Online Reporter
Business Writer
Zimbabwe recorded an 84 percent surge in mineral export revenues during the first half of 2026, generating a record US$2,532 billion from US$1,376 billion in the same period last year, the latest official statistics show.
In a statement, Minerals Marketing Corporation of Zimbabwe (MMCZ) general manager, Dr Nomusa Moyo, attributed the sharp revenue increase to rising global market demand, favourable commodity prices and the practical implementation of Zimbabwe’s domestic mineral processing policy.
The earnings represent the largest half-year mineral export figure recorded by MMCZ for the first half (H1) of any year.
MMCZ is the State-owned exclusive marketer of all minerals, except gold and silver, which fall under the purview of the Reserve Bank of Zimbabwe (RBZ) through its buying and refining arm, Fidelity Gold Refinery.
“The US$2,5 billion recorded demonstrates the impact of the beneficiation and value addition policy,” said Dr Moyo.
“Based on the market trends and performance of our key mineral commodities, we are confident of surpassing our projected annual revenue this year.”
Three primary export commodities dominated performance, collectively generating more than 74 percent of the total revenue.
Platinum Group Metals remained MMCZ’s primary revenue stream, contributing 33,93 percent of the overall export value.
Spodumene concentrates accounted for 26,57 percent of total earnings while PGM concentrates contributed 13,73 percent to total sales.
The performance underscores Zimbabwe’s positioning as a strategic international supplier of PGMs and battery raw materials, anchoring the global transition towards renewable energy and electric vehicles.
Another notable highlight of the first half performance was the growing footprint of lithium sulphate.
In April this year, Zimbabwe officially entered the midstream market by dispatching Africa’s first-ever export consignment of lithium sulphate from the newly commissioned US$400 million Prospect Lithium facility in Goromonzi.
According to data from the Zimbabwe Lithium Association, the output of high-value lithium sulphate is projected to climb steadily from 130 000 tonnes in 2026 to 169 000 tonnes in 2027, before surging to 264 000 tonnes in 2028, 312 000 tonnes in 2029, and reaching a peak of 344 000 tonnes by 2030.
The processing surge comes as primary extraction figures adapt to Government mandate changes, with raw spodumene ore production expected to drop from 963 049 tonnes in 2026 to 467 000 tonnes in 2027.
Similarly, early-stage spodumene concentrate output is forecast to decrease from 1,2 million tonnes in 2026 to 636 090 tonnes in 2027 as operations prioritise internal chemical processing over raw exports.
Unlike unrefined ore, lithium sulphate undergoes extensive in-country processing prior to shipment, enabling the country to retain greater value within the battery material supply chain.
Dr Moyo noted that the emergence of processed lithium represents a concrete step towards establishing Zimbabwe as a regional battery mineral processing hub.
The shift aligns with the Government’s Vision 2030 agenda focused on industrialisation and higher-value exports, including ferrochrome, finished steel and polished granite slabs.
“The results confirm that success in the mineral sector is no longer measured simply by export volumes, but by the value realised from every tonne exported,” said Dr Moyo.
“We are increasingly exporting products such as ferrochrome, steel, polished granite slabs and lithium sulphate, which command significantly higher values than unprocessed minerals.
This aligns with the Government’s Vision 2030 objective of accelerating beneficiation, industrialisation and sustainable economic growth,” she said.
Beyond facilitating mineral exports, MMCZ is reinforcing mineral accountability and revenue assurance through enhanced contract monitoring, price verification, mineral valuation and inspection systems.
“MMCZ is investing in digitalisation and laboratory capacity to improve transparency, traceability and mineral accounting across the export value chain.
These investments are expected to further safeguard national mineral revenues while improving the efficiency and integrity of Zimbabwe’s mineral marketing system,” Dr Moyo said.
