Zimbabwe's mineral exports hit US$3.4 billion

Zimbabwe earned US$3.4 billion from mineral exports in 2025, underscoring the pivotal role of natural resources as a major foreign currency earner. According to the latest report from the Minerals Marketing Corporation of Zimbabwe (MMCZ), cumulative mineral sales for the year reached 4,890,720 metric tonnes, surpassing the budgeted 4,756,353 metric tonnes valued at US$3.2 billion. This represents positive variances of 3% in volume and 6% in value.

Compared to 2024, when 3,032,681 metric tonnes valued at US$2.9 billion were exported, the 2025 figures reflect a 61% increase in volume and 14% growth in value. MMCZ General Manager Dr. Nomusa Jane Moyo attributed the growth to a rebound in prices for key revenue-generating minerals, particularly Platinum Group Metals (PGMs), coupled with improved export processing efficiencies. She noted, however, that value growth was partly constrained by lower rough diamond sales volumes, depressed diamond prices, and stiff competition in the coke market, which required strategic pricing adjustments.

Sales of PGMs exceeded expectations in value but declined compared to 2024, with 73,506 metric tonnes generating US$306 million. The contraction in both volume and value was due to a shift towards downstream beneficiation of PGM concentrates into matte through toll-processing arrangements, resulting in reduced direct exports. Lithium sales performed strongly, reaching 1,522,894 metric tonnes and generating US$571.6 million, exceeding both volume and revenue targets. In contrast, pollucite sales declined sharply in volume to 2,311 metric tonnes, although revenue of US$6.18 million exceeded projections by 55%.

Combined ferro-alloy sales, including high carbon ferrochrome, medium carbon ferrochrome, and ferro-silicon chrome, reached 433,293 metric tonnes and generated US$372 million, marking a 19% increase in volume and 11% increase in value compared to 2024. Chrome concentrates saw marginal growth in export volumes to 886,752 metric tonnes, generating US$150 million, though revenue declined by 12% due to lower market prices. Steel exports surged, with 146,314 metric tonnes sold for US$92.1 million, a 450% increase in value from the previous year.

Looking ahead, MMCZ projects mineral revenues of US$3.5 billion in 2026, supported by strong demand for PGMs driven by hydrogen energy, jewellery, and industrial applications. The diamond market is expected to remain mixed, with robust demand for large, high-quality stones offsetting continued pressure on smaller diamonds.

The 2025 performance underscores Zimbabwe's growing position as a global player in strategic minerals, highlighting the sector's vital contribution to foreign currency earnings and economic growth.