Online Reporter
Martin Kadzere
Zimbabwe’s gold export receipts surged 61 percent for the 8 months to August, reaching US$2,6 billion compared to US$1,62 billion in the same period in 2025, according to the latest figures from the Reserve Bank of Zimbabwe (RBZ).
Mining analysts said the strong earnings growth was driven by surging global prices and sustained expansion in domestic production.
The international bullion market has experienced strong prices throughout 2026, underpinned by geopolitical uncertainty, central bank reserve accumulation and global monetary policy shifts.
Gold remains Zimbabwe’s premier foreign exchange earner, accounting for about half of the country’s total export basket, far outpacing other traditional export pillars such as tobacco, platinum group metals and nickel.
The total volume of gold shipped between January and August 2026 reached 31,459 tonnes, generating US$4,45 billion in total shipment value.
The average price realised by Zimbabwean shipments during the period stood at US$4,187.55 per ounce (or US$147,711.45 per kg, compared to a prevailing global market benchmark average of US$4,570,46 per ounce.
Capital investment across the gold sector and elevated contributions from artisanal and small-scale miners have continued to boost export volumes.
Artisanal miners currently account for over 70 percent of total gold deliveries, backed by Government incentives, improved processing infrastructure and targeted support programmes.
Large mining firms have also increased capital expenditure in deep-level extraction and processing efficiency to capitalise on the multi-year rally in commodity prices.
Monthly export receipts maintained strong upward momentum throughout the eight months.
In January 2026, actual receipts jumped 136 percent year-on-year to US$290,08 million from US$123,11 million in January 2025.
February receipts grew 138 percent to US$278,54 million, while March recorded US$274,68 million, a 76 percent increase over the previous year.
Inflows continued to expand throughout the period, reaching US$343,97 million in April, an 88 percent increase.
The momentum was sustained in May at US$286,95 million, up 70 percent from the previous comparable period, followed by June at US$363,89 million, up 21 percent, and July at $344,83 million, up 11 percent.
