MMCZ Projects US$3,3 Billion Mineral Revenues in 2026

Zimbabwe’s Minerals Marketing Corporation projects US$3,3 billion in mineral revenues for 2026 (image source)

HARARE — The Minerals Marketing Corporation of Zimbabwe (MMCZ) has projected mineral revenues of US$3,3 billion for 2026, representing a 3,1% increase from the US$3,2 billion recorded in 2025. The anticipated growth is expected to be driven by improved export performance, stronger compliance measures and price recovery in key commodities.

The outlook comes against a challenging global backdrop. According to the World Bank, global commodity prices are forecast to decline by 7% this year amid geopolitical tensions, subdued economic activity and persistent trade frictions. However, gold prices are expected to surge to over US$5,000 per ounce as central banks and financial institutions increasingly turn to the metal as a safe store of value. Gold remains one of Zimbabwe’s most critical export commodities.

MMCZ general manager Nomusa Moyo said the corporation’s revenue projection is anchored on enhanced monitoring and value-realisation measures. “The mineral revenue projection for the year is US$3,3 billion. This will be underpinned by improved export performance, price recovery in key commodities and strengthened compliance and value-realisation measures across the sector,” she said.

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In 2025, MMCZ sold more than three million tonnes of minerals, exceeding its target of 2,6 million tonnes by about 15%. Building on this performance, the corporation is working closely with other agencies to strengthen transparency and efficiency across the sector. Measures include independent verification of mineral quality and quantities, benchmark pricing, robust laboratory testing, regular audits, strengthened border controls and inter-agency enforcement frameworks.

Moyo, however, raised concern over persistent mineral leakages, which are estimated to cost Zimbabwe more than US$1 billion annually. To curb the losses, MMCZ is rolling out advanced technologies, including drone surveillance, to enable real-time monitoring and strengthen enforcement.

The corporation has also invested more than US$3 million in high-end laboratory equipment at Metlab and the Zimbabwe School of Mines, funded the installation of weighbridges to improve cargo quantification and intensified mine audits to reconcile production with declared output. Border monitoring programmes are being expanded, while permanent monitoring personnel have been deployed at all platinum group metals mines.

Despite these interventions, Moyo said challenges remain, including mineral leakages, pricing distortions, market volatility and limited sector-wide systems integration. She stressed that coordinated enforcement and sustained compliance efforts are critical to safeguarding Zimbabwe’s mineral revenues.