Gold deliveries to the country’s sole buyer and exporter, Fidelity Gold Refinery (FGR), increased by approximately 31.94% in January 2025 compared to the same period last year, driven by Artisanal and Small-Scale Miners (ASM), who recorded a 69.89% improvement in deliveries, offsetting a 21.66% decline in contributions from Large-Scale Miners (LSM), Mining Zimbabwe can report.
By Rudairo Mapuranga
In January 2025, total gold deliveries reached 3134.3456 kg, up from 2375.3259 kg in January 2024. ASM contributed a significant 2265.5474 kg, compared to 1333.4371 kg delivered in January 2024. Meanwhile, LSM saw a drop, delivering 868.7982 kg in January 2025, down from 1108.8156 kg the previous year. The surge in ASM output highlights the vital role small-scale miners play in driving the country’s gold production despite the challenges faced by the LSM sector.
This rise in gold deliveries builds on the strong performance of 2024, where gold deliveries to FGR increased by 26.65%, with ASM dominating the sector with a 21.41% surge. Throughout 2024, small-scale miners consistently outperformed their large-scale counterparts, contributing nearly two-thirds of the total gold delivered. By year-end, ASM had delivered 23,745.6423 kg, while LSM accounted for 12,741.1103 kg, bringing the total gold deliveries for 2024 to 36,486.7526 kg. This represents a 21.22% increase from the 30.1 tonnes delivered in 2023.
In December 2024 alone, ASM delivered 3,127.7228 kg of gold, marking a 19.57% increase from 2,615.8037 kg in November. In contrast, large-scale miners experienced a slight decline, delivering 1,034.517 kg, down 8.16% from November’s 1,126.3594 kg. The monthly fluctuations in gold deliveries reflected the volatility of the sector, but ASM’s consistent growth helped maintain overall stability.
This performance reaffirms the crucial role ASM plays in Zimbabwe’s gold production, consistently contributing the bulk of the national output. In fact, small-scale miners accounted for over 65% of total gold deliveries in 2024, demonstrating their growing importance to the country’s economy.
Despite challenges such as rising operational costs, power shortages, and unfavourable exchange rate policies, ASM has proven resilient. The sector’s ability to maintain steady output is essential for Zimbabwe’s economy, especially as large-scale mining operations face operational constraints.
Looking forward to 2025, addressing these challenges will be crucial to maintaining growth. The early indications in January suggest that ASM will continue to drive gold production, while large-scale miners must overcome their current challenges to reclaim their previous levels of contribution. A balance between the two sectors will ensure sustained growth in Zimbabwe’s mining industry, which remains a cornerstone of the national economy.
