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Gold buying prices in Zimbabwe per gram/ ounce, 23 October 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 23 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 23 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE123.653,846.84
SG 85% and above but below 90%122.343,806.08
SG 80% and above but below 85%121.033,765.34
SG 75% and above but below 80%119.733,725.04
Sample 5g and above but below 10g117.763,664.88
Fire Assay CASH124.313,866.78

 

NB: Fire Assay cash price is for gold above 100g, no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

RioZim-ZIDAMWU Battle Continues as Union Rejects US$160k Settlement to Drop Corporate Rescue Case

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RioZim-ZIDAMWU Battle Continues as Union Rejects US$160k Settlement to Drop Corporate Rescue Case

The Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) has once again rejected a US$160,000 settlement offer from RioZim Limited, arguing that it fails to address critical issues affecting employees and the long-term viability of the company, Mining Zimbabwe reports.

By Ryan Chigoche

The standoff is the latest development in a prolonged struggle between the union and RioZim, which has been facing financial and operational challenges since 2022.

In April 2025, Zidamwu lodged an application to place the listed mining company under corporate rescue, citing unpaid employee salaries, job insecurity, and the company’s inability to fund major operational projects.

The filing marked a critical escalation in the ongoing dispute between the workforce and management, highlighting concerns over the company’s ability to protect its employees while remaining viable.

RioZim, which operates gold mines at Cam & Motor (open-pit) and Renco (underground), has struggled to secure funding to support operations. A major issue arose in 2019 when the ore at its flagship Cam & Motor Mine shifted from oxide to refractory sulphide, requiring a US$35 million investment that the company could not self-finance. Repeated attempts to secure local and international funding have failed, leaving the company unable to meet obligations to employees and creditors alike.

Adding further complexity, RioZim is in advanced negotiations for a US$20 million capital injection to stabilise operations. However, this potential funding is at risk due to the ongoing corporate rescue proceedings, which have placed certain company assets under judicial management.

Faced with this challenge, through its lawyers Nyahuma Law, RioZim offered the US$160,000 settlement “without prejudice,” on the condition that Zidamwu withdraw all legal cases related to the corporate rescue and consent to the company’s appeal against a High Court ruling restricting its management of assets. The company argued that the union’s legal action had hindered recapitalisation efforts and delayed payments to employees.

“The tender is made on condition that prior to the release of the funds, you make an unequivocal undertaking to withdraw and abandon all its (court) cases relative to the placement of our client under corporate rescue. This includes consenting to the application for leave to appeal the High Court judgment in terms of which our client was interdicted from dealing with its assets,” RioZim said.

Zidamwu, however, maintains that financial compensation alone cannot resolve the underlying issues.

The union is demanding comprehensive guarantees, including full payment of outstanding salaries, protection of jobs, mechanisms to ensure RioZim’s long-term viability, and strengthened corporate governance.

“Resultantly, our client proposes that a consensual corporate rescue strategy is appropriate, with clear perimeters on duration, goals, and a plan after which management can revert to the board.

“This, we trust, gives RioZim the best chance to protect its assets against creditors’ attachment whilst affording scarce resources to be applied toward working capital,” Zidamwu responded through its lawyers, Zinyengere Rupapa.

The union insists that this approach offers RioZim the best chance to survive creditor pressure, safeguard employees, and restore operational stability.

The ongoing standoff underscores the intensity and duration of the battle between RioZim management and Zidamwu. The union has emerged as a key stakeholder, asserting that any corporate rescue process must protect employee interests while providing a credible path for the company’s recovery.

As both parties continue to navigate this challenging period, the future of RioZim and its workforce remains uncertain.

Zimbabwe Gemstones Conference & Fair Postponed to Q1 2026

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Zimbabwe Gemstones Conference & Fair Postponed to Q1 2026

The Zimbabwe School of Mines (ZSM) has announced that the inaugural Zimbabwe Gemstones Conference & Fair, which was scheduled to take place this October, has been postponed to the first quarter of 2026, with new dates to be confirmed soon.

Organised by ZSM, with Mining Zimbabwe as the official media partner, the event remains a key platform for advancing the country’s gemstone sector—an industry with growing potential to diversify Zimbabwe’s mining economy and drive value addition through cutting, polishing, and jewellery manufacturing.

Zimbabwe is richly endowed with a variety of gemstones such as emeralds, aquamarine, amethyst, tourmaline, garnet, and agate, found in areas including Mutoko, Karoi, Hurungwe, and Mberengwa. However, the sector remains largely underdeveloped, with much of the trade occurring informally and limited beneficiation taking place locally.

