Online Reporter
Business Reporter
ZIMBABWE’S gold production reached 37, 06 tonnes in the first 10 months of the year, putting the country firmly on course to surpass its 40-tonne annual target for 2025, according to latest data released by Fidelity Gold Refinery.
The strong performance was driven by artisanal and small-scale miners, who delivered 27, 7 tonnes, representing close to 75 percent of total output.
Big mining companies contributed about 9,3 tonnes.
Based on the average monthly production rate of 3,7 tonnes recorded over the first 10 months, analysts project production for the remaining two months will push output above the 40-tonne target.
The latest data confirms the effectiveness of Government initiatives aimed at formalising and supporting small-scale miners, who have become the critical drivers of gold deliveries to the central buyer.
This publication recently reported that gold exports for the nine months to September 2025 surged 71 percent, according to the latest statistics from the Reserve Bank of Zimbabwe.
From January to September, gold exports reached a staggering US$1,93 billion, a massive jump from the US$1,1 billion recorded over the corresponding period in 2024.
The comparison between the two years shows a consistent upward trajectory, with 2025 figures surpassing 2024 in every month except May.
The massive year-on-year growth is largely attributed to a combination of factors.
International gold prices have remained at elevated levels throughout 2025, significantly boosting the value of the exports.
Global demand for the safe-haven asset amidst geopolitical and economic uncertainty has also played a critical role.
Initiatives to formalise the artisanal and small-scale mining (ASM) sector and offer competitive, prompt payment for gold deliveries appear to be paying off.
A significant portion of the growth is believed to be channelled through legitimate export channels, reducing leakages.
Higher production volumes, particularly from the small-scale sector, have contributed substantially to the overall increase in export value.
The months of June, August, and September were particularly strong, each recording an increase of over 100 percent compared to the previous year.
