Online Reporter
Oliver Kazunga
Senior Reporter
ZIMBABWE is on course to surpass its 50-tonne gold production target this year after official deliveries reached 21,4 tonnes in the first six months, driven by record output from small-scale miners.
In the same period last year, deliveries stood at 20,1 tonnes.
According to data from Fidelity Gold Refinery, the country’s sole buyer of the yellow metal, deliveries increased from 9,3 tonnes in the first quarter to 12,1 tonnes in the second quarter, representing growth of about 30 percent.
The improvement was largely driven by small-scale producers, whose deliveries climbed from 6,5 tonnes in the first quarter to 8,4 tonnes in the second quarter.
Primary producers also registered strong growth, increasing deliveries from 2,8 tonnes to 3,7 tonnes over the same period.
In an interview, economic commentator Ms Wendy Mpofu said the latest figures demonstrated that gold remains the backbone of Zimbabwe’s export sector and a critical source of foreign currency.
“The nearly 30 percent improvement in second-quarter deliveries is encouraging because it shows production momentum is strengthening.
“The fact that small-scale miners continue to lead as the major contributors to Zimbabwe’s gold output, accounting for almost 70 percent of total deliveries, highlights the importance of continued efforts to formalise the sector. It is therefore imperative to ensure miners have access to finance, equipment and reliable markets,” she said.
Ms Mpofu added that if the positive output trajectory is sustained, gold will continue to play a pivotal role in supporting export earnings, foreign currency inflows and economic growth.
In 2025, Zimbabwe produced 46,7 tonnes of gold, up from 36,5 tonnes in 2024.
This year, the country is targeting at least 55 tonnes of gold.
Another economic commentator, Ms Chipo Warikandwa, echoed similar sentiments, saying the strong growth in gold deliveries reflected increased production and sales through formal channels.
“This is a positive development for the economy because gold is Zimbabwe’s major foreign currency earner. Sustained production will, therefore, have a positive knock-on effect on foreign currency receipts and improve the country’s export performance, especially at a time when gold prices remain high on the international market.
“What is important now and going forward is to sustain production growth while reducing leakages through illicit gold trading and ensuring producers remain adequately incentivised to sell through official channels,” she said.
Last month emerged as the strongest month so far this year, with total deliveries reaching 4,81 tonnes — the highest monthly output recorded in 2026.
Small-scale miners contributed 3,6 tonnes in June, while primary producers delivered 1,2 tonnes.
Overall, small-scale miners accounted for nearly 70 percent of all gold delivered during the first half of the year, reaffirming their strategic role in sustaining national gold production.
The continued growth comes as Government intensifies efforts to support the mining industry through formalisation initiatives, improved access to equipment and incentives aimed at boosting production and increasing foreign currency earnings.
Industry analysts say the strong second-quarter performance places Zimbabwe on course for another robust year in gold production if current trends continue.
Meanwhile, statistics recently released by the Zimbabwe National Statistics Agency (ZimStat) indicated that the yellow metal consolidated its position as the country’s export powerhouse in May this year, contributing 52,5 percent of Zimbabwe’s US$884 million export earnings as overseas sales continued on a positive growth trajectory.
The agency highlighted that semi-manufactured gold remained Zimbabwe’s single largest foreign currency earner, underscoring the mining sector’s central role in driving export performance and supporting the economy.
During the period under review, the country’s exports improved by 11,6 percent, from US$792,3 million in April to US$884 million in May, reflecting strong demand for Zimbabwean mineral and agricultural products on international markets.
Among the top 10 products exported in May were semi-manufactured gold, nickel mattes, and tobacco, partly or wholly stemmed/stripped, accounting for 52,5 percent, 14,3 percent and 7,1 percent of the total export value of US$884 million, respectively.
Nickel mattes emerged as the second-largest export after gold, contributing 14,3 percent of total export earnings, while tobacco, partly or wholly stemmed/stripped, accounted for 7,1 percent, underscoring the continued importance of mining and agriculture in Zimbabwe’s export basket.
