Small-scale miners lead Zimbabwe's gold deliveries

Published: 4 hours ago

Small-scale miners have emerged as the driving force behind Zimbabwe's gold output in the first half of 2025, delivering the bulk of the 24.32 tonnes processed during this period.

According to data from Fidelity Gold Refinery (FGR), small-scale and artisanal miners contributed 17.76 tonnes, while large-scale producers accounted for 6.55 tonnes, underscoring the growing role of artisanal mining in the country's economy.

Once banned, artisanal mining has evolved into a key component of economic development, providing livelihoods for thousands and making up a substantial portion of Zimbabwe's gold supply.

Gold deliveries have steadily increased throughout the year. Between January and March, a total of 20.10 tonnes were delivered, with small-scale miners contributing 14.56 tonnes compared to 5.54 tonnes from large-scale producers.

July recorded the year's highest monthly intake, with small-scale miners delivering 3.20 tonnes of the 4.21 tonnes processed, while large-scale producers contributed 1.01 tonnes.

The surge in output has been driven by robust global demand for gold. Prices reached an average of US$2,862.56 per ounce in the first quarter and recently surpassed US$3,400 per ounce, peaking at US$3,418.14. Softer-than-expected US labour data and expectations of policy easing have further fueled demand.

Global uncertainties, including trade tensions under US tariffs, have reinforced gold's status as a safe-haven investment, incentivising miners worldwide and boosting Zimbabwe's production.

Zimbabwe's reliance on small-scale miners highlights the sector's critical contribution to the economy, even as policymakers continue to navigate regulatory and sustainability challenges.
- newzimbabwe

Tags: Gold,