Zimbabwe's small scale miners anchored the industry as gold deliveries surged by 37 percent to 32.98 tonnes in the first nine months of 2025 compared to the same period last year, according to data from Fidelity Gold Refinery putting the country firmly on track to achieve its annual target of 40 tonnes.
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Small-scale miners contributed 24.5 tonnes - nearly 75 percent of the total output. In contrast, large-scale miners delivered 8.54 tonnes, slightly down from the previous year. September was the year's peak month for gold deliveries, recording 4.4 tonnes.
The growth in gold deliveries coincides with record-high global gold prices surpassing US$4,000 per ounce. This has boosted Zimbabwe's foreign currency reserves but has had limited effect on strengthening the Zimbabwe Gold currency, which is backed by gold and other minerals.
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