minister Ncube emphasized plans to equip ASM with affordable loan schemes to modernize their operations and bolster their working capital.
Prof Mthuli Ncube stated that with the objective of supporting these endeavors, Z$2.7 billion has been earmarked in the 2024 National Budget.
Small-scale miners notably account for over 60 percent of gold and chrome production in Zimbabwe, showcasing their significant contribution to the mineral industry.
Statistics indicate the potential for ASM to become a dominant force in the country’s mining sector. However, challenges regarding safety persist within the sector, with a majority of mining-related fatalities occurring in ASM operations.

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