ZIMBABWE’S gold sector recorded a major upswing this year, with export earnings rising by 88,9% to US$3,76 billion in 2025, up from US$1,99 billion last year, according to a report by the Zimbabwe Economic Review.
In its latest sector update, the Zimbabwe Economic Review reported that October posted the highest monthly earnings on record at US$551,6 million, representing 14,67% of total receipts for the first 10 months of the year.
“October’s figures reflect intensified deliveries and improved traceability in the sector,” the publication stated.
The report further highlighted the dominant role of artisanal and small-scale miners, who contributed more than 75% of national output.
“The structure of production remains heavily tilted toward small-scale operations, whose contribution continues to grow despite constraints in financing and mechanisation,” the Zimbabwe Economic Review said.
Gold deliveries between January and September reached 32,98 tonnes, marking a 37% increase from 24,2 tonnes recorded during the same period in 2024.
According to the publication, small-scale miners delivered 24,5 tonnes of that output, up from 14,6 tonnes last year.
In contrast, large-scale producers delivered 8,54 tonnes, down from 9,55 tonnes over the same period.
“The divergence in output trends between the two categories highlights the resilience of small-scale miners and the operational headwinds confronting large operators,” the review noted.
With the national production target for 2025 set at 40 tonnes, the report said the country is “on course to surpass or closely match the annual target if current delivery momentum is sustained”.
Sector analysts quoted in the update attributed the positive trajectory to enhanced monitoring systems, improved incentives for formal deliveries and a gradual reduction in parallel market leakages.
The publication warned, however, that sustaining the current growth path will require continued investments in equipment, exploration and environmental management, particularly within small-scale mining communities.
Despite these concerns, the review concluded that “the gold sector remains the most reliable contributor to foreign currency inflows, and 2025 is shaping up to be a defining year for its recovery.” -newsda
