Zimbabwe's artisanal and small-scale miners delivered 23.7 tons of gold in 2024, nearly double the 12.7 tons from large-scale operators, but a parliamentary committee warned that some major producers are exploiting incentives designed for smaller miners. The Portfolio Committee on Mines and Mining Development reported that certain large-scale companies are channeling gold through small-scale operations to access benefits like five percent tax rebates and full foreign currency payments. Small-scale producers have dominated output since 2020, when they contributed 15 tons against 10.5 tons from industrial operations.
The committee recommended amending the Gold Trade Act by November 30 to designate Fidelity Gold as the sole national buyer and urged Treasury to fund formalization efforts by October 30. Parliament heard that large miners are undermining policies meant to curb smuggling and support rural livelihoods. The Zimbabwe Miners Federation told lawmakers that regulatory gaps allow major producers to exploit payment models intended for artisanal operations.
The committee recommended amending the Gold Trade Act by November 30 to designate Fidelity Gold as the sole national buyer and urged Treasury to fund formalization efforts by October 30. Parliament heard that large miners are undermining policies meant to curb smuggling and support rural livelihoods. The Zimbabwe Miners Federation told lawmakers that regulatory gaps allow major producers to exploit payment models intended for artisanal operations.
