By Staff Reporter
KWEKWE, Zimbabwe, June 13 — An International Monetary Fund (IMF) delegation currently in Zimbabwe on a reform review mission today toured Duration Gold’s Gaika Mine in Kwekwe, gaining firsthand insight into the country’s mining sector as part of broader consultations with private-sector stakeholders.
The delegation, led by IMF Mission Chief Wojtek Maliszewski, is in the country under a 10-month Staff-Monitored Programme (SMP), a non-financing arrangement aimed at supporting macroeconomic stability, strengthening governance, and advancing Zimbabwe’s re-engagement efforts with international financial institutions and creditors.
Today’s visit to Gaika Mine gave IMF officials an opportunity to observe operations at one of Zimbabwe’s gold-producing mines and engage directly with industry representatives on the opportunities and challenges affecting mining investment.
Duration Gold spokesperson Robert Mukondiwa said the company invited the IMF team to gain a practical understanding of the operating environment faced by internationally owned mining firms in Zimbabwe.
“We hosted the team to familiarise them with our operations and provide insight into both the opportunities and challenges associated with mining investment in Zimbabwe,” Mukondiwa said.
He noted that mining remains a critical pillar of Zimbabwe’s economic growth ambitions and highlighted issues such as security, regulatory consistency, and mining lease administration as important considerations for investors.
Mukondiwa also stressed the need for increased investment in greenfield mineral exploration, arguing that the long-term sustainability of the sector depends on the discovery of new mineral resources to replace declining reserves at mature mines.
“Many of Zimbabwe’s historic mines have operated for decades and face gradual resource depletion. Sustaining production over the long term requires continued investment in exploration and the identification of new mineral resources,” he said.
While acknowledging the significant contribution of artisanal and small-scale miners to national gold output, Mukondiwa said the future growth of the industry would depend on responsible large-scale mine development supported by systematic exploration.
“Artisanal mining is generally limited to near-surface deposits and therefore has a finite lifespan. It is also frequently associated with safety, environmental, and rehabilitation challenges. The long-term future of the sector lies in responsible mine development supported by systematic exploration and resource replacement,” he said.
Following today’s tour of Gaika Mine, the IMF delegation is expected to visit Duration Gold’s Vubachikwe Mine tomorrow before continuing engagements with government officials and other economic stakeholders.
Duration Gold co-director Dave Easterbrook said the visit allowed IMF officials to move beyond macroeconomic indicators and gain direct exposure to the realities of operating within Zimbabwe’s mining sector.
“The team gained an on-the-ground appreciation of the Zimbabwean mining story from a private-sector perspective,” Easterbrook said.
During today’s visit, the delegation toured mining and processing facilities, laboratory operations, and security infrastructure at Gaika Mine.
The IMF mission comes as Zimbabwe reports improving economic indicators, supported by tighter monetary policy, fiscal discipline, and stronger output from key sectors such as mining and agriculture. Rising gold production, alongside recovering platinum and lithium output, has contributed to economic growth, while inflation and exchange-rate volatility have moderated.
Insights gathered from today’s private-sector engagement and tomorrow’s planned visit to Vubachikwe Mine are expected to inform ongoing discussions under the Staff-Monitored Programme as Zimbabwe seeks to sustain reform momentum and strengthen confidence among international investors and creditors.
