In 1980, most mines were foreign owned, minerals were exported in raw form and transfer pricing was high. As result, MMCZ was formed to:

• Curb Mineral Leakages: Ensuring that Zimbabwean minerals are fully accounted for through minimizing malpractices in the mineral trade, such as transfer pricing, under declarations and under-invoicing.
• Control and Facilitate Exports: To control and handle the sales and exports of all minerals mined in Zimbabwe (except gold and silver).
• Gather Market Intelligence: Through managing information on international mineral markets, trends and technological advancements for the benefit of the mining industry.

MMCZ opened its doors to the public on 7 March 1983 with only one office in Harare. Over the years, the Corporation has established offices in Gweru, Kwekwe, Masvingo, Hwange and Zvishavane.