Zimplats Holdings Ltd. saw its gold output collapse by 57% in the three months through March, the sharpest decline among a suite of platinum group metals, as a prolonged smelter maintenance shutdown reduced final metal production to less than half of year-ago levels, Mining Zimbabwe can report.
By Rudairo Mapuranga
Gold production fell to 3,863 ounces in the March quarter, equivalent to roughly 109.5 kilograms, from 9,049 ounces in the December quarter, according to the company’s latest production report. Compared with the same period last year, gold output dropped by 48% from 7,368 ounces, or 209 kilograms.
The decline was mirrored across all six platinum group elements tracked by the Zimbabwean miner. Total 6E production, comprising platinum, palladium, gold, rhodium, ruthenium, and iridium, tumbled by 56% quarter-on-quarter to 76,340 ounces, or about 2,164 kilograms, down from 174,229 ounces in the prior quarter and 139,506 ounces a year earlier.
Platinum output fell to 35,525 ounces, or 1,007 kilograms, a 56% drop from the December quarter’s 80,463 ounces and 45% below the 65,163 ounces produced in the March quarter of 2025. Palladium followed the same trajectory, sliding 56% to 29,694 ounces (842 kilograms) from 67,934 ounces, and 45% lower than 53,943 ounces a year ago.
Rhodium production was 3,215 ounces (91 kilograms), down 56% sequentially and 44% year-on-year, while ruthenium fell by 57% to 2,748 ounces (78 kilograms) and iridium dropped by 56% to 1,295 ounces (37 kilograms). Silver suffered the steepest decline among by-products, falling by 65% from the prior quarter to 6,485 ounces (184 kilograms), while nickel tumbled by 61% to 684 tonnes, copper fell by 58% to 559 tonnes, and cobalt slumped by 76% to just 4 tonnes.
The production route was triggered by maintenance on the smelter carried out in February 2026, which halted matte tapping until March. Zimplats said accumulated concentrate stocks of about 63,000 ounces of 6E remain to be processed and are expected to be turned into final metal by the end of fiscal 2026.
Mining operations showed mixed results. Ore mined totalled 2.094 million tonnes, down 1% from the previous quarter due to two fewer operating days but up 17% year-on-year, helped by higher open-pit volumes and improved underground fleet performance. The 6E head grade edged lower to 3.28 grams per tonne from 3.29 grams in the December quarter and 3.36 grams a year earlier, reflecting higher throughput of open-pit ore and internal dilution during re-establishment across geological structures.
Processing volumes also took a hit. Ore milled fell by 6% quarter-on-quarter to 1.926 million tonnes following mill rise shutdowns at all concentrators, though improved ore generation underpinned a 15% year-on-year increase in milled throughput. Concentrator recoveries remained stable at 78.5%, nearly unchanged from both the prior quarter and the same period last year. As a result, 6E metal in concentrate production declined by 6% sequentially to 159,379 ounces, though that was still 18% higher than a year earlier.
The smelter outage meant that, despite higher concentrate output year-on-year, final metal deliveries collapsed, leaving the company with a large inventory buildup.
Zimbabwe’s electricity import bill is rapidly approaching the US$1 billion mark, underscoring the scale of the country’s energy deficit and the growing pressure it is placing on the mining industry, which depends on a stable power supply to sustain production, Mining Zimbabwe reports.
By Ryan Chigoche
Latest data shows that between January 2021 and March 2026, the country spent US$881.7 million on imported electricity, highlighting an increasing reliance on regional power markets at a time when domestic generation continues to fall short of demand.
The figures point to a prolonged imbalance between domestic supply and demand. Output from key generation sources, including Kariba South and Hwange Thermal Power Station, has consistently fallen short, forcing authorities to supplement supply through imports from regional utilities such as Mozambique’s Hidroeléctrica de Cahora Bassa, South Africa’s Eskom, and Zambia’s ZESCO.
On average, the country has been spending about US$13.4 million per month on imported electricity over the past five years. Annual expenditures peaked at US$207.8 million in 2022 and remained elevated at US$207.7 million in 2024. In the first three months of 2026 alone, Zimbabwe imported electricity worth US$35.1 million, suggesting continued reliance on external supply.
For mining companies, which drive a significant share of export earnings, these energy challenges have tangible operational consequences. Power outages and load-shedding disrupt production schedules, while reliance on diesel-powered backup systems significantly increases costs.
The sharp rise in imports recorded in 2022, including a monthly high of US$37.4 million in October, coincided with critically low water levels at Kariba Dam. Reduced hydropower output forced the country to turn to the regional market at a time when electricity prices were also elevated due to drought conditions affecting the wider Zambezi Basin.
