Duration Gold Mine Director Allan Brent Dolan has urged the Government to provide greater support for junior exploration companies, saying they have a key role to play in discovering new mineral deposits and unlocking Zimbabwe’s vast mineral wealth.
Speaking at the 29th Mine Entra Conference and Exhibition, Dolan said increased support for exploration could help attract investment, create jobs, expand opportunities for local businesses and increase Government revenue through taxes and royalties.
He said new mineral discoveries would also contribute to Zimbabwe’s National Development Strategy 2026–2030 and support the country’s economic growth targets.
“The discovery of new mines, and the harnessing of their economic power, is a Government imperative. The challenge has been laid down,” he said.
Dolan, who has 30 years of international exploration experience in Africa, said junior exploration companies were responsible for a large share of new mineral discoveries around the world and across the continent.
“The lion’s share of new discoveries globally and in Africa, have been made by junior explorers, a figure that has constantly increased over the past 40 years, most recently approaching 90%,” he said.
“Junior exploration companies ARE, BY AN ORDER OF MAGNITUDE, the most successful funding structure for exploration.”
He said junior explorers are usually driven by geologists and promoters whose main focus is identifying major mineral deposits, while larger mining companies generally concentrate on production, operations and maintaining cash flow.
For Zimbabwe, Dolan said successful exploration could result in a pipeline of new mines, bringing fresh investment into the country and creating employment and business opportunities for local suppliers and surrounding communities.
He added that increased mining activity would generate wider economic benefits through taxes, royalties, export earnings and other economic linkages.
However, Dolan noted that mineral exploration carries significant risks, with only one in every 1,000 greenfields exploration targets estimated to eventually become a profitable mine.
He said investors therefore need a clear and reliable way of recovering their investment.
“It’s all about the EXIT,” he said, explaining that investors could exit through a takeover, trade sale or joint venture.
Dolan said Zimbabwe currently has no active TSXV-listed junior explorers, while three are listed on the ASX and another three on the LSE/AIM.
He called for a stable, predictable and competitive mining and fiscal policy environment that would give investors confidence and provide successful explorers with a clear route to sell their projects to larger mining companies.
Dolan said such measures could help Zimbabwe attract more international exploration capital and increase the chances of turning mineral discoveries into productive mines.
He proposed an independent study to benchmark Zimbabwe’s mining, exploration and fiscal policies against those of competing African and international jurisdictions.
“Government should investigate why there are no Senior or Intermediate Western Miners operating in Zimbabwe,” he added.
The call comes as Zimbabwe continues to seek greater investment in the mining sector, increase mineral production and derive more economic value from its natural resources to support national development and economic growth.
