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Gold industry

Zimbabwe's Gold Sector Sees Significant Growth Amid Industry Challenges

Strategic Insights

— 2 min read

Zimbabwe's gold sector has demonstrated remarkable resilience and growth, despite facing several challenges. The country's gold production has been on an upward trend, with deliveries reaching an all-time high in 2024, achieving a record of 36.4 tonnes. The growth can be attributed to strategic initiatives implemented by the Government and industry stakeholders, including new mining initiatives, improved payments for small-scale miners, increased mining activities, prompt payments, and favourable gold prices.

Key Takeaways:

  • Gold deliveries to Fidelity Gold Refinery (FGR) increased by 27.6 percent year-on-year, reaching 3,488 kilogrammes in May 2025, surpassing the 2,734 kilogrammes recorded in May 2024.
  • The Artisanal and Small-Scale Mining (ASM) sector contributed 2,552kg in May 2025, representing a 12.77 percent decrease from April's 2,926kg, but still a robust 52 percent increase from 1,678kg delivered by small-scale miners in May 2024.
  • Large-scale miners recorded a modest 0.91 percent increase in May, delivering 936kg, up from 927kg in April 2025, but this figure reflects an 11 percent year-on-year decline from the 1,056kg delivered in May 2024.
  • The Zimbabwe Miners' Federation (ZMF) chief executive noted that the collaboration between the ZMF and the Government is yielding positive results in formalising ASM operations, enhancing sector productivity, and reducing miner arrests.
  • The Young Miners Foundation (YMF) chief executive officer attributed the surge in gold deliveries to attractive gold prices, which have incentivised small-scale miners to sell their gold to Fidelity Gold Refineries.
  • The 2025 first-quarter gold deliveries reached 8,496kg, a 40.49 percent increase from the same period in 2024, with the ASM sector contributing 5,771kg, a nearly 99 percent increase from the same period last year.
  • Zimbabwe's gold production reached an all-time high in 2024, exceeding the Government's target of 35 tonnes and surpassing the previous record of 35.3 tonnes set in 2022.

Statistics:

  • Gold deliveries to Fidelity Gold Refinery (FGR) increased by 27.6 percent year-on-year to 3,488 kilogrammes in May 2025.
  • Total gold deliveries reached 3,488 kilogrammes in May 2025, surpassing the 2,734 kilogrammes recorded in May 2024.
  • The Artisanal and Small-Scale Mining (ASM) sector contributed 2,552kg in May 2025, representing a 12.77 percent decrease from April's 2,926kg.
  • Large-scale miners recorded a 0.91 percent increase in May, delivering 936kg, up from 927kg in April 2025.
  • The 2025 first-quarter gold deliveries reached 8,496kg, a 40.49 percent increase from the same period in 2024.
  • The ASM sector contributed 5,771kg in the 2025 first quarter, a nearly 99 percent increase from the same period last year.
  • Zimbabwe's gold production reached an all-time high in 2024, achieving a record of 36.4 tonnes.

Sources:

  • Zimbabwe's Miners' Federation (ZMF)
  • Young Miners Foundation (YMF)
  • Fidelity Gold Refinery (FGR)
  • Zimbabwe's Ministry of Mines and Mining Development

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