Online Reporter
Tapiwanashe Mangwiro
Business Reporter
GOLD deliveries to the Fidelity Gold Refinery (FGR) rebounded sharply in May 2026, climbing 18,84 percent to 3 951.01 kilogrammes from 3 324.59 kg in April, the strongest monthly performance of the year so far.
The figures represent a commanding 13,27 percent year-on-year improvement over the 3 488.06 kg delivered in May 2025, when output dipped 9,48 percent from April 2025’s 3 853.58 kg, underscoring the fragility that marked last year’s trajectory versus the relatively strong momentum building in 2026.
Small-scale and artisanal producers powered May’s solid output.
This category of miners delivered 2 740.76 kg, accounting for a dominant 69,37 percent of total deliveries, surging 29,85 percent from 2 110.66 kg in April.
Deliveries from primary producers were nearly flat, at 1 210.26 kg against April’s 1 213.94 kg, a marginal decline of just 0,30 percent.
Cumulatively, gold miners have delivered 16 587.53 kg (16.59 tonnes) to FGR across January to May 2026, representing about 33,2 percent of the country’s ambitious 50-tonne annual target with just five months elapsed.
To reach 50 tonnes, the producers need to deliver 33 412.47 kg across the remaining seven months, requiring a monthly average of 4 773.21 kg, a figure Zimbabwe has never consistently sustained in any single month this year.
Monthly performance in 2026 has been uneven. January opened at 3 044.97 kg, February rose to 3 412.95 kg before March plunged to 2 854.00 kg, the year’s worst month. April’s partial recovery to 3 324.59 kg paved the way for May’s breakout.
The first quarter total stood at 9 311.92 kg, while the second quarter has accumulated 7 275.61 kg through May, with June still outstanding.
The Government set the 50-tonne target, representing approximately a 7 percent increase over the record-breaking 46,73 tonnes delivered in 2025.
At the current pace, bridging that gap will demand consistent, significant acceleration.