This period highlighted the risks associated with Zimbabwe’s reliance on hydropower. With a large portion of generation capacity tied to Kariba, fluctuations in rainfall patterns continue to have a direct impact on electricity availability and, by extension, industrial productivity.
While the commissioning of Units 7 and 8 at Hwange added around 600MW to installed capacity, actual output has been constrained by operational challenges, including coal supply issues, maintenance requirements, and broader financial pressures within the power utility.
Electricity import costs dropped to US$117 million in 2025, the lowest annual figure over the review period. However, this decline does not necessarily signal improved domestic supply. Instead, it is largely attributed to foreign currency constraints, which have limited the ability to secure imports, resulting in increased load-shedding.
For the industry, including mining, this has translated into hidden costs, lost production time, equipment strain due to unstable supply, and higher energy expenses from alternative power sources.
Zimbabwe continues to rely on imports for roughly 20% of its electricity needs. Cahora Bassa remains the primary supplier, delivering between 200MW and 400MW through the direct transmission link into the national grid, with additional support from Eskom and ZESCO.
The sustained reliance on imports reflects a structural issue within the power sector, one that has persisted across multiple years without a lasting resolution.
In response, the Mutapa Investment Fund has outlined a US$500 million energy investment plan aimed at strengthening local generation capacity. The initiative forms part of a broader funding strategy that includes commodity-backed financing and financial sector partnerships.
If successfully implemented, the investment could help ease pressure on the import bill. For example, a 300MW solar project operating under Zimbabwe’s high solar irradiation conditions could generate roughly 600 million kilowatt-hours annually, potentially substituting around US$60 million worth of electricity imports.
For the mining sector, improved energy security would have far-reaching implications, enabling stable production, lowering costs, and supporting long-term expansion.
Zimbabwe’s electricity deficit, therefore, extends beyond the power sector; it remains a key constraint on mining performance, export growth, and overall economic stability.
Gold Earns USD 426.6 Million to Anchor Zimbabwe’s March Trade Balance as Export Concentration Deepens
Zimbabwe’s external trade position in March 2026 was once again heavily anchored on gold, with semi-manufactured gold exports generating USD 426.6 million. That figure accounted for 45.8% of total goods exports of USD 932.0 million, according to Zimbabwe National Statistics Agency (ZimStat) data, reinforcing gold’s central role in stabilising the country’s trade balance, Mining Zimbabwe can report.
By Ryan Chigoche
The overall goods trade deficit stood at USD 142.8 million for the month, with imports of USD 1.074 billion outpacing exports. Within that gap, gold effectively acted as the primary buffer, cushioning an import bill dominated by fuel, cereals, and industrial machinery.
The strength of gold earnings continues to define Zimbabwe’s export structure. Alongside gold, nickel mattes contributed USD 204.1 million, or 21.9% of total exports, while tobacco accounted for 14.3%.
Together, these three commodities represented 82% of total export value, underscoring a highly concentrated export base reliant on a narrow set of globally priced commodities.
This concentration extends beyond commodities into markets. The United Arab Emirates remained the dominant destination for Zimbabwe’s exports, taking in USD 432.7 million, largely consisting of gold shipments.
South Africa followed with USD 293.8 million, while China accounted for USD 126.8 million. Combined, the three countries absorbed 92% of total exports, highlighting a narrow geographic dependence in trade flows.
Despite the strong export performance, underlying production trends in the mining sector suggest the gains are being driven more by pricing than by output growth.
Gold production has shown signs of softening since the start of 2026, indicating that export receipts are being amplified by global price movements rather than increased volumes.
Gold has remained above USD 4,000 per ounce since early 2025, meaning Zimbabwe’s export earnings are being significantly boosted by favourable international pricing rather than a substantial expansion in domestic output.
Nickel mattes, which contributed USD 204.1 million in March exports, have also experienced significant price volatility.
The metal’s recovery in 2025–26 follows a sharp downturn in 2023–24 caused by increased global supply, particularly from Indonesia. Zimbabwe’s weaker nickel earnings during that period were therefore driven by price movements rather than production changes.
Tobacco has followed a similar path, recording a 24% decline in the 2026 season to date, further highlighting the sensitivity of Zimbabwe’s export basket to global commodity pricing cycles.
Within the Southern African Development Community (SADC), exports remain heavily weighted toward industrial raw materials and semi-processed goods.
