Zimbabwe steel exports skyrocket 1,427%

Published: 11 hours ago

Zimbabwe's steel exports recorded a remarkable surge in the first eight months of 2025, with volumes increasing by 1,427 percent to 172,000 tonnes and the value soaring by 1,913 percent to US$50 million. The dramatic growth was largely driven by the commissioning of the Dinson Iron and Steel Company plant, a subsidiary of the Chinese conglomerate Tsingshan Holding Group, one of the world's largest stainless steel producers. The plant has played a pivotal role in boosting domestic steel production and the country's export capacity.

Despite the strong performance in steel, Zimbabwe's mining sector delivered a mixed performance overall during the period. Total mineral export volumes rose by 13 percent to 3.34 million tonnes, but export revenues declined slightly by four percent to US$2.04 billion, down from US$2.14 billion in the same period last year, according to the Minerals and Marketing Corporation of Zimbabwe (MMCZ). The MMCZ is responsible for marketing all minerals except gold and silver, which are managed by Fidelity Gold Refiners, a subsidiary of the Reserve Bank.

The decline in overall export revenue was attributed to falling global commodity prices, particularly for high-value minerals. While coal and steel emerged as standout performers, other high-value minerals experienced downturns that negatively affected overall export earnings. Coal exports, for instance, rose by 102 percent in volume and 124 percent in value, reaching US$14.43 million, reflecting its growing significance in Zimbabwe's energy and industrial sectors. Coke products also recorded healthy growth, with volumes increasing by 28 percent and value rising by 25 percent.

Zimbabwe had largely been a net importer of steel following the collapse of the Zimbabwe Iron and Steel Company in 2008, due to financial constraints and operational challenges. The commissioning of Dinson Iron and Steel has reversed this trend, positioning the country as a competitive steel exporter in the region.

The performance highlights both opportunities and challenges for Zimbabwe's mining sector. While industrial minerals like steel and coal are driving growth, the volatility of global prices for high-value minerals underscores the need for diversification and strategic investment to ensure sustainable export revenue growth.
- The Chronicle

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