Yesha
Senior Member
- Jan 28, 2026
- 163
- 91
Zimbabwe generated US$9.93 billion from mineral sales and gold deliveries between January and September 2026, nearly double the approximately US$5 billion recorded during the same period last year, highlighting the growing importance of mining to the country’s economy.
The increase was driven by strong earnings from gold, lithium and platinum group metals (PGMs), alongside rising international mineral prices.
Figures from the Ministry of Mines and Mining Development show that mineral sales excluding gold reached US$4.74 billion by September 30, while gold delivered to Fidelity Gold Refinery was valued at approximately US$5.2 billion.
The performance comes as Zimbabwe pushes mining companies to process more of the country’s minerals locally instead of exporting them in less-processed forms.
Mines and Mining Development Minister Dr Polite Kambamura said the government was targeting more than US$11 billion in mineral export revenue this year.
He attributed the increase to international commodity prices and government policies promoting local processing and beneficiation.
“Miners should make sure that all mineral production is well accounted for, from the mine gate to market,” Kambamura said, adding that authorities were introducing measures to curb mineral leakages.
Small-scale miners delivered 25,780kg, accounting for approximately 72 percent of total gold deliveries, while primary producers supplied 10,101kg.
Gold earnings rose from US$1.46 billion in the first quarter to US$1.74 billion in the second quarter and US$1.99 billion in the third quarter.
Lithium was the biggest contributor to mineral sales excluding gold, generating US$2.16 billion.
Spodumene concentrate accounted for US$1.81 billion, while lithium sulphate generated US$190.5 million and petalite earned US$155.3 million.
Platinum group metals generated US$1.73 billion, while other mineral exports included ferrochrome, steel, coke, chrome concentrates and diamonds.
The figures reflect the importance of minerals used in electric vehicle batteries, electronics, industrial production and other global supply chains to African economies seeking to benefit from demand for natural resources.
The policy aims to move the country beyond exporting raw materials and towards producing higher-value products that can generate more revenue, investment and industrial activity.
Prospect Lithium Zimbabwe has invested US$400 million in its Goromonzi facility in Mashonaland East and reportedly processed and exported lithium sulphate in April 2026.
Bikita Minerals in Masvingo Province is also advancing plans for lithium sulphate production following reported funding of US$500 million for a processing project.
For Zimbabwe and other African mineral-producing countries, the central question is how much economic value remains within national borders after extraction. Expanding local processing could create opportunities for industrial development, although the benefits will depend on investment costs, energy supply, infrastructure, skills and international market conditions.
He pointed to firming prices for gold, platinum group metals and lithium, alongside expanding mining projects, as reasons for confidence in the target.
Economist Professor Gift Mugano also said Zimbabwe was on course to exceed its mineral earnings target, citing the growth in lithium-related exports.
Mugano further projected that total foreign currency receipts could exceed US$20 billion by the end of 2026. He said receipts had reached US$15.9 billion by the end of September.
However, higher mineral revenue does not automatically translate into improved living standards. The wider economic impact will depend on how effectively the country manages mineral earnings, limits revenue leakages, attracts investment and converts resource wealth into jobs, infrastructure and productive industries.
Zimbabwe’s latest figures highlight both the opportunities and the challenges facing African resource-rich economies: earning more from minerals while ensuring that a greater share of the benefits reaches local industries and citizens.
Source: The Herald
The increase was driven by strong earnings from gold, lithium and platinum group metals (PGMs), alongside rising international mineral prices.
Figures from the Ministry of Mines and Mining Development show that mineral sales excluding gold reached US$4.74 billion by September 30, while gold delivered to Fidelity Gold Refinery was valued at approximately US$5.2 billion.
The performance comes as Zimbabwe pushes mining companies to process more of the country’s minerals locally instead of exporting them in less-processed forms.
Mines and Mining Development Minister Dr Polite Kambamura said the government was targeting more than US$11 billion in mineral export revenue this year.
He attributed the increase to international commodity prices and government policies promoting local processing and beneficiation.
“Miners should make sure that all mineral production is well accounted for, from the mine gate to market,” Kambamura said, adding that authorities were introducing measures to curb mineral leakages.
Gold and lithium drive earnings
Gold remained a major source of foreign currency for Zimbabwe, with Fidelity Gold Refinery purchasing 35.88 tonnes during the first nine months of the year.Small-scale miners delivered 25,780kg, accounting for approximately 72 percent of total gold deliveries, while primary producers supplied 10,101kg.
Gold earnings rose from US$1.46 billion in the first quarter to US$1.74 billion in the second quarter and US$1.99 billion in the third quarter.
Lithium was the biggest contributor to mineral sales excluding gold, generating US$2.16 billion.
Spodumene concentrate accounted for US$1.81 billion, while lithium sulphate generated US$190.5 million and petalite earned US$155.3 million.
Platinum group metals generated US$1.73 billion, while other mineral exports included ferrochrome, steel, coke, chrome concentrates and diamonds.
The figures reflect the importance of minerals used in electric vehicle batteries, electronics, industrial production and other global supply chains to African economies seeking to benefit from demand for natural resources.
Zimbabwe pushes for local processing
Zimbabwe has given lithium producers until January 2027 to establish lithium sulphate processing plants as part of its drive to increase the value of minerals processed within the country.The policy aims to move the country beyond exporting raw materials and towards producing higher-value products that can generate more revenue, investment and industrial activity.
Prospect Lithium Zimbabwe has invested US$400 million in its Goromonzi facility in Mashonaland East and reportedly processed and exported lithium sulphate in April 2026.
Bikita Minerals in Masvingo Province is also advancing plans for lithium sulphate production following reported funding of US$500 million for a processing project.
For Zimbabwe and other African mineral-producing countries, the central question is how much economic value remains within national borders after extraction. Expanding local processing could create opportunities for industrial development, although the benefits will depend on investment costs, energy supply, infrastructure, skills and international market conditions.
Mining industry targets more than US$10 billion
Chamber of Mines of Zimbabwe chief executive officer Isaac Kwesu said the industry was targeting annual mineral revenue exceeding US$10 billion.He pointed to firming prices for gold, platinum group metals and lithium, alongside expanding mining projects, as reasons for confidence in the target.
Economist Professor Gift Mugano also said Zimbabwe was on course to exceed its mineral earnings target, citing the growth in lithium-related exports.
Mugano further projected that total foreign currency receipts could exceed US$20 billion by the end of 2026. He said receipts had reached US$15.9 billion by the end of September.
However, higher mineral revenue does not automatically translate into improved living standards. The wider economic impact will depend on how effectively the country manages mineral earnings, limits revenue leakages, attracts investment and converts resource wealth into jobs, infrastructure and productive industries.
Zimbabwe’s latest figures highlight both the opportunities and the challenges facing African resource-rich economies: earning more from minerals while ensuring that a greater share of the benefits reaches local industries and citizens.
Source: The Herald
