Zimbabwe’s mining industry remains opaque and prone to revenue leakages, despite being one of the country’s largest sources of foreign currency, a new report by the SIVIO Institute has found.
The study, Mining and the Development Agenda: An Overview of Revenue Reporting in the Mining Sector, warns that while the sector generates billions of dollars annually, communities near mining operations see little improvement in living standards.
“While Zimbabwe boasts vast mineral wealth, including platinum, gold, diamonds, and chrome, the benefits are not equitably shared,” the report says. “Revenue flows are often unclear, and some companies fail to publicly disclose production figures, taxes paid, or community investments.”
SIVIO points to weak governance and under-reporting as key challenges. The institute says illicit financial flows, informal mining, and a lack of transparency mean the country’s dependence on mining exports has not translated into meaningful development for most citizens.
Although the government has pledged to grow mining into a US$12 billion industry, researchers warn that without stronger oversight, the sector risks deepening inequality.
“Zimbabwe is not yet a member of the Extractive Industries Transparency Initiative (EITI),” the report notes. “Efforts to domesticate EITI principles remain fragmented, and critical data remains unavailable to the public.”
The report calls for closer collaboration between Parliament, civil society, and state agencies such as the Zimbabwe Revenue Authority (ZIMRA) and the Minerals Marketing Corporation of Zimbabwe (MMCZ). It recommends that all mining contracts, production data, and company payments be made publicly accessible.
SIVIO also urges mandatory reporting of corporate social responsibility (CSR) contributions. Between 2017 and 2024, mining firms tracked by the institute contributed just 2% of profits to community projects, despite earning more than US$10 billion in gross revenue.
“The lack of accountability means that host communities, which bear the brunt of environmental damage, continue to live in poverty,” the report warns.
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