Nickel mattes accounted for 60.9% of regional exports, followed by iron or steel products at 8.1%, coke and semi-coke at 6.2%, and nickel ores at 4.8%. Gold, however, largely bypasses regional trade channels, instead flowing directly into international bullion markets via the United Arab Emirates.
This pattern reflects a structural feature of Zimbabwe’s mineral economy, where its highest-value export is integrated into global financial systems rather than regional manufacturing and beneficiation value chains, limiting downstream industrial development within SADC.
Import demand remains largely rigid. Cereals accounted for USD 83.8 million, fuel imports stood at USD 196.5 million, and machinery and electrical equipment reached USD 249.4 million. These categories reflect essential consumption and production inputs, leaving limited scope for short-term adjustment without broader economic disruption.
Overall, March 2026 trade data shows an external position that is being stabilised primarily through elevated gold prices rather than structural diversification or production-led expansion. Gold remains the central pillar of Zimbabwe’s trade balance, but its effectiveness is ultimately tied to global market conditions beyond the country’s control.
Mutapa Gold Resources-owned Bindura-based miner, Freda Rebecca, produced a record 240 kilograms of gold in March, a monthly high, according to Chief Executive Officer Patrick Maseva-Shayawabaya.
By Rudairo Mapuranga
The output marks a recovery after operational problems at Freda Rebecca and Shamva mines curtailed production in the first half of the prior period. March falls in the first quarter of Mutapa Gold’s new financial year, which now ends on December 31 after the company changed its year-end from March 31.
“We’ve started the year well,” Maseva-Shayawabaya said in an interview with Mining Zimbabwe. “Freda had a record production of 240 kg.”
Freda Rebecca accounts for about 70% of Mutapa Gold’s total output, with Shamva Gold Mine contributing 20% and Jena 10%.
For the 12 months through March 2026, a period no longer aligned with the company’s financial year, total gold production fell to 3,255 kg (104,000 ounces) from 3,600 kg (116,000 ounces) a year earlier, the CEO said. The decline was “principally because we had great problems at both Freda and Shamva for about six months.”
Jena, which has higher ore grades of 3–4 grams per tonne versus 1.4–1.6 at Freda and Shamva, is on track to exceed 40 kg this month after a US$2 million plant upgrade last year, Maseva-Shayawabaya said.
Mutapa Gold Resources is a wholly owned unit of Zimbabwe’s sovereign wealth fund, the Mutapa Investment Fund. The company plans to triple annual output to 300,000 ounces within six years through a US$200 million investment programme focused on Shamva and Jena.
Maseva-Shayawabaya became CEO on May 1, succeeding Trevor Barnard. He previously served as Chief Financial Officer of Mutapa Gold and Managing Director of Freda Rebecca.
Mining companies must shift from corporate social responsibility to genuine corporate social investment, Minister of Mines and Mining Development Dr Polite Kambamura has said, as he presided over the graduation of 300 artisanal miners trained under a Mutapa Gold Resources-funded programme, Mining Zimbabwe can report.
By Rudairo Mapuranga
Addressing a packed gathering at Magandi Park on Thursday, the Minister praised Mutapa Gold Resources for what he called “enlightened corporate citizenship in practice,” urging other mining houses to follow suit in supporting the formalisation of the artisanal and small-scale mining (ASM) sector.
“Allow me to formally thank Mutapa Gold Resources for this funding initiative. This is what enlightened corporate citizenship looks like in practice,” Kambamura said. “We need to move away from only corporate social responsibility to corporate social investment. This is a corporate investment that we are witnessing here. When these people are empowered, we have empowered our nation.”
Responsible Mining Initiative takes root
The Minister reminded the audience that the training programme, delivered in partnership with the Zimbabwe School of Mines, is deeply rooted in the government’s Responsible Mining Initiative launched in 2025.
“For too long, this sector has carried burdens no partner in development should carry alone: avoidable accidents, mercury contamination, poor mineral accountability, and exclusion from capital,” he said. “The principle of the Responsible Small-Scale Mining Programme we celebrate today was designed to close that gap.”
Under four pillars—safety, technical capability, environmental stewardship, and financial formalisation—300 miners received certificates that Kambamura described as “a passport for marriage,” indicating that his ministry takes the certification seriously as a prerequisite for formal operation.
In a major policy announcement, the Minister revealed that his ministry will soon introduce mining development officers positioned in each mining district across the country.
“Very soon, my ministry is coming up with an extended structure mirroring the tight domain of agriculture,” he said. “We are going to come up with mining development officers who will be positioned in each mining district to monitor, share expertise on mining, and also educate our miners on mining standards, mineral accountability, and other technical issues. It’s now time that we mine responsibly.”