The Minister of Mines and Mining Development, who will be the Guest of Honour at the conference, has identified the gemstone industry as a strategic growth sector with significant potential to contribute to Zimbabwe’s economic development.

He emphasised that the sector could create employment opportunities, boost exports, and support the Government’s beneficiation agenda.

This makes the Zimbabwe Gemstones Conference & Fair an important gathering for all stakeholders—from small-scale miners and traders to investors, gem cutters, and policymakers—to explore opportunities for formalisation, value addition, and sustainable growth.

Participants are encouraged to register online to receive priority updates and early access to event information.

Exhibitors Encouraged to Book Early

Exhibition bookings remain open, and companies are urged to secure their stands early to benefit from priority stand allocation and participation in upcoming promotional activities ahead of the 2026 edition.

The next edition of the Zimbabwe Gemstones Conference & Fair is expected to offer greater engagement, stronger partnerships, and a more vibrant showcase of Zimbabwe’s potential in the global gemstone trade.

To register or book your exhibition stand, visit https://conferences.zsm.ac.zw/.

No Need to Import PPE as Mining Sector Drives Local Industrialisation – Chitando

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No Need to Import PPE as Mining Sector Drives Local Industrialisation – Chitando

The mining industry is set to undergo a profound transformation that will see all inputs, including Personal Protective Equipment (PPE), manufactured locally as the Government intensifies its value addition and beneficiation drive in line with the National Development Strategy 1 (NDS1), Mines and Mining Development Minister, Hon Winston Chitando, has said.

By Rudairo Mapuranga

Speaking at the 2025 Mine Entra Conference, Minister Chitando outlined a future where the mining sector is fully integrated, driving local manufacturing and ensuring that the nation reaps maximum benefits from its mineral resources.

“The future of mining is where we have to take orders and follow the rules and principles of responsible mining,” Minister Chitando said. “Mining in a responsible manner also involves responsible sourcing. The whole idea is to have integration, downstream and upstream — to have inputs in the mining sector manufactured locally, and to have products from the mining sector being value-added locally.”

In a powerful directive that underscores this shift, the Minister questioned the continued importation of basic mining gear, stating, “There is no need to import PPE. Is PPE being showcased in here?” This statement signals the Government’s firm expectation that the mining industry’s procurement should stimulate domestic production and create local value.

The Minister’s vision aligns with the central pillars of NDS1, which prioritises value addition and beneficiation to structurally transform the economy. He reported significant progress, highlighting that the mining industry “is growing virtually in all the various sectors,” with the drive for qualification and beneficiation gaining momentum.

“More importantly, the drive for value addition and beneficiation is beginning to have, among others, various initiatives in the lithium sector, where by early next year, we will have the production of lithium sulphate,” he announced.

This milestone in the lithium value chain represents a key achievement of the Government’s policy to move beyond the mere extraction and export of raw minerals. The establishment of a “five-mile industrial park in Mhangura” was also cited as one of the initiatives underpinning the sector’s growth.

Minister Chitando explained that this new era of responsible and integrated mining is being codified into law. He revealed that the second phase of the formalisation initiative will soon close, introducing new regulations to ensure sustainable practices.

“Phase 1 of the responsible mining initiative emphasised the need to follow the laws. Phase 2 will close very soon. It will go beyond the laws and introduce new regulations, but also ensure that everybody mines in a responsible manner,” he said.

The Minister concluded by emphasising that responsible behaviour from all stakeholders is non-negotiable for the future of the sector. “The future of mining, I will repeat — which is my last comment — will be for all players and all stakeholders in the mining sector to behave responsibly,” he said.

The address firmly positions the mining sector as a key driver of national development, moving beyond extraction to build a sustainable, integrated, and locally empowered industry in fulfilment of the Government’s economic blueprint.

Mine Ventilation Society to Push Legislative Reforms at Upcoming AGM

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Mine Ventilation Society to Push Legislative Reforms at Upcoming AGM

Zimbabwe’s outdated ventilation laws are set to come under scrutiny at the upcoming Mine Ventilation Society of Zimbabwe (MVSZ) Annual General Meeting (AGM) and Symposium, scheduled for 30 and 31 October 2025 in Bulawayo. The event will provide a key platform for reviewing and aligning the country’s mine ventilation framework with modern safety standards, Mining Zimbabwe can report.

