Zimbabwe’s gold deliveries for April 2025 surged to about 3,9 tonnes, a 62,5 percent increase from the 2,4 tonnes recorded during the same month last year, official figures show, putting the country on course to achieve its 40-tonne bullion production target for this year.
The significant growth was primarily fuelled by a more than doubling of deliveries from small-scale producers, according to Fidelity Gold Refiners, the Government’s sole gold buying agency. Gold is Zimbabwe’s single largest foreign currency earner, raking in US$1,5 billion last year.
In the first four months of 2025, primary gold producers yielded 3 653.03kg, with relatively consistent monthly output around 900kg.
Primary producers are typically larger, well-established mining companies with significant capital investment and formalised operations. Some of the major primary gold producers in Zimbabwe include Kuvimba Mining House, Caledonia Mining Corporation and Dallaglio Investments.
Small-scale producers delivered a significantly larger total of 8 696.97kg during the same period, showing more variability in monthly production, peaking in April at 2 926.11kg.
They often include artisanal miners and smaller mining entities that may operate with less capital and more rudimentary methods compared to primary producers.
Mines and Mining Development Minister Winston Chitando said on Wednesday that the sustained gold production underscored the effectiveness of the Government’s ongoing initiatives to formalise and empower the small-scale mining sector, recognising its vital role in the industry, while expressing confidence in the country’s ability to meet its 40-tonne target this year.
Minister Chitando said gold mobilisation exercises remained crucial in curbing leakages, and the focus remained on achieving the annual target of 40 tonnes by ensuring all gold is channelled through formal systems to support the Zimbabwean Gold (ZiG) and strengthen the national economy.
“However, although their consistent output forms a vital anchor for our overall gold production in the country, there is a need for their output to reflect increased capital and effort invested in this segment,” said Minister Chitando at the 2025 first quarter gold mobilisation workshop.
He highlighted the challenges of illicit activities and gold smuggling facing Zimbabwe’s mining sector, emphasising the need for strong collaboration among all stakeholders to combat these issues.
He acknowledged the hard work of miners and the effectiveness of mobilisation strategies in the initial months, reiterating the Government’s commitment to supporting small-scale producers through formalisation and engaging with primary producers for a stable environment.
“Our goal for 2025 is ambitious, and the initial figures demonstrate that it is within our reach,” he said.
“By maintaining our focus on formalisation, promoting responsible mining practices, and fostering a collaborative environment, we can further unlock the vast potential of our gold sector.”
Gold, seen as a haven asset in uncertain times, has surged 28,6 percent this year, amid geopolitical risks and strong central bank buying.
Central banks continued to add gold to their reserve, with the World Gold Council revealing that China, Poland and the Czech Republic increased their bullion reserves in April, according to reports.
Gold’s enduring significance in human history stems from its long-standing use as a store of value and a medium of exchange. Beyond its application in jewellery, gold is currently highly regarded as a safe-haven asset, attracting investment during periods of economic instability.
Its appeal also lies in its perceived role as a hedge against inflation and currency depreciation, as its value is not tied to any particular issuer or Government. – Herald Online