He added that the programme witnessed in Chegutu serves as a blueprint for mobile mining schools that will be rolled out nationally across all provinces, including Mashonalands, Matabelelands, the Midlands, Manicaland, and Masvingo.
Formalisation a key pillar of Vision 2030
Kambamura underscored the strategic importance of the ASM sector, noting that it consistently delivers more than 60% of gold to Fidelity Gold Refinery and sustains hundreds of thousands of livelihoods.
“The artisanal small-scale mining sector is no longer a peripheral activity in our economy,” he said. “When we speak of the US$4 billion mining economy, when we speak of Vision 2030, and when we speak of the National Development Strategy 2 (NDS2), we are speaking of a future that cannot be built without this subsector.”
He reaffirmed the Second Republic’s commitment, under President Dr E.D. Mnangagwa, to formalising the ASM sector, calling it “a work in progress.”
Addressing the 300 graduates directly, the Minister said they were leaving with both knowledge and an obligation.
“The obligation to mine responsibly, to mine safely, avoiding substandard practices. The obligation to formalise, even when the informal path seems much easier. You are also obligated to share what you have learned with the colleague next to you, the young person in your village, and other colleagues.”
Today, we gather in Hwange and other places across the country with pride and purpose to commemorate the International Workers Day under the powerful theme: Empowering Workers – Empowering Voices.
This day is not just a celebration. It is a reminder of our shared struggle, our resilience, and our unwavering commitment to justice, dignity, and fair treatment for every worker in Zimbabwe’s mining sector and beyond.
It is historic that this year, our union holds its main Workers Day commemorations here in Hwange for the first time, Hwange is not just a place – it is a symbol of the sweat, sacrifice, and strength of mine workers who power our nation.
Today, we honour you.
We extend our appreciation to Lyeja FM for agreeing to celebrate their own achievements with mine workers today – here in Hwange. Dear partner, we congratulate you for your achievements and we look forward to continue working with you as we empower workers and empower voices.
As ZDAMWU, we believe we have entered into a strategic partnership which will serve as a vital platform for mine workers and our communities. This partnership will give our members a dedicated voice on the airwaves – ensuring that the stories, struggles, and victories of mine workers are heard in every home, compound, and community where our members live and work.
Lyeja FM as a Community Radio Station, will serve as a platform for workers’ education, health and safety awareness, legal rights information, CBA updates, and community solidarity. A worker who is informed is a worker who is protected. We commend all those whose dedication and vision made this community radio commissioning a reality and we stand together in unity and reflection with profound respect and unwavering solidarity.
Comrades, this year’s celebrations come at a pivotal moment in our union’s journey. Last year, we celebrated our hard-won inclusion in the National Employment Council (NEC) for the mining industry—a milestone achieved amid competition from numerous longstanding and emerging unions. Today, we celebrate a significant impact of our inclusion – the achievement of our new Collective Bargaining Agreement (CBA), now gazetted under SI 71 of 2026. This replaces the outdated 1990 agreement and introduces stronger worker protections across the mining industry. This is a victory born out of unity, persistence, and constructive negotiation. It is proof that when workers stand with a strong voice and engage meaningfully with employers, progress is possible.
However, let us be clear: this is not the end of the journey. It is a step forward. Through continued dialogue and partnership, much work still lies ahead to fully realise fair conditions across all mining operations.
Fellow workers, as our nation aspires to become an upper middle-income economy, the union stand firm on the issue of decent work and a living wage.
Mine workers remain central to Zimbabwe’s economic lifeblood. As the engine that powers the extraction of our nation’s mineral wealth, they are essential stakeholders whose welfare must be prioritised by both government and employers.
Mine workers must not remain poor while they generate wealth. A worker who cannot afford basic needs is a worker whose dignity has been compromised. Through our participation in the National Employment Council and dialogue with cooperating employers, we are continuing with our mission to ensure wages reflect the true cost of living.
We reiterate our call in the industry for a minimum wage of US$650:00, reflecting the dangerous nature of mining work and the soaring value of the minerals they extract every day. We believe these targets are achievable through constructive negotiation and mutual commitment to workers’ welfare.
Further, as we are pushing to achieve this basic pay, we are also looking on other areas covered in Schedule F of the CBA so as to review upwards some of the allowances as well as include transport and housing allowances to cushion our workers.
We acknowledge that this process might take long but we are confident we shall achieve.
