Online Reporter
Michael Tome
Business Reporter
GOVERNMENT has intensified its fight against gold smuggling and mineral leakages amid concerted efforts to shore up national gold reserves to back the ZiG currency, a Cabinet minister has said.
Gold is Zimbabwe’s single largest export.
In 2025, the country achieved historic records in its gold sector, driven by high global prices and increased output.
Total gold exports reached US$4.61 billion, while overall gold production rose to an all-time high of 46.7 tonnes to 50.6 tonnes.
Mines and Mining Development Minister Dr Polite Kambamura said the ministry was constantly conducting inspections at major mining operations across the country to plug loopholes.
Speaking after touring Freda Rebecca Gold Mine in Bindura, Dr Kambamura said the nationwide exercise is aimed at ensuring that all gold produced is channelled through formal markets.
This eliminates leakages that undermine national revenues and foreign currency reserves.
Dr Kambamura urged miners and other stakeholders to support the stability of the gold-backed ZiG currency by increasing gold production and ensuring all output is delivered through official channels.
“We are currently going around the country monitoring mining operations to ensure that there are no leakages, minimise gold smuggling in an effort to build our gold reserves as Government.
“We should be proud of our ZiG, but to do so, we need to take that gold from the ground, that gramme from the ground, that kilogramme from the ground,” said Minister Kmabamura.
The minister’s visit coincided with strong production results from State-owned Mutapa Gold Resources, which exceeded its gold production targets during the first half of 2026.
Chief executive Mr Patrick Maseva-Shayawabaya said the company produced 1 836 kilogrammes of gold in the six months to June, outperforming budget in both quarters.
Production reached 921kg during the first quarter ending March before increasing slightly to 925kg in the second quarter ending June.
Mutapa Gold Resources, which operates Freda Rebecca, Shamva and Jena gold mines, is implementing an expansion programme designed to significantly increase production over the next 18 months.
As part of the expansion strategy, a consortium of local banks has committed US$125 million towards the development of Shamva and Jena mines, providing critical capital to expand mining operations and increase output.
Dr Kambamura welcomed the company’s restructuring into specialised resource business units, saying the new operating model had already begun improving efficiency and productivity across its mining portfolio.
He said the planned investments are expected to increase combined monthly gold production from the current 300 to 310 kilogrammes to between 570kg and 600kg before year-end, representing a substantial boost to Zimbabwe’s gold output.
