Zimbabwe just drew a hard line for foreign miners concerning its gold

Zimbabwe is stepping up its campaign for resource-driven industrialization by prohibiting foreign individuals and firms from participating in small-scale gold mining, the latest move in a larger strategy to boost local ownership and promote the domestic mineral industry.

Polite Kambamura made public the policy in the country’s capital, Harare, which compels all foreign players participating in Zimbabwe's small-scale gold mining sector to either dramatically increase investment and production or cease operations by January.

The government claims the decision is intended to protect local jobs, empower indigenous miners, and keep more mining income within Zimbabwe.

“The small-scale gold-mining sector in Zimbabwe is reserved exclusively for Zimbabwean citizens,” he said.

This reservation applies to entities whose monthly production does not exceed 20 kilograms and whose total capital investment is valued at less than $15 million.