Zim Mineral Exports Up, Earnings Tumble

Rutendo Mazhindu – Zim Now Reporter

Zimbabwe exported more minerals in the first quarter of 2025, but earnings dropped sharply due to problems in the platinum group metals sector, the Mineral Marketing Corporation of Zimbabwe has confirmed.

According to the latest MMCZ report, mineral export volumes rose by 16% to 1,021,296 metric tonnes, compared to 883,301 tonnes during the same period in 2024.

However, despite the increase in volumes, revenue fell by 27%, from US$758.7 million last year to US$555.2 million this year.

“The major cause of the revenue decline was the drop in PGM concentrate sales,” said an MMCZ official.

PGM matte remained the top earner, bringing in US$208.4 million from 4,762 ounces, mainly from Zimplats and Unki. However, the figures were weighed down by setbacks in the sector.

“The delay in the Mimosa–Zimplats toll processing deal, along with power outages that affected production at Unki Mine late last year, heavily impacted PGM exports,” the corporation added.

Other strong performers included spodumene—a key lithium mineral used in electric vehicle batteries—which brought in US$83.5 million from 244,414 tonnes, and high-carbon ferrochrome, which earned US$73.4 million from 98,129 tonnes, driven by improved production efficiency.

Coke followed with US$51.8 million from 264,331 tonnes, while PGM concentrates, affected by processing delays at Mimosa, brought in US$48.7 million from 15,250.8 tonnes.

The report noted that gold exports were not included in the figures, as they fall under Fidelity Gold Refinery and are managed separately by the Reserve Bank of Zimbabwe.

MMCZ is hopeful that revenue will bounce back in the second quarter.

“We expect better results once the Mimosa–Zimplats tolling arrangement is finalised. This will boost local processing and help retain more value in the country,” MMCZ said.