Staff Reporter
Zimbabwe’s gold exports reached US$748.3 millionbetween January and May 2025, a sharp increase from US$599 million during the same period last year, according to a report released yesterday by the Zimbabwe Miners Federation (ZMF).
The surge is being driven by record global gold prices, which recently exceeded US$3,000 per ounce, and an exceptional contribution from artisanal and small-scale miners (ASM).
ZMF report stated: “Small-scale miners now account for close to 70 percent of national gold output, confirming their central role in driving sector growth.”
The report also noted that despite a minor decline in deliveries in May, year-on-year gold production rose by 27.6%, with ASM deliveries growing by 52%compared to the same month in 2024. ZMF projects total gold output could reach 52 tonnes in 2025—well above the Government’s official target of 40 tonnes.
“The strong performance of the sector in the first half of the year signals the potential to reach 100 tonnes per annum within the next decade, provided the right policy environment and investment frameworks are implemented,” reads the report.
In light of this performance, the ZMF is calling on the Government to adopt tailored input support schemes for artisanal miners, akin to those used in agriculture. The report urges authorities to “channel targeted investment exceeding US$1 billion into formalisation, skills development, processing centres, and equipment financing.”
It also cautions against unregulated foreign investment in local claims, stating: “There is an urgent need for tighter regulation of foreign-held mining titles to protect community rights and ensure value retention within Zimbabwe.”
ZMF President Henrietta Rushwaya said the sector’s growth was promising, but warned that themomentum could be lost without institutional backing.
“Zimbabwe has the potential to build a world-class gold economy, but this must be anchored on formalising the small-scale sector, investing in infrastructure, and protecting indigenous mining interests,” she said.
The mining sector is already proving to be the country’s top foreign currency earner; prompting theZMF to call for continued and sustained support forthe ASM who are a critical component to Zimbabwe’s long-term economic revival.
