Zimbabwe’s gold mining sector delivered a historic and record-shattering performance in 2025, officially surpassing the national 40-tonne target a month early and posting a 46.9% year-on-year surge in artisanal and small-scale mining (ASM) deliveries. The ASM sector alone produced 34,875.10 kg for the year, a figure that comes remarkably close to the entire industry’s 2024 total of 36,486.75 kg. The growth propelled national annual deliveries to a new high of 46,729.06 kg, a 28.1% increase from the previous year, Mining Zimbabwe can report.
By Rudairo Mapuranga
Preliminary December figures, released after the target was already met in November, solidified this spectacular year. Total deliveries to the country’s sole gold buyer and exporter, Fidelity Gold Refinery (FGR), for the month reached 4,941.72 kg, a significant 16.7% increase from November 2025 and an 18.7% rise compared to December 2024.
The ASM sector remained the dominant engine of growth. In December 2025, ASM deliveries reached 3,881.69 kg, representing a notable 20.0% increase from November and a 24.1% rise from December 2024. This monthly strength capped an extraordinary annual performance, where the sector’s 46.9% growth was the key driver in exceeding the government’s flagship 40-tonne goal, which was achieved by the end of November with 41,787.34 kg.
“The consistent month-on-month strength points to a transformed and formalising sector,” said an industry analyst, echoing sentiments from a previous Mining Zimbabwe exclusive. The success has been attributed to Fidelity Gold Refinery’s competitive pricing and improved support for small-scale miners.
The large-scale mining sector presented a more tempered picture. In December 2025, it delivered 1,060.03 kg, a 6.0% increase from November and a 2.5% rise year-on-year. However, the full-year tally for large-scale operations was 11,853.96 kg, reflecting a 7.0% decrease from 2024.
With the 40-tonne target secured ahead of schedule, the focus in the final month shifted to the scale of the surplus. The final 2025 total of 46.7 tonnes not only validates the confident forecasts made by industry leaders such as ZMF President Henrietta Rushwaya but also sets a formidable new benchmark for the nation’s most critical foreign currency earner, bolstering macroeconomic stability and marking a new chapter of productivity for Zimbabwe’s economy.
