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The experts at the Zimbabwean Gold Investment Conference in Harare have raised concerns over the exploitation of minerals, highlighting the vulnerability of communities that are the custodians of these resources.
Zambian business leader and Chief Adviser Mabvuto Chipata stressed the importance of equitable distribution of value to prevent conflict. “Each one of us, the investor and the investor’s team, must retain value and ensure that there is an equitable distribution of value. The absence of equitable distribution causes conflict between communities and even between nations,” said Chipata. He added that it is crucial to understand “at what point who creates value and who loses value,” and highlighted that strong political will is essential. “If we know that gold is very valuable, we cannot leave it unregulated,” noted Chipata.
He also called for clear and consistent tax policies to attract investment. “You need to have a policy statement that empowers the communities where gold is found. Most minerals are discovered by locals in remote areas, but without clear policies, managing these communities becomes challenging,” explained Chipata. The adviser emphasised that haphazard changes in tax policy undermine investor confidence. “When we attract investors, we must ensure they achieve the returns they expect. At a policy level, it must be very clear that we are committed to a stable tax regime,” explained Chipata.
Moreover, the Principal Mining Engineer at EY Parthenon,Godknows Njowa underlined the need for greater investment in exploration. He said there is a need to invest in exploration and spend more to attract the necessary investment. The Chairperson of CBZ Holdings Limited,Luxon Zembe, highlighted Zimbabwe’s global potential. He concluded, “With the growing demand for minerals worldwide, Zimbabwe is positioned to be one of the key players in the mining sector globally.” The conference underscored that equitable practices, stable policies and strategic investment in exploration are critical for unlocking the full potential of Africa’s mining industry while supporting local communities.
