Zimbabwe gold deliveries rise 20.7%

Zimbabwe's gold deliveries rose to 5,119.2 kilogrammes in August 2026, representing a 10.1% month-on-month increase from the 4,649.3kg recorded in July.

Figures from Fidelity Gold Refinery (FGR) also show a 20.7% year-on-year increase from the 4,242.9kg delivered in August 2025, signalling continued growth in the country's gold sector.

The increase was largely driven by small-scale miners, who delivered 3,978.4kg during the month, accounting for about 77.7% of total national deliveries.

Small-scale gold deliveries rose 14.9% from 3,460.8kg in July and were 22.4% higher than the 3,249.9kg recorded in August 2025.

Large-scale producers, meanwhile, delivered 1,140.7kg in August, down 4% from the 1,188.6kg recorded in July. However, the figure represented a 14.9% increase from the 993kg delivered in August last year.

The latest figures further highlight the dominance of the artisanal and small-scale mining sector, which has become a major contributor to Zimbabwe's gold output.

The Government has been pushing formalisation of the sector, with efforts aimed at improving traceability and integrating small-scale producers into the formal gold marketing system.

The Zimbabwe Miners Federation has set a target of 45 tonnes of gold from the small-scale mining sector in 2026, making the sector's performance a key factor in determining whether Zimbabwe achieves its national production target.

Cumulative gold deliveries for the first eight months of the year have reached about 31.2 tonnes, putting Zimbabwe more than halfway towards its 55-tonne annual target.

At the August production rate, annualised output would be about 61.4 tonnes. However, the country needs to maintain strong monthly deliveries during the remaining four months to reach or surpass the 55-tonne target.

Zimbabwe requires approximately 23.8 tonnes between September and December, translating to an average of about six tonnes per month.

Meanwhile, developments in the large-scale mining sector are expected to provide additional production growth, with projects such as Caledonia Mining's Bilboes development and Namib Minerals' Redwing restart progressing towards increased output.

The August performance therefore provides a strong boost to Zimbabwe's gold sector, although sustained production from both small-scale and large-scale miners will be critical if the country is to meet its annual target.