News / National
Zimbabwe gold deliveries surge 26% year-on-year
09 Jun 2025 at 12:38hrs | Views
Zimbabwe's gold mining sector continues to demonstrate strong performance, with gold deliveries to Fidelity Gold Refinery (FGR) rising by 27.6 percent year-on-year in May 2025. A total of 3 488 kilogrammes were delivered, surpassing the 2 734 kilogrammes recorded in May 2024.
Despite the impressive annual growth, there was a 9.48 percent decline in deliveries compared to April 2025, when the country recorded 3 854 kilogrammes. The artisanal and small-scale mining (ASM) sector remains the backbone of the gold industry, contributing 2 552 kilogrammes in May. However, this marked a 12.77 percent drop from the 2 926 kilogrammes delivered in April, attributed to rising operational costs and unreliable electricity supply.
Large-scale producers recorded a slight increase in output, delivering 936 kilogrammes in May, up from 927 kilogrammes in April. On a year-on-year basis, however, this represented an 11 percent decline from the 1 056 kilogrammes delivered in May 2024, reflecting continued challenges with high production costs and limited capital investment.
Zimbabwe Miners' Federation (ZMF) chief executive officer, Mr Wellington Takavarasha, said the collaboration between the federation and government is bearing fruit, particularly in formalising ASM operations. He noted that this approach has not only improved productivity but also reduced the number of arrests, as authorities gain a better understanding of the sector. He added that Fidelity's spot payment system has significantly boosted production by providing miners with timely payments.
Young Miners Foundation (YMF) chief executive officer, Mr Payne Kupfuwa, also commented on the trend, stating that attractive gold prices have played a key role in encouraging miners to sell their gold through official channels. He noted that the favourable and stable pricing environment has boosted confidence and output among small-scale and young miners.
During the first quarter of 2025, Zimbabwe recorded gold deliveries totalling 8 496 kilogrammes, marking a 40.49 percent increase from the same period in 2024. The ASM sector alone contributed 5 771 kilogrammes, a near 99 percent jump compared to the previous year's figures.
In 2024, Zimbabwe achieved a record-breaking 36.4 tonnes in gold production, exceeding the government's target of 35 tonnes and surpassing the previous all-time high of 35.3 tonnes set in 2022. This growth was driven by a combination of new mining initiatives, the establishment of additional gold buying centres, the rollout of the Gold Development Initiatives Fund (GDIF), mobile buying units, and improvements in payment systems, particularly for small-scale producers who now receive full payment in United States dollars.
The expansion of the gold sector has not only revitalised mining but has also positively impacted Zimbabwe's economy by increasing export earnings. The sector's strong performance underscores its critical role in driving national economic transformation. With consistent investment, reliable electricity supply, and stable foreign currency policies, Zimbabwe's gold industry has the potential to exceed historical output records and further entrench itself as a key pillar of economic development.
Despite the impressive annual growth, there was a 9.48 percent decline in deliveries compared to April 2025, when the country recorded 3 854 kilogrammes. The artisanal and small-scale mining (ASM) sector remains the backbone of the gold industry, contributing 2 552 kilogrammes in May. However, this marked a 12.77 percent drop from the 2 926 kilogrammes delivered in April, attributed to rising operational costs and unreliable electricity supply.
Large-scale producers recorded a slight increase in output, delivering 936 kilogrammes in May, up from 927 kilogrammes in April. On a year-on-year basis, however, this represented an 11 percent decline from the 1 056 kilogrammes delivered in May 2024, reflecting continued challenges with high production costs and limited capital investment.
Zimbabwe Miners' Federation (ZMF) chief executive officer, Mr Wellington Takavarasha, said the collaboration between the federation and government is bearing fruit, particularly in formalising ASM operations. He noted that this approach has not only improved productivity but also reduced the number of arrests, as authorities gain a better understanding of the sector. He added that Fidelity's spot payment system has significantly boosted production by providing miners with timely payments.
During the first quarter of 2025, Zimbabwe recorded gold deliveries totalling 8 496 kilogrammes, marking a 40.49 percent increase from the same period in 2024. The ASM sector alone contributed 5 771 kilogrammes, a near 99 percent jump compared to the previous year's figures.
In 2024, Zimbabwe achieved a record-breaking 36.4 tonnes in gold production, exceeding the government's target of 35 tonnes and surpassing the previous all-time high of 35.3 tonnes set in 2022. This growth was driven by a combination of new mining initiatives, the establishment of additional gold buying centres, the rollout of the Gold Development Initiatives Fund (GDIF), mobile buying units, and improvements in payment systems, particularly for small-scale producers who now receive full payment in United States dollars.
The expansion of the gold sector has not only revitalised mining but has also positively impacted Zimbabwe's economy by increasing export earnings. The sector's strong performance underscores its critical role in driving national economic transformation. With consistent investment, reliable electricity supply, and stable foreign currency policies, Zimbabwe's gold industry has the potential to exceed historical output records and further entrench itself as a key pillar of economic development.
Source - The Chronicle
