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Post-Mugabe Zimbabwe Mining Rush Leaves Big Producers Behind

  • Mines minister says mining law changes expected by May
  • Government has partly rolled back local-ownership law
De Beers Studies Soaking Carbon Into Diamond-Mine Waste Rock
Photographer: Waldo Swiegers/Bloomberg
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While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach.

New President Emmerson Mnangagwa has a lot to prove as he seeks to revive the economy and attract mining investment that shriveled under his predecessor, Robert Mugabe. So far, Mnangagwa has pledged investor-friendly policy changes and partially rolled back a law requiring mining companies to be locally owned.