Gold Exports Hit US$748 Million In 2025

Rutendo Mazhindu

ZimNow Reporter

Zimbabwe’s gold exports jumped to US$748.24 million between January and May 2025, a sharp rise from US$599.04 million recorded during the same period in 2024, according to data from the Reserve Bank of Zimbabwe and Fidelity Gold Refinery.

The 24.9 percent increase is being driven by record-high global prices and increased deliveries by artisanal and small-scale miners (ASM), who now account for nearly 70 percent of total gold production.

The Zimbabwe Miners Federation (ZMF) attributed the growth to global gold prices breaching US$3,000 per ounce for the first time, as well as higher activity among small-scale producers. In April 2025, the global price of gold peaked at US$3,125 per ounce, boosting local earnings and production margins.

ZMF president Henrietta Rushwaya said the sector was well-positioned to beat the government’s annual target of 40 tonnes.

“We are expecting to produce between 50 and 52 tonnes of gold this year if current trends continue,” said Rushwaya.

“The small-scale mining sector has been instrumental and continues to dominate, contributing 69.9 percent of total gold deliveries.”

According to official figures, Zimbabwe produced 15.12 tonnes of gold from January to May 2025, up from 11.85 tonnes in the same period last year a 27.6 percent year-on-year increase. Of the total, ASM producers delivered 10.57 tonnes, compared to 6.94 tonnes in 2024 a 52.3 percent surge.

However, May 2025 saw a slight month-on-month dip, with gold output declining to 2.58 tonnes from 2.63 tonnes in April. ASM deliveries in May stood at 1.79 tonnes, compared to 1.84 tonnes the previous month.

Rushwaya said small scale miners needed increased support to sustain and grow their contributions.

“If the government can support farmers through agricultural input schemes, we are saying the same can be done for small-scale miners through equipment leasing, technical training, and subsidised fuel,” she said.

She also said Zimbabwe would require more than US$1 billion in fresh capital to meet its long-term goal of 100 tonnes per annum.

“To reach 100 tonnes per year, we need serious investment in infrastructure, processing technology, and formalisation of the informal mining sector,” she said.

ZMF is also urging tighter control on foreign-owned mining claims and more protection for communities living in resource rich areas.

“Communities must be prioritised. We are advocating for laws that safeguard local interests and ensure that mining directly benefits surrounding areas,” said Rushwaya.