Mining Industry Loan Fund

This Fund is administered by the Ministry of Mines and Mining Development. The Mining Affairs Board approves all loans.

PURPOSE

To assist and promote legal mining and production of minerals by small to medium

scale miners.

FUNDING SCHEMES AVAILABLE

. Plant Hire Scheme

This involves hiring out of mining equipment on a hire to buy basis for a period of 36 months at 20% interest rate per annum.

. Loans giving out of loans to assist development of mines.

TYPES OF LOANS

Establishment Loans:-

given to miners for the establishment and/or re-establishment of mines where professional officers are satisfied of the economic viability of the mining operation.

Interest rate 30%

Development Loans:-

given for mine and infrastructure development.

Interest Rates:

a) Speculative Development loans 32%

b) Highly Speculative Development loans 35% The loan amounts given vary according to need and availability of funds.

Eligibility

Small to medium scale miners who hold registered mining claims.

How To Apply

Applications are done through the Mining Commissioners (Ministry of Mines and

Mining Development) in the different districts.

(Approval of loans is done by the Mining Affairs Board) Repayment of Loans

Repayment of loans is done through the office of the Mining Commissioners (Ministry of Mines and Mining Development).

Mining Equipment

A variety of mining equipment is available at the Fund's 3 Workshops in Harare, Bulawayo and Gweru. The Workshops repair and fabricate other equipment. Equipment that is produced at the workshops include:

Magazine boxes

Extractor boxes

Windlasses etc

For more information contact any Ministry of

Mines and Mining Development Offices.