Zimbabwe mining industry to grow by 7% in 2025

Zimbabwe's mining industry is projected to grow by more than 7 percent in 2025, spurred by stellar performances in gold and coal production, according to the Chamber of Mines of Zimbabwe (CoMZ).

Latest figures show gold output surged by 35 percent in the first quarter of the year, while coal production soared by 61 percent—boosting expectations for increased mineral exports and overall economic performance.

Gold, the country's top export, is expected to dominate the sector's revenue streams, increasing its contribution to total mining exports from 25 percent last year to 40 percent in 2025. This growth is being fuelled by soaring global gold prices, which recently reached record highs of US$3,000 per ounce due to strong safe-haven demand amid geopolitical tensions.

Coal's impressive growth also signals a shift in its strategic importance within the mining mix. CoMZ chief executive officer Mr Isaac Kwesu said the performance of gold and coal in the first quarter had lifted overall sector expectations for the year.

"We anticipate the mining industry to grow by plus or minus 7 percent in 2025, which is a significant number in terms of both volume and value," said Mr Kwesu. "Gold witnessed about 35 percent growth, while coal was up 61 percent. This means coal's weight in national output has increased, and we may see it rising to double-digit levels."

Zimbabwe's total mineral revenue is forecast to reach US$6.2 billion in 2025, up from US$5.9 billion last year. The mining sector continues to be the country's biggest foreign currency earner, accounting for an estimated 90 percent of national exports.

While other minerals remained relatively subdued in the first quarter, the CoMZ projects a rebound in the second half of the year, consistent with seasonal performance trends.

Calls for Sustainability and Policy Support

Commenting on the sector's outlook, economist Mrs Gladys Shumbambiri-Mutsopotsi welcomed the growth as a sign of resilience in Zimbabwe's extractive industries.

"A 35 percent increase in gold output alongside a 61 percent surge in coal is impressive and points to stronger export earnings," she said. "But it's critical that this momentum translates into sustainable development through reinvestment in infrastructure, environmental protection and workforce development."

Mr Tinevimbo Shava, another economist, said the sector's continued growth would require supportive policies.

"Policymakers must streamline regulatory frameworks, invest in beneficiation, and develop enabling infrastructure. Revitalising underperforming minerals through targeted incentives will also be crucial to sustaining growth," he said.

Focus Turns to Annual Mining Conference in Victoria Falls

These issues will take centre stage at the upcoming 2025 Annual Mining Conference, scheduled for May 21–24 in Victoria Falls. Held under the theme "Unlocking Growth Potential for the Zimbabwe Mining Industry", the conference will bring together key stakeholders, industry experts and government officials.

The programme includes a closed-door Annual General Meeting, a Gold Symposium featuring speakers from South Africa, Ghana and Zimbabwe, and a Platinum Group Metals (PGMs) Indaba.

Day three will feature the official opening, headlined by high-profile figures including Reserve Bank Governor Dr John Mushayavanhu, Deputy Finance Minister David Mnangagwa, and ZIMRA Commissioner-General Mrs Monica Chinamasa.

Key topics to be discussed include the mining sector's contribution to economic growth, local content and empowerment, ESG (Environmental, Social and Governance) practices, financing, and energy solutions.

As Zimbabwe positions mining at the core of its economic recovery and transformation agenda, the upbeat performance in gold and coal offers hope for broader sector revival—provided that challenges are tackled and opportunities are fully leveraged.