Online Reporter
Michael Tome
Business Reporter
THE Government is targeting between US$6,5 billion and US$7 billion in mineral export revenue this year, banking on the strong performance from gold, platinum group metals and lithium.
This comes as the mining sector continues to play a pivotal role in anchoring economic growth and generating foreign currency inflows.
Mining accounts for more than 75 percent of Zimbabwe’s foreign currency earnings, while the sector employs several thousand across the country.
Apart from anchoring the economy, mining is critical in maintaining the stability of Zimbabwe’s domestic currency, ZiG, a gold and foreign currency-backed unit of account.
Zimbabwe generated an estimated total of US$8.6 billion from all mineral exports in 2025. Record-breaking gold deliveries and a strong performance across the base and energy minerals drove the outturn.
Mines and Mining Development Minister Polite Kambamura said the sector had already generated about US$2 billion in revenue inflows to the fiscus as the country approaches the 2026 halfway mark.
The minister expects gold to remain the country’s primary export earner, supported by firm international prices that have continued to trend upwards amid global economic uncertainty and frenzied buying by central banks.
Zimbabwe’s mining industry is expected to record solid growth this year, supported by strong gold production, improving PGM prices and expanding lithium mining and processing operations.
The rapidly growing lithium sector, given the mineral’s key role in electric vehicle batteries and energy storage systems, will further strengthen the sector’s contribution to the economy.
Minister Kambamura said recent engagements with lithium producers indicated progress in moving up the mineral value chain.
One of the key producers, Prospect Lithium Zimbabwe, is working on lithium carbonate production, a higher-value product, which allows it to move away from low-value concentrate.
Minister Kambamura said this on the sidelines of the Ministry of Mines and Mining Development staff engagement held under the theme “Towards the Best-Performing Ministry in Government”.
He expressed confidence that rising global commodity prices and increased local beneficiation would significantly boost mining export receipts during the remainder of the year.”
“As we go towards the first half of the year, we are about US$2 billion of revenue inflows to the fiscus. Going forward, we are looking at around US$6.5 billion to US$7 billion in export receipts.
“We are looking forward to this being anchored by export receipts from minerals such as gold.
“World market prices for gold are continuing to firm up. PGM prices are also firming up, and the coming in of lithium prospects with this lithium sulphate product is actually a feather in our cap in terms of improved revenue for the Government.
“We look forward to firming up of metal prices globally and an increase in export revenues, aided by firm Government policies that continue to incentivise local value addition and beneficiation,” said Minister Kambamura.
The Government’s focus on beneficiation is part of efforts to retain more value from the country’s mineral resources and maximise economic returns from mining activities.
Recent policy reforms and provisions contained in draft amendments to the Mines and Minerals Bill seek to promote domestic processing of minerals, particularly lithium, before export.
Authorities believe the strategy will stimulate industrialisation, create jobs and increase export earnings through the sale of higher-value products.
The policy shift could position Zimbabwe as a significant player in the global battery minerals value chain, particularly as demand for lithium products continues to rise due to the global transition towards clean energy technologies.
Beyond production targets, Minister Kambamura challenged ministry officials to improve efficiency, transparency and service delivery, setting an ambitious goal for the ministry to become the best-performing Government department by year-end.
“By the close of this year, I want the Ministry of Mines and Mining Development to be recognised as the best-performing ministry in the whole of Government, measured not by our words, but by results.
“I want us to be the ministry that answers correspondence on time, processes titles and permits without delay, produces accurate data, resolves disputes fairly and that the public trusts,” Minister Kambamura said.
The minister said achieving this objective would require a culture of accountability, professionalism and responsiveness throughout the ministry.
Speaking at the same event, Mines and Mining Development Deputy Minister Caleb Makwiranzou outlined key institutional reforms to modernise the sector’s administration and improve its governance.
“Our priorities are clear: completing the computerisation of the mining cadastre system so that titles are issued transparently and efficiently, equipping our offices and our inspectorate with the vehicles, instruments and technology they need, investing in the continuous training and welfare of our people and modernising our data and records systems,” he said.
The mining cadastre system will improve transparency in the allocation and management of mining claims while reducing administrative bottlenecks that have historically slowed investment and project development.
The Government believes that strengthening institutional capacity, coupled with favourable commodity prices and increased beneficiation, will place the mining industry on a stronger growth trajectory and reinforce its role as a key pillar of Zimbabwe’s economic development strategy.
With gold prices remaining near record highs, PGMs markets showing signs of recovery and lithium investments gathering momentum, the Government is optimistic that the sector can achieve its ambitious export earnings target and continue providing critical support to the country’s fiscal and external balances.
The sector contributes between 13 and 15 percent of the country’s Gross Domestic Product (GDP) and remains one of the largest sources of export earnings and foreign currency generation.
