Duration Gold Mine Director Allan Brent Dolan has called for stronger support for junior exploration companies, saying they are critical to discovering new mines and unlocking Zimbabwe’s mineral wealth for the benefit of the country.
Speaking at the 29th Mine Entra Conference and Exhibition, Dolan said supporting exploration could help Zimbabwe discover new minerals, attract investment, create employment and increase Government revenues through taxes and royalties.
He said new mineral discoveries could also play a major role in helping Zimbabwe achieve its National Development Strategy 2026–2030 and GDP 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, has 30 years of international exploration experience focused on Africa, said junior explorers account for the majority of new mineral discoveries globally and on 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 explained that junior explorers are generally led by geologists and promoters and focus on discovering major mineral deposits, unlike larger mining companies that are mainly focused on production, operations and cash flow.
For Zimbabwe, Dolan said, successful exploration could create a pipeline of new mines, bringing fresh capital into the country while creating jobs and opportunities for local suppliers and communities.
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He said increased mining activity would also benefit Government through taxes, royalties, export earnings and wider economic activity.
However, Dolan said exploration remained highly risky, with only one in 1,000 greenfields exploration targets estimated to become a profitable mine.
He stressed that investors therefore require a clear pathway to recover their investment.
“It’s all about the EXIT,” he said, noting that this could come 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 three on the LSE/AIM.
He called for a stable, predictable and competitive mining and fiscal policy framework, as well as a clear route for successful explorers to sell projects to larger producers.
Such a framework, he said, would make Zimbabwe more attractive to international exploration capital and increase the chances of discovering deposits that could eventually be developed into productive mines.
Dolan proposed an independent study benchmarking Zimbabwe’s mining, exploration and fiscal policies against 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 seeks to expand mineral production, attract investment and increase value from its natural resources as part of efforts to drive economic growth and achieve its development targets.
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