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Gold Export Surge Fails to Curb Growing Trade Deficit in September
Despite a 40.2% surge in gold output in August, up from 37.9% in the previous month, Zimbabwe's trade deficit widened by 4.2% in September, reaching US$207.6 million, up from US$199.1 million in August, according to the...
Fidelity Gold Refinery Targets a Record 40 Tonnes of Gold Deliveries in 2025
Fidelity Gold Refinery (FGR), Zimbabwe's sole gold buyer and exporter, has set an ambitious target of 40 tonnes of gold deliveries for 2025. This goal builds on the company's strong performance in 2024, during which it...
RBZ implored to shore up gold reserves as the current 2.5 tonnes insufficient to fully back ZWG currency
In order to fully support the recently devalued Zimbabwe Gold ( ZWG) currency analysts have implored the authorities to shore up the reserves as the current gold reserves of 2.5 tonnes are not sufficient to fully back the...
Fidelity Gold Price Breaches the US$80/g Mark
Today, Fidelity Gold Refinery (FGR) gold prices breached the US$80 per gram mark today, the highest price ever paid for bullion, Mining Zimbabwe can report.By Ryan ChigocheThe FGR bullion price has been hovering between US$70 to...
Government Eyes Higher Gold Deliveries Despite 7% Increase
While gold deliveries to Fidelity Gold Refinery (FGR), the country’s sole operating gold buyer and exporter, increased by 7% from January to August 2024 compared to the same period last year, the government believes that deliveries...
Export Receipts Surge Over 9%, Driven by Gold
The country's total foreign currency earnings increased by approximately 9.5% during the first half of 2024 compared to the same period last year, largely driven by growth in export receipts from gold, said the Minister of...
Global Economic Uncertainties Drive 14.6% Increase in Gold Exports in HY2024
Zimbabwe's gold exports in the first six months of 2024 surged by 14.6% to US$970.4 million, up from US$846.6 million in the comparable period of the previous year, as bullion defied the trend of weakening prices...
RioZim Achieves 940kg Gold Production in 2023, Up 1% Despite Operational Challenges
Zimbabwe Stock Exchange-listed miner RioZim produced 940 kg of gold in 2023, marking a 1% increase despite facing significant operational challenges throughout the financial year.By Ryan ChigocheThe company experienced a boost in revenue due to favourable...
Mining Growth Projections Reduced to 5.2% Due to Expected Lower Gold Production
The government of Zimbabwe has revised its mining growth projections for 2024, reducing the expected growth from the initial 7.6 percent projected at the beginning of the year to 5.2 percent as of June. This adjustment...
MMCZ generates USD 1.5 Billion in Q1 amid softening commodity prices
The Minerals Marketing Corporation of Zimbabwe (MMCZ), the nation's sole minerals marketing agent excluding gold and silver, sold a total of 1.9 million metric tonnes (mt) of minerals valued at USD 1.5 billion in the first...
Gold Miners Applaud VAT Relief but Urge Clear Legislation for 2024
Miners have welcomed the zero-rating of gold supply to Fidelity Gold Refinery (FGR), noting that it alleviates operational burdens. However, they called for clearer legislation as the new statutory instrument (SI) 105 of 2024 does not...
Kuvimba’s Gold Output Reaches 300 kg Monthly, Eyes Further Expansion
The country's biggest operational asset holder, Kuvimba Mining House (KMH), is making waves with its impressive gold production, averaging 300 kilograms of gold per month from its three gold mines.By Rudairo MapurangaKMH is also setting its...
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