By Ryan Chigoche

Over the years, ventilation in underground mines has proved vital for worker safety, helping remove harmful gases, dust, and other pollutants. Yet in Zimbabwe, current laws are outdated and unclear, leaving gaps in oversight and enforcement.

With the MVSZ AGM and Symposium fast approaching, Dr Tonderai Chikande, the president of the society, said the event will serve as a call to action for the review of ventilation legislation.

“Ventilation legislation is the backbone of safe mining. This year’s AGM is a call to modernise our legal framework. Current laws are outdated and don’t reflect today’s risks (e.g., diesel fleets, deep mining, ASM). Good regulation strengthens industry and protects lives. Together, through this symposium and AGM, we are laying the foundation for a mining sector that is not only productive but principled,” Chikande said.

As of now, the Mines and Minerals Act and the Mining Management and Safety Regulations (SI 109 of 1990) provide general safety guidance but fail to define responsibilities for ventilation or set modern technical standards for air quality.

Adding to that, the recent reforms under the Mines and Minerals Bill, which is intended to replace the existing Mines and Minerals Act, have failed to address key ventilation challenges.

While the bill seeks to modernise Zimbabwe’s mining legislation, it provides limited guidance on air quality management and does not clarify roles for overseeing ventilation in modern, mechanised mines. Exposure limits for dust, smoke, and gases remain outdated, leaving workers vulnerable in deeper operations.

The AGM and Symposium will provide a forum for industry stakeholders, regulators, and mining professionals to discuss practical solutions.

Discussions will focus on clarifying responsibilities, updating technical standards, and integrating modern technologies to improve air quality underground. Regional lessons, particularly from South Africa—where ventilation standards are regularly updated—will inform the debate.

By combining legislative review with operational best practices, the MVSZ aims to guide Zimbabwe’s mining sector toward safer, smarter, and more sustainable operations. Attendees will explore ways to protect workers, enhance productivity, and build a culture of excellence in ventilation management.

Meanwhile, this year’s event will run under the theme “Optimising Ventilation Systems for Operational Excellence.”

Gold Prices Fall at an average of US$3.7 per gram

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Gold Prices Fall at an average of US$3.7 per gram

International Gold prices have taken a noticeable dip today, with Fidelity Gold Refinery (FGR) reporting lower prices across all purity categories compared to yesterday. The decline reflects a cooling in the bullion market after a period of strong gains, as global investors reassess positions amid shifting economic signals.

Yesterday, top-grade gold (SG 90% and above) was trading at US$130.47 per gram (US$4,060.22/oz). Today, it has fallen to US$126.68 per gram (US$3,938.69/oz) — a sharp decline of US$3.79 per gram.

The downward movement was consistent across all categories:

CategoryYesterday ($/g)Today ($/g)Change ($/g)
SG 90% and ABOVE130.47126.68-3.79
SG 85%–89.9%129.09125.34-3.75
SG 80%–84.9%127.71124.00-3.71
SG 75%–79.9%126.33122.66-3.67
Sample 5g–10g124.25120.65-3.60
Fire Assay Cash131.16127.35-3.81

The average decline of around US$3.7 per gram marks one of the steepest single-day drops in recent weeks.

Market analysts attribute the fall to a strengthening U.S. dollar and reduced safe-haven demand as global markets show signs of stabilisation. Traders have also pointed to possible profit-taking following gold’s recent rally above US$4,000/oz levels.

Despite the pullback, experts maintain that long-term prospects for gold remain positive, driven by central bank demand, geopolitical uncertainty, and inflationary pressures that continue to support the metal’s safe-haven appeal.

Fidelity’s daily pricing remains the benchmark for Zimbabwe’s small-scale and large-scale gold producers, influencing sales and deliveries across the sector.

Gold buying prices in Zimbabwe per gram/ ounce, 22 October 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 22 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 22 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE126.683,938.69
SG 85% and above but below 90%125.343,897.17
SG 80% and above but below 85%124.003,855.64
SG 75% and above but below 80%122.663,814.12
Sample 5g and above but below 10g120.653,752.15
Fire Assay CASH127.353,962.99

 

NB: Fire Assay cash price is for gold above 100g, no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

Caledonia Reports Marginal Q3 Output Gain, Year-to-Date Production Up 3.6%

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Caledonia Reports Marginal Q3 Output Gain, Year-to-Date Production Up 3.6%

Victoria Falls Stock Exchange-listed miner Caledonia Mining Corporation recorded a marginal 0.6% increase in gold production to 19,106 ounces for the quarter ended September, up from 18,992 ounces posted in the prior comparable period, Mining Zimbabwe can report.

