Zimbabwe restricts foreign participation in small‑scale gold mining
CALGARY, Canada (July 3, 2026)—Pambili Natural Resources Company (“Pambili” or the “Company”) (TSXV: PNN) announces that the Zimbabwe Government has introduced new regulations prohibiting foreign individuals and companies from participating in small‑scale gold mining, defined as mines producing less than 20 kg (640 oz) of gold per month. This is part of a broader strategy to increase local ownership and retain greater value from the country’s mineral sector.
Although the policy has yet to be enacted, foreign operators currently active in the segment must either significantly scale up investment to US$15 million and increase production to 20 kg/month or exit the sector by January 2027.
Pambili’s Golden Valley A1 asset does not have the potential to meet the new production threshold on its own and, although Pambili’s core corporate strategy has always been focused on acquisitive growth towards 20,000 oz per annum, the Company is unlikely to meet the new 20 kg/month benchmark by the end of the year.
Consequently, the Board has initiated a multi-pronged mitigation strategy which includes exploring alternative high-yield asset acquisition opportunities in Zimbabwe and other jurisdictions, engaging in high-level diplomatic dialogue via the Canadian Embassy in Harare, and preparing for potential regulatory exemptions for foreign-listed entities. The Board is fully committed to protecting and enhancing shareholder value despite evolving regional dynamics.
Concurrently, the Board is maintaining its focus on operational fundamentals. Completing the audit of the 2025 Financial Statements remains a top priority as a precursor to lifting the FFCTO and returning the stock to trading, thereby ensuring the company is financially agile and fully equipped to execute on any transactions in its pipeline.