Zimbabwe’s state-owned Kuvimba Mining House is seeking $950 million (Z$25.1 billion) to revitalize its lithium, platinum, and gold assets, marking a significant step in the country’s mining sector expansion.
Under the leadership of CEO Trevor Barnard, the company is actively engaging with development banks, mining firms, and traders to secure the necessary funding, according to Bloomberg.
Now 70% owned by the state sovereign wealth fund, Mutapa Investment Fund, Kuvimba’s remaining shares are held by government finance entities, including state pension funds, power utilities, and a deposit insurance fund.
Barnard emphasized that the company’s new ownership structure has unlocked access to major development banks and global traders, positioning Kuvimba for growth.
Previously, efforts to secure funding were hindered by undisclosed private investors who held a third of the company. With those barriers removed, Kuvimba is now well-placed to attract investment and drive Zimbabwe’s mining industry forward.
