Zimbabwe’s gold deliveries to Fidelity Gold Refinery (FGR) increased by 10.25% in the first ten months of 2026 compared with the same period last year, as October deliveries surged 17.04% month-on-month, strengthening the country’s prospects of achieving its 50-tonne annual target, Mining Zimbabwe can report.
By Rudairo Mapuranga
Latest FGR figures show that Zimbabwe delivered 41,400.7962 kilogrammes between January and October 2026, compared with 37,553.0485kg during the corresponding period in 2025, representing an additional 3,847.7477kg.
October deliveries reached 5,519.1962kg, up from 4,715.4638kg in September and 4,154.9592kg in October 2025, translating into year-on-year growth of 32.83%.
The October performance was driven primarily by artisanal and small-scale miners (ASM), whose deliveries increased to 4,273.9542kg from 3,398.3244kg in September, a 25.77% monthly increase.
Small-scale producers accounted for approximately 77.4% of total October deliveries, underlining their continued dominance in Zimbabwe’s formal gold supply chain.
Large-scale producers, meanwhile, delivered 1,245.2420kg during the month, down 5.46% from 1,317.1394kg in September, although the figure was 34.64% higher than the 924.8947kg recorded in October 2025.
Small-scale Miners Sustain Delivery Growth
The January–September figures also demonstrate the growing contribution of small-scale mining to national gold deliveries.
ASM miners supplied approximately 25,780.1kg during the first nine months of 2026, accounting for 71.8% of total deliveries, while primary producers contributed approximately 10,101.4kg.
Quarterly deliveries increased progressively from 9,311.9kg in the first quarter to 12,085.7kg in the second quarter and 14,484kg in the third quarter.
The third-quarter performance represented a 55.6% increase over the first quarter, reflecting the expansion in gold deliveries received by FGR during the period.
Small-scale deliveries rose from 6,510.9kg in the first quarter to 10,837.5kg in the third quarter, while primary-producer deliveries increased from 2,801kg to 3,646.4kg over the same period.
Zimbabwe Needs Another 8.6 Tonnes
With October’s deliveries bringing the national cumulative total to 41.4 tonnes, Zimbabwe has achieved approximately 82.8% of its 50-tonne annual gold delivery target.
The country now needs another 8,599.2kg during November and December, equivalent to an average of approximately 4,299.6kg per month.
The required monthly average is below the 4,828kg average recorded during the third quarter, suggesting that maintaining the delivery levels achieved in recent months would put the annual target within reach.
October’s 5,519.2kg intake also provides a positive indication of the volumes entering the formal gold purchasing system ahead of the final two months of the year.
The increase in deliveries is particularly significant given the contribution of small-scale miners, who continue to account for the majority of gold received by FGR.
November and December deliveries will ultimately determine whether Zimbabwe achieves its 50-tonne objective, with the latest figures placing the country in a stronger position than at the end of September.
