Online Reporter
Michael Tome, Business Hub
THE Chamber of Mines Zimbabwe (CoMZ) has projected a 7 percent growth in Zimbabwe’s mining sector in 2025, driven by robust performances in key minerals such as gold and coal.
According to the country’s leading mining industry lobby group, Zimbabwe’s extractive sector is expected to experience notable expansion, underpinned by rising production and export levels.
Gold mining recorded a 35 percent increase in output during the first quarter of 2025, while coal production surged by 61 percent, resulting in a significant increase in its contribution to total national mining output for the period under review.
The CoMZ anticipates continued double-digit growth in coal production, fuelled by heightened activity in the sub-sector.
Gold is expected to retain its position as the leading export driver, with its share of total mining exports rising to 40 percent from 25 percent, supported by stable global prices.
Although other minerals posted relatively weak performances, they are projected to rebound in the second half of the year, maintaining a positive growth trajectory for the sector overall.
Zimbabwe’s mineral revenues are forecast to increase to US$6,2 billion in 2025, up from US$5,9 billion in 2024, largely propelled by the gold sector. This growth will also be supported by rising gold prices, forecast to remain near record highs of US$3 000 per ounce, and higher production volumes.
The increase in gold prices is attributed to growing safe-haven demand amid ongoing geopolitical tensions and monetary easing in major economies.
Mining remains a strategically important sector in Zimbabwe, serving as the country’s largest source of export earnings — accounting for over 90 percent of total shipments, and employing thousands across the economy.
Speaking to the media ahead of the upcoming 2025 Annual Mining Conference, Chamber of Mines Zimbabwe Chief Executive Mr Isaac Kwesu said strong performances in the coal and gold sectors during the first quarter of 2025 had bolstered confidence in the sector’s outlook.
“While other minerals were relatively subdued in the first quarter, we anticipate the mining industry to grow by approximately 7 percent in 2025, a significant figure in both volume and value terms. Key minerals such as gold and coal performed exceptionally well during the first quarter.
“Gold recorded about 35 percent growth, while coal output increased by as much as 61 percent. This has significantly boosted coal’s contribution to national mining output, and there is potential for it to surpass double-digit growth, given the level of activity in the sub-sector.
“Gold will continue to lead overall exports. We’ve seen gold’s share rise from an average of 25 percent to 40 percent. With prices firming, we expect gold to continue driving export performance within the mining sector.
“Although other minerals were relatively subdued, we expect them to recover in the second-half of the year. This has historically been the trend. The overall growth outlook for the industry, therefore, remains positive,” said Mr Kwesu.
Economist Ms Gladys Shumbambiri-Mutsopotsi said the significant growth in gold and coal production during the first quarter of 2025 was encouraging and highlighted the resilience of Zimbabwe’s mining sector.
“A 35 percent increase in gold output, alongside a 61 percent surge in coal production, marks a notable achievement that will translate into stronger export earnings and wider economic benefits. However, we must ensure this momentum contributes to sustainable development, through reinvestment in infrastructure, environmental protection, and workforce capacity building,” she said.
Ms Shumbambiri-Mutsopotsi also emphasised the importance of diversification, stating that targeted support for underperforming minerals would be key to achieving balanced growth throughout the year.
Another economist, Mr Tinevimbo Shava, said the forecasted 7 percent growth in 2025 reflected the exceptional performances of the gold and coal sectors during the first quarter.
“A 35 percent rise in gold production and a 61 percent increase in coal output not only boost export revenues but also reflect growing investor confidence in Zimbabwe’s mineral potential,” he said.
“To sustain this momentum, policymakers must streamline regulatory frameworks, promote value addition through beneficiation, and invest in infrastructure to support ongoing projects. At the same time, revitalising underperforming mineral sectors through targeted incentives and capacity development will be critical to long-term growth.”
This comes as the Chamber of Mines Zimbabwe prepares to host its Annual Mining Conference in Victoria Falls from 21 to 24 May 2025.
The conference will run under the theme “Unlocking Growth Potential for the Zimbabwe Mining Industry,” reflecting the sector’s drive to foster sustainable growth and economic transformation.
The event is expected to bring together industry stakeholders, experts, and policymakers to deliberate on key issues shaping the future of Zimbabwe’s mining sector.
The programme will feature a variety of events, including a closed-door Annual General Meeting (AGM) and Council Meeting to address governance matters within the Chamber.
Day two will include the Gold Symposium, with expert speakers from South Africa, Ghana, and Zimbabwe, as well as a Platinum Group Metals (PGMs) Indaba. These sessions will offer valuable insights into the gold sector, Zimbabwe’s single largest source of export earnings.
The main conference and official opening ceremony will be held on the third day, with prominent speakers including the Governor of the Reserve Bank of Zimbabwe, the Deputy Minister of Finance, Economic Development and Investment Promotion, Mr David Mnangagwa, and the Zimbabwe Revenue Authority (Zimra) Commissioner-General, Ms Monica Chinamasa.
This segment will focus on pivotal themes such as the mining sector’s economic contribution, local content and empowerment, energy and financing solutions, and Environmental, Social and Governance (ESG) issues.
By placing these matters at the heart of the agenda, the conference aims to facilitate meaningful discussions and solutions to drive sustainable growth and development in the mining sector.
With optimism surrounding Zimbabwe’s mining prospects, buoyed by strong performances in gold and coal, the 2025 Annual Mining Conference presents a timely opportunity for stakeholders to address challenges, seize emerging opportunities, and chart a course towards sustainable sectoral growth and broader economic transformation.
