News / National
Zimbabwe's mining industry set for over 7% growth
05 Jun 2025 at 10:04hrs | Views
Zimbabwe's mining sector is on track for significant growth in 2025, with projections indicating an expansion of over seven percent, fueled primarily by strong performances in gold and coal production.
The Chamber of Mines Zimbabwe (CoMZ) reported that gold output surged by 35 percent while coal production jumped by an impressive 61 percent in the first quarter of the year. This robust performance is expected to translate into revenue of US$6.2 billion, up from US$5.9 billion recorded in 2024.
Speaking ahead of the 2025 Annual Mining Conference held in Victoria Falls last month, CoMZ Chief Executive Officer Mr. Isaac Kwesu highlighted the encouraging start to the year.
"We anticipate the mining industry to grow by plus or minus seven percent in 2025, which is a significant number in terms of both volume and value," Mr. Kwesu said.
He noted that gold continues to be a major driver, with its share of national mining exports expected to increase to 40 percent from 25 percent, supported by soaring global prices that recently reached record highs of US$3,000 per ounce.
"Coal also posted remarkable growth of 61 percent, increasing its contribution to the national mining output," he added.
Economists praised the sector's resilience and the positive outlook. Mrs. Gladys Shumbambiri-Mutsopotsi said the substantial rise in gold and coal production is a clear indicator of the industry's strength.
"A 35 percent increase in gold output alongside a 61 percent surge in coal represents an achievement that will translate into stronger export earnings and economic benefits," Mrs. Shumbambiri-Mutsopotsi said.
Experts also urged policymakers to build on this momentum by streamlining regulations, boosting value addition, and investing in critical infrastructure.
"To capitalise on this momentum, policymakers must streamline regulatory frameworks, enhance value addition through beneficiation, and invest in infrastructure to support projects," economist Mr. Tinevimbo Shava advised.
The Annual Mining Conference, held from May 21 to 24, served as a key forum for industry players and government officials to discuss pressing issues and strategic priorities. The event featured notable speakers including Reserve Bank Governor Dr. John Mushayavanhu, Deputy Minister of Economic Development and Investment Promotion David Mnangagwa, and Zimbabwe Revenue Authority Commissioner-General Mrs. Monica Chinamasa.
Discussion topics covered the sector's economic contribution, local content development, energy solutions, and environmental sustainability.
With strong performances in gold and coal underpinning the outlook, the conference reflected widespread optimism about Zimbabwe's mining sector.
As Mr. Kwesu concluded, "The overall growth outlook remains positive."
The Chamber of Mines Zimbabwe (CoMZ) reported that gold output surged by 35 percent while coal production jumped by an impressive 61 percent in the first quarter of the year. This robust performance is expected to translate into revenue of US$6.2 billion, up from US$5.9 billion recorded in 2024.
Speaking ahead of the 2025 Annual Mining Conference held in Victoria Falls last month, CoMZ Chief Executive Officer Mr. Isaac Kwesu highlighted the encouraging start to the year.
"We anticipate the mining industry to grow by plus or minus seven percent in 2025, which is a significant number in terms of both volume and value," Mr. Kwesu said.
He noted that gold continues to be a major driver, with its share of national mining exports expected to increase to 40 percent from 25 percent, supported by soaring global prices that recently reached record highs of US$3,000 per ounce.
"Coal also posted remarkable growth of 61 percent, increasing its contribution to the national mining output," he added.
Economists praised the sector's resilience and the positive outlook. Mrs. Gladys Shumbambiri-Mutsopotsi said the substantial rise in gold and coal production is a clear indicator of the industry's strength.
"A 35 percent increase in gold output alongside a 61 percent surge in coal represents an achievement that will translate into stronger export earnings and economic benefits," Mrs. Shumbambiri-Mutsopotsi said.
Experts also urged policymakers to build on this momentum by streamlining regulations, boosting value addition, and investing in critical infrastructure.
"To capitalise on this momentum, policymakers must streamline regulatory frameworks, enhance value addition through beneficiation, and invest in infrastructure to support projects," economist Mr. Tinevimbo Shava advised.
The Annual Mining Conference, held from May 21 to 24, served as a key forum for industry players and government officials to discuss pressing issues and strategic priorities. The event featured notable speakers including Reserve Bank Governor Dr. John Mushayavanhu, Deputy Minister of Economic Development and Investment Promotion David Mnangagwa, and Zimbabwe Revenue Authority Commissioner-General Mrs. Monica Chinamasa.
Discussion topics covered the sector's economic contribution, local content development, energy solutions, and environmental sustainability.
With strong performances in gold and coal underpinning the outlook, the conference reflected widespread optimism about Zimbabwe's mining sector.
As Mr. Kwesu concluded, "The overall growth outlook remains positive."
Source - the chronicle
