Zimbabwe mineral sales near $1 billion

Published: 19 May 2026

Zimbabwe's mining sector recorded a strong performance in the first quarter of 2026, with total mineral sales approaching the US$1 billion mark following the government's ban on the export of unbeneficiated minerals.

The policy, introduced on February 25, has accelerated domestic beneficiation and value addition, significantly reshaping the country's export profile and boosting earnings from processed and semi-processed minerals.

According to figures released by the Minerals Marketing Corporation of Zimbabwe (MMCZ), total mineral sales reached 1,288,761 tonnes valued at US$983.85 million during the first quarter. The figures represent a 27% increase in sales volumes and a 79% rise in export value compared to the same period last year.

Lithium emerged as one of the top-performing minerals amid growing global demand for battery materials. Zimbabwe sold 240,826 tonnes of lithium worth US$178.64 million, marking a 2% increase in volume and a sharp 106% surge in value year-on-year.

The government's export-ban policy has strengthened Zimbabwe's strategic position within the global battery minerals market, particularly as a key supplier to China.

MMCZ general manager Nomusa Moyo said the policy had enhanced Zimbabwe's influence within the global battery supply chain by encouraging local processing.

"Government's ban on lithium concentrates exports, while producing short-term disruption to global spot supplies, has solidified Zimbabwe's strategic influence over the global battery supply chain through domestic processing," she said.

"As a supplier of approximately 15 percent of the spodumene imported into China, Zimbabwe is a critical and vertically integrated partner for the world's leading battery manufacturers."

Platinum Group Metals (PGMs) also contributed significantly to export growth, generating US$543.97 million in earnings during the quarter. Increased concentrate sales volumes and firmer international prices offset declines recorded in matte exports.

Other mineral categories, including steel products, coal and coke, also registered notable gains as regional demand improved and local producers expanded value-added exports.

Despite the overall positive performance, Zimbabwe's diamond sector continued to face challenges stemming from weak global prices and increased competition from synthetic diamonds.

MMCZ said prospects for the second quarter remain uncertain, with geopolitical tensions and disruptions in global energy markets expected to continue influencing commodity prices, particularly for critical minerals used in industrial and defence supply chains.
- Business Insider

Tags: Minerals,