Comrades, too many of our colleagues have not returned home from work. Too many families have been shattered by preventable accidents. Too many workers continue to suffer from occupational diseases that could have been avoided.
The union’s position is that Safety in our mines is not negotiable. It is not a luxury. It is not a cost to be minimised. It is a fundamental right of every worker who descends into the earth or operates machinery to extract the wealth of our nation. Every worker deserves to return home alive, unharmed, and healthy at the end of every shift.
We call upon company management across the mining sector to make occupational health and safety their number one priority.
Let us be clear: investing in safety is investing in productivity. A safe worker is a confident worker. A confident worker is a productive worker. When management prioritises safety, they are not just protecting lives – they are building a more efficient, sustainable, and profitable operation. This is not a zero-sum game. Everyone wins when workers go home safely.
This means:
Providing adequate and quality Personal Protective Equipment (PPE) to every worker without exception – not as a favour, but as a basic requirement
Conducting regular and thorough safety inspections with worker participation and transparency
Implementing comprehensive training programs for all workers on safety protocols, hazard identification, and emergency response
Installing and maintaining modern safety equipment, ventilation systems, and early warning mechanisms in all mining operations
Ensuring regular medical examinations and health monitoring for early detection of occupational diseases such as silicosis, tuberculosis, and hearing loss
Creating transparent reporting systems where workers can raise safety concerns without fear of victimisation
Investigating every accident thoroughly with worker representatives and implementing corrective measures immediately
We are ready to work hand-in-hand with management to develop and implement comprehensive safety programs. Worker representatives must be included in safety committees at every level. Workers know the ground reality – their voices and expertise are invaluable in identifying hazards and developing practical solutions.
Comrades, allow me to extend this message to company management across Zimbabwe’s mining sector. Progressive trade unions like ZDAMWU are your stakeholders, not your enemies. We are partners in building a thriving mining industry, not obstacles to progress.
ZDAMWU does not exist to create problems. We exist to solve them – together with you. When workers are treated fairly, respected, and safe, they are more motivated, more loyal, and more productive. When workers have a voice through their union, grievances are addressed before they escalate into costly litigation.
A strong union is a sign of a healthy workplace, not a threat. Where there is constructive engagement between management and workers’ representatives, there is stability. Where there is dialogue, there is mutual understanding. Where there is partnership, there is progress.
ZDAMWU stands ready to build constructive relationships with all mining companies. We bring to the table our commitment to productive dialogue, our understanding of industry challenges, and our expertise in worker welfare. We want to work with you to create workplaces that are safe, fair, and prosperous for all. Let us build together.
To every mine worker listening today – whether you are here in Hwange, in Zvishavane or in Mutoko, in gold mines, lithium mines or in any operation across Zimbabwe – we say: your voice matters. But your voice is stronger when it joins with others.
When you join ZDAMWU, you are not just joining a union. You are joining a family of mine workers and becoming a legacy mine worker.
We have already achieved significant victories together, we need every mine worker to join us. The stronger our membership, the stronger our voice at the negotiating table. The more united we are, the more we can achieve as a family.
To our existing members: thank you for your loyalty and your solidarity. Keep recruiting. Bring your colleagues into the fold. Every new member strengthens our voices. Every voice that joins the chorus makes our song louder and impossible to ignore. Unity is our strongest defence.
As I conclude, comrades, let me be clear, ZDAMWU is not just talking – we are acting.
Let there be no doubt: ZDAMWU is here, and ZDAMWU is delivering. We are here today, standing on the ground of Hwange – And we will continue to be here – in your mines, at the negotiating table, in forums with employers, in dialogue with regulators, and on the international stage – until every mine worker in Zimbabwe lives and works in dignity.
As your General Secretary, I reaffirm our union’s commitment to:
Defending workers’ rights through constructive engagement and dialogue,
Strengthening collective bargaining at every level with all stakeholders,
Promoting safe, healthy, and humane working conditions through partnership,
Ensuring that no worker is left behind through inclusive participation in development processes,
Building bridges between workers and management for sustainable industrial relations.
Forward with workers’ rights!
Forward with unity!
Forward with safety!
Happy Workers’ Day to you all.
Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU)
President Emmerson Mnangagwa has reassigned Mr Pfungwa Kunaka from his role as Permanent Secretary in the Ministry of Mines and Mining Development to the Ministry of Public Service, Labour and Social Welfare.
The reassignment takes effect on 1 May 2026, marking a key administrative shift within government leadership.
The development was confirmed in an official statement issued by Chief Secretary to the President and Cabinet, Martin Rushwaya.
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