Zimbabwe gold exports jump 25% in June

Zimbabwe's gold exports soared by 24 percent in the first five months of 2025, reaching US$748 million compared to US$599.2 million during the same period in 2024, according to figures released by the Reserve Bank of Zimbabwe (RBZ). The growth underscores the crucial role of the gold sector in powering the country's economy amid rising global bullion prices.

Monthly data from the RBZ highlights consistent performance in 2025: January exports stood at US$123.1 million (up from US$112 million), February recorded US$117 million (up from US$109 million), while March surged to US$155.6 million - almost doubling the US$82.2 million recorded the previous year. April's exports also saw a significant leap to US$183.3 million, up from US$102.6 million. However, May saw a slight dip to US$168.7 million, down from US$193.5 million in May 2024.

The year-on-year increase of US$148.8 million reflects sustained momentum in Zimbabwe's gold sector, the country's top foreign currency earner. In 2024, Zimbabwe exported gold worth US$1.52 billion, a figure likely to be surpassed in 2025 if current trends hold.

Small-scale miners remain the dominant force in the country's gold production. These secondary producers - often informal and operating with limited resources - have consistently outpaced large-scale primary producers in total gold deliveries to Fidelity Gold Refinery (FGR), the country's exclusive legal gold buyer.

Government initiatives to formalise and support artisanal and small-scale mining (ASM), along with improved organisational structures and incentivised official sales channels, have bolstered production. Additionally, sustained global price increases have made gold mining more lucrative, particularly for small-scale operations.

Source: https://bulawayo24.com/