Zimbabwe plans to claim a 26% share in future mining ventures and negotiate stakes in existing operations, Mines Secretary Pfungwa Kunaka revealed. The shift marks a move towards resource nationalism, departing from the 2017 policy allowing 100% foreign ownership.
The government already holds a 15% free-carry stake in Karo Platinum’s US$391 million project, with an option to buy 11% more. Similar policies in countries like Zambia and Tanzania have drawn investor concerns over rising costs and regulatory unpredictability.
Miners warn the policy may deter investment, particularly as commodity prices dip and capital becomes scarce.
