Small-Scale Miners Dominate Zimbabwe's Gold Industry

The small-scale mining sector in Zimbabwe has emerged as the dominant force in the country's gold industry, with production now exceeding 75% of national output. Analysts consider this shift a key success in local economic empowerment, marking a significant transfer of wealth and control from a handful of large corporations to thousands of citizens. This transformation is similar to the tobacco sector, where production is now dominated by small-scale farmers, resulting in collective earnings of over US$1 billion during the 2024/2025 farming season.

Key Takeaways:

• Small-scale miners now contribute about 75% of Zimbabwe's gold production, signifying a significant transfer of economic power and wealth.
• The contribution of small-scale miners to Zimbabwe's gold production has increased dramatically, with latest statistics showing a 37% jump in total gold deliveries for the first nine months of 2025.
• Small-scale miners delivered 24,45t of gold through September, a 67% growth from the 14,6t produced in the corresponding period the previous year.
• Deliveries from small miners this year are more than the cumulative output for the industry in the same period in 2024.
• The Government's supportive policies, including the allowance for small-scale miners to retain 100% of their foreign currency earnings, have been key in driving growth.
• Analysts believe the upside potential of small-scale miners remains significant, but the industry is limited by the use of rudimentary methods and the need for adequate financial support to acquire modern equipment.
• The gold sector's success is generating trickle-down effects, leading to investments in diverse areas such as real estate, service stations, tourism, hospitality, and housing.
• Similar trends are being observed in the tobacco industry, where production is now dominated by small-scale farmers, resulting in collective earnings of over US$1 billion.

Statistics:

*.Total gold deliveries for the first nine months of 2025 jumped by 37% to 32,98 tonnes (t).

• Small-scale miners delivered 24,45t of gold through September, a 67% growth from the 14,6t produced in the corresponding period the previous year.
• Deliveries from small miners this year are more than the cumulative output for the industry in the same period in 2024.
• The tobacco industry has seen production increase dramatically, with small-scale farmers now responsible for over 95% of production.

Sources:

• Business Reporter Zimbabwe (author not specified)
• Zimbabwe Miners Federation
• Fidelity Gold Refinery
• Interview with Mr Shingi Maune, economic analyst
• Interview with Dr Langton Mabhanga, economic analyst