Staff Reporter
Zimbabwe’s gold mining industry is expected to register record earnings in 2025, with revenues forecast to exceed US$3 billion, according to the latest Commodity Outlook report from the Chamber of Mines of Zimbabwe. The projection marks a significant jump from 2024’s earnings, buoyed by increased production and sustained high global gold prices.
The Chamber projects national gold output to rise to 42 tonnes in 2025, up from 38.5 tonnes in 2024.
Chamber of Mines Chief Executive Officer Isaac Kwesu said that the anticipated growth stems from ongoing expansion projects across several large-scale mining operations, as well as sustained contributions from artisanal and small-scale miners.
“The gold sector is on a strong growth trajectory. We are seeing investments in capacity expansion beginning to pay off, and this is complemented by favourable international prices which have remained above US$2,000 per ounce for much of the year,” he said
According to the report, large-scale producers are expected to account for nearly 60 percent of total output in 2025, with small-scale operations supplying the balance. Government incentives for formalisation and improved access to finance for small miners have also contributed to rising output from the informal sector.
The Chamber highlighted that high operating costs and power shortages remain challenges for the sector, but said most companies had secured alternative energy sources and were improving efficiency.
“Despite structural constraints, the sector remains resilient. expect gold to continue anchoring mineral exports and contributing significantly to national revenues,” Kwesu said
Gold is Zimbabwe’s largest foreign currency earner, and the forecasted US$3 billion in revenues will further cement its role in the economy. The sector also employs hundreds of thousands directly and indirectly, making it a key driver of rural livelihoods.
In an interview with this publication, Economist Persistence Gwanyanya noted that the projected earnings would have positive ripple effects on the broader economy.
“The foreign currency inflows from gold exports help stabilise the exchange rate and support import cover. If well managed, this growth could have transformative effects,” he said.
Zimbabwe’s mining industry is a cornerstone of its economic recovery strategy. With global prices expected to remain strong amid geopolitical uncertainty, the country’s gold sector appears well-positioned to leverage the favourable conditions and deliver robust performance in the coming year.
