Zimbabwe Mining Sector Records Export Surge

Mines Minister Winston Chitando

Rutendo Mazhindu - ZimNow Reporter

Zimbabwe’s push for mineral value addition is beginning to bear fruit, with notable progress in the platinum group metals (PGMs) and lithium industries over the past year.

The mining sector recorded its highest-ever export earnings in 2024, reaching US$5.9 billion, up from US$5.4 billion in 2023, according to figures released at the Chamber of Mines Annual Conference.

The growth was driven by a 24 percent rise in international gold prices and the enforcement of beneficiation policies under the Second Republic.

Outgoing Chamber of Mines president Thomas Gono said the country is making strides in processing minerals locally, especially in the PGMs sector.

“Following the roadmap agreed between the Government and the PGMs industry, mandating matte production as the minimum beneficiation threshold, the industry now boasts adequate smelting capacity,” Gono said.

“All concentrates are currently being processed locally, and producers without smelters are toll-processing their materials at Zimplats.”

He added that the lithium sector has also shifted towards domestic processing in line with national policy.

“In the lithium sector, stakeholders and Government have agreed that lithium sulphate, rather than lithium carbonate, will serve as the minimum beneficiation level,” he said.

“This reflects the technical and economic reality that lithium sulphate is more viable for Zimbabwe’s hard rock lithium. Processing facilities are under development and are expected to become operational between 2026 and 2027.”

Mines and Mining Development Minister Winston Chitando said the Government is also intensifying efforts to enforce environmental responsibility in mining.

“In some coal mining areas, public roads are completely gone. That must stop,” said Chitando. “President Emmerson Mnangagwa, will launch the Responsible Mining Initiative II in July, a comprehensive framework to address environmental indiscipline across the mining sector.”

The mining sector is forecast to grow by 5.6% in 2025, driven by expansion projects in the gold and coal industries. Export earnings are expected to surpass US$6 billion, aided by strong global gold prices and sustained local beneficiation.