By Ryan Chigoche

The improved output in the third quarter lifted the company’s cumulative gold production for the nine months to the end of September to 58,846 ounces, reflecting a 3.6% rise from 56,815 ounces achieved in the same period last year.

This steady performance underscores the strength of operations at Caledonia’s flagship Blanket Mine, which continues to anchor the company’s growth and operational plans.

Commenting on the results, Caledonia Chief Executive Mark Learmonth attributed the consistent performance to sustained operational discipline and targeted investments.

“We’re pleased to report another quarter of solid performance at Blanket, building on the exceptional start to the year. The consistency of our output reflects the strategic investments we’ve made across the business, and we remain on track to meet our increased production guidance,” Learmonth said.

In line with this strategy, Caledonia has been implementing a capital investment programme worth around US$41.8 million for 2025, with US$34.9 million channelled towards Blanket Mine to modernise operations, enhance safety systems, and expand production capacity.

The miner also reported improved metallurgical recoveries, achieving a record 94.4% recovery rate in Q2 2025 — a development that continues to support stronger quarterly output and efficiency gains.

Looking ahead, Caledonia reaffirmed its gold production guidance for 2025, projecting between 75,500 and 79,500 ounces as operational upgrades and resource optimisation initiatives continue to take effect.

However, despite the strong performance, the company expressed deep regret over a fatal incident involving a Blanket Mine employee during the period, following an accident related to secondary blasting.

“On behalf of Caledonia, I extend our heartfelt condolences to the family and colleagues of the deceased. The safety and well-being of our workforce remain our highest priority,” Learmonth added.

Caledonia Sets Out Bilboes Financing Plan

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Caledonia Sets Out Bilboes Financing Plan

Caledonia Mining Corporation is advancing plans to develop its Bilboes Gold Project in Zimbabwe, emphasizing a strategic approach to financing that combines cash-generating assets with high-potential projects to mitigate investment risks in a challenging environment, Mining Zimbabwe reports.

By Ryan Chigoche

This approach, designed to balance risk and reward, underpins the company’s plans to advance the Bilboes Gold Project, one of its most significant growth ventures in the country.

Zimbabwe’s mining sector is often considered high-risk due to factors such as regulatory uncertainty, currency volatility, power shortages, and historical disputes over mining rights. These challenges necessitate innovative financing strategies to attract investment.

Victor Gapare, Executive Director at Caledonia, elaborated on the company’s approach:

“The strategy was always to combine cash-flowing assets with a significant resource project so that when we raise capital, we have existing cash flow to support the project. By merging these assets in a high-risk jurisdiction like Zimbabwe, we could secure funding and achieve reasonable valuations. Over the past few years, we’ve also reassessed the project to reduce capital costs and explored smaller-scale versions to ensure feasibility,” Gapare said.

A board decision on the next phase of the Bilboes Project — including project design, budget approval, and the start of detailed engineering — is expected by November, with equipment orders planned for the following year.

By integrating Bilboes with cash-generating operations such as Blanket, Caledonia aims to secure financing more efficiently while protecting shareholder value.

The project is expected to significantly increase output, moving the company from 75,000–80,000 ounces of gold annually to a projected 250,000–300,000 ounces per year once the assets are fully integrated.

With cash-flowing mines like Blanket supporting the Bilboes Project, Caledonia aims to grow steadily while managing risk in Zimbabwe’s challenging mining landscape.

Through a combination of careful planning and disciplined financing, the company expects to strengthen production and deliver value for shareholders.

Gold buying prices in Zimbabwe per gram/ ounce, 21 October 2025

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Gold buying prices in Zimbabwe per gram/ ounce, 21 October 2025

Gold buying prices in Zimbabwe per gram/ ounce, 21 October 2025, from the official gold buyer and exporter Fidelity Gold Refinery (FGR).

1 oz = 31.1035 g

CategoryPrice ($/g)Price ($/oz)
SG 90% and ABOVE130.474,060.22
SG 85% and above but below 90%129.094,017.91
SG 80% and above but below 85%127.713,975.59
SG 75% and above but below 80%126.333,933.27
Sample 5g and above but below 10g124.253,868.36
Fire Assay CASH131.164,078.29

 

NB: Fire Assay cash price is for gold above 100g, no sample is deducted.

A sample of not more than 10g is deducted for the Fire Assay Transfer price.

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