NEW: Zimbabwe on course to surpass 2025 gold target and scale a new record highs

Semi-manufactured gold was the leading export commodity during the first quarter, earning the country US$1.4 billion.

Online Reporter

ZIMBABWE’S gold production reached 37, 06 tonnes in the first 10 months of the year, putting the country firmly on course to surpass its 40-tonne annual target for 2025, according to latest data released by Fidelity Gold Refinery.

The strong performance was driven by artisanal and small-scale miners, who delivered 27, 7 tonnes, representing close to 75 percent of total output.

Big mining companies contributed about 9,3 tonnes.

Based on the average monthly production rate of 3,7 tonnes recorded over the first 10 months, analysts project production for the remaining two months will push output above the 40-tonne target.

The latest data confirms the effectiveness of Government initiatives aimed at formalising and supporting small-scale miners, who have become the critical drivers of gold deliveries to the central buyer.