Business Reporter
Beneficiated products now account for 95 percent of Zimbabwe’s total mineral export value, the Minerals Marketing Corporation of Zimbabwe (MMCZ) has said.
This comes as the Government pushes for even deeper domestic processing to capture maximum value and shield the economy from global price shocks. Zimbabwe’s aggressive push for mineral beneficiation and value addition has yielded targeted subsector policies that have attracted massive investment into local processing facilities.
The Government of Zimbabwe’s push for deeper mineral beneficiation is primarily informed by the need to capture higher export revenues, retain economic value domestically and drive local industrialisation rather than shipping raw ores overseas.
Under the 2026–2030 Strategic Plan and the National Development Strategy 2 (NDS2), the Government aims to transform the composition of mineral exports so that all mined resources undergo local processing before reaching international markets
While acknowledging the milestones, the Government is calling for deeper value addition to anchor its industrialisation agenda and maximise value retention for the country.
A prime example of the regulatory trajectory is the tightening of controls on raw and semi-processed minerals, notably in the chrome and lithium subsectors. The Government previously banned the export of unprocessed chrome ore to compel miners to invest in local smelting capacity and export higher-value ferrochrome instead.
Building on that, the Government also introduced the landmark ban on raw lithium ore exports — coupled with a clear roadmap towards restricting raw lithium concentrate shipments — forcing major mining houses to commit hundreds of millions of dollars toward local refining and sulphate processing infrastructure.
Addressing stakeholders at the MMCZ Annual General Meeting recently, MMCZ chairman, Mr Jemister Chininga, revealed that while export volumes have surged nearly two-and-a-half times since 2018, raw tonnage alone has failed to insulate national earnings from price volatility.
In 2025, MMCZ marketed 4,89 million tonnes of minerals valued at US$3,4 billion, up from 1,99 million tonnes worth US$1,627 billion in 2018.
Over the eight years, the state-owned agency sold more than 23,3 million tonnes of minerals, generating about US$21,4 billion in export earnings. Mr Chininga pointed to sharp fluctuations between volume and revenue as proof that Zimbabwe cannot rely solely on primary extraction and basic processing.
“The lesson is that volume alone does not secure value,” he said. “Our earnings remain exposed to international commodity prices and there have been years when we sold more, but each tonne earned less.
“Even in 2025, volumes grew faster than value. This is why the board supports the Government’s policy on beneficiation and value addition, and why we press for market diversification and continue to act against mineral leakages.”
Data underscores the vulnerability of selling lower-tier mineral products during market downturns. In 2021, export earnings peaked at US$3,2 billion from 2,1 million tonnes.
The following year, despite volumes jumping by more than 50 percent to 3,2 million tonnes, revenue dropped to US$2,5 billion. A similar trend occurred in 2024, when a record 4,14 million tonnes yielded nearly US$3 billion, falling short of the US$3,2 billion generated from 3,49 million tonnes in 2023.
To counter these price swings, the Government has maintained a firm policy stance requiring mining houses to move further up the value chain.
Mining is the cornerstone of Zimbabwe’s economy, serving as its primary engine for foreign currency, export earnings and national output.
