Online Reporter
Michael Tome
Business Reporter
ZIMBABWE’S mining industry capacity utilisation is projected to grow to 95 percent in 2026, up from 88 percent in 2025, driven by significant expansion plans across key areas — gold, platinum group metals (PGMs) and lithium.
This is according to the Chamber of Mines of Zimbabwe (CoMZ).
A CoMZ mining industry survey says mining executives remain upbeat about their production prospects for next year, where they are expecting mining growth.
The survey attributed the projected increase in production to ongoing expansion projects across key commodities and expectations of firmer international prices for gold, PGMs and lithium.
CoMZ said incremental output across the mining sector was expected to rise between 2 percent and 5 percent. Overall sector growth in 2026 would rely on supportive policy frameworks, it added.
Capacity utilisation in the gold sector is forecast to reach 96 percent in 2026, up from 89 percent in 2025, with 70 percent of gold producers planning to operate at full capacity next year.
Gold output is projected to rise to 50 tonnes, from the expected 47 tonnes in 2025, supported by widespread expansion initiatives.
All surveyed gold producers reported plans to inject additional capital into their operations in 2026, buoyed by favourable prices of the precious metal that have strengthened internal financing capacity.
The PGMs sector is expected to operate at 100 percent capacity for the third consecutive year, with production set to grow by an average of 4 percent next year following a 2,5 percent contraction in 2025.
Producers attribute the recovery to expected improvements in platinum prices and efficiency gains from ongoing operational optimisation.
Lithium producers are expected to register the most significant increase in capacity utilisation, rising to 98 percent in 2026 from 79 percent in 2025, as companies ramp up production to feed new lithium sulphate processing plants under development.
Lithium concentrate output is projected to nearly double to 3,5 million tonnes in 2026.
According to the survey, recovery in lithium prices next year is also expected to support the anticipated surge in output.
Palladium output is projected to rise to 15 850kg in 2026 from 15 100kg in 2025, while diamond production is expected to increase to 6 300 000 carats in 2026 from 5 600 000 carats in 2025.
Coal output is expected to increase to 7 360 000 tonnes in 2026 from 6 400 000 tonnes in 2025, while chrome production is projected to reach 2 900 000 tonnes next year from 1 900000 tonnes this year.
“Average capacity utilisation for the mining industry is expected to reach 95 percent in 2026, up from 88 percent in 2025. Key sectors anticipated to drive the improvement in capacity utilisation are gold, chrome, PGMs and lithium,” said Professor Albert Makochekanwa, the lead researcher of the “State of the Mining Industry Report”.
“Most mining players indicated that they were ramping up production towards achieving full capacity utilisation to take advantage of attractive prices, while others were increasing output to compensate for revenue losses emanating from subdued prices.”
Mines and Mining Development Minister Winston Chitando said the year ahead was expected to see a marked improvement in economic performance, largely driven by stronger activity in the mining sector, which continues to anchor the overall growth momentum.
He said this improved outlook was coming from expectations of higher production volumes, firmer commodity prices and sustained investment across key mineral segments, factors that are poised to reinforce broader economic stability in the coming year.
“Prospects for the coming year are anticipated to be considerably brighter than the present one,” said Minister Chitando.
“Economic growth is projected to improve noticeably next year, driven largely by the expected expansion in the mining sector.
“Overall sentiment is also a bit more optimistic for next year relative to 2025, reflecting greater confidence in the recovery and performance of key industries.”
Reserve Bank of Zimbabwe Deputy Governor Dr Innocent Matshe said the country’s external sector position remains favourable, supported by sustained growth in foreign currency inflows, buoyed by firm international prices of gold and platinum, two of the country’s key mineral exports.
Continued resilience in commodity markets has helped stabilise the country’s balance of payments and provided a buffer for the economy.
According to Dr Matshe, mineral receipts have strengthened the country’s capacity to meet external obligations, while easing pressure on foreign exchange markets.
“Overall, the country’s external sector position has remained favourable, characterised by increased performance in foreign currency receipts, mainly driven by favourable gold and platinum prices,” he said.
