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Zimbabwe’s artisanal and small-scale gold miners are enjoying a major windfall as gold prices surged to US$118.26 per gram (3,678.64), the highest level seen in recent months.
The jump in prices has brought renewed optimism to the artisanal and small-scale mining sector, which contributes over 60% of the country’s gold deliveries.
Industry observers say the timing could not be better for small-scale producers, many of whom have battled rising operational costs due to fuel shortages, electricity challenges, and high input prices. With prices firming, miners are reporting better profit margins and increased deliveries to the country’s official buyer, Fidelity Gold Refinery (FGR).
“This price is a game changer. At US$118 per gram, our efforts are finally paying off. We can reinvest in equipment and improve operations,” said a Evans Maponga, a Mazowe-based miner.
Gold has long been Zimbabwe’s top foreign currency earner, and higher prices are expected to boost national reserves at a time when the economy is battling liquidity constraints. According to FGR, deliveries from small-scale miners have been rising steadily, and the latest price movement is likely to further stimulate production.
Economic analysts note that while global factors such as inflation fears, geopolitical tensions, and demand for safe-haven assets are driving the international gold rally, the impact on Zimbabwe’s small-scale miners is particularly pronounced. For many rural communities, gold mining remains the backbone of livelihoods, supporting thousands of families.
However, concerns remain around sustainability, with frequent accidents, environmental degradation, and smuggling continuing to undermine the sector. Experts are urging the government and stakeholders to invest in mechanisation, safety, and formalisation to ensure long-term benefits.
For now, though, the small-scale miners are celebrating. As one miner put it: “Zvakabhadhara.”
