Zimbabwe Mining Sector Generates US$3 Billion in 11 Months

Zimbabwe’s mining sector generated over US$3 billion in mineral sales in the first 11 months of the year (image source)

HARARE — Zimbabwe’s mining sector generated more than US$3 billion in mineral sales during the first 11 months of the year, underscoring the industry’s resilience despite continued volatility in global commodity markets, according to figures released by the Minerals Marketing Corporation of Zimbabwe (MMCZ).

The data shows that over four million metric tonnes of minerals were sold between January and November, marking an increase of more than 10 percent compared to the same period last year. The growth comes at a time when international commodity markets have been affected by fluctuating prices and geopolitical tensions.

Platinum Group of Metals (PGMs) emerged as the leading revenue contributor, driven largely by renewed demand from Asian markets. Analysts say the strong performance has boosted foreign currency inflows and reaffirmed mining’s position as a key pillar of Zimbabwe’s economy.

Zimbabwe Miners Federation chief executive officer Wellington Takavarasha said the figures reflect the sector’s determination to remain competitive under challenging conditions. He noted that rising export volumes and receipts signal a mining industry capable of delivering sustained value to the economy, provided supportive and business-friendly policies remain in place.

Economist Persistence Gwanyanya attributed the sector’s growth to sustained capital investment since 2021, particularly in large-scale mining operations. He said increased demand for PGMs in Asia has played a significant role in driving export growth, helping to stabilise the economy through improved foreign currency earnings.

Under the National Development Strategy 2 (NDS2), Government has prioritised market diversification, mineral beneficiation and value addition to enhance the sector’s contribution to economic growth. Officials say the latest performance indicators suggest these measures are beginning to yield results, although structural challenges persist.

Industry stakeholders caution that sustaining the growth momentum will require continued investment in infrastructure, reliable energy supply, and regulatory reforms. Transport bottlenecks, power shortages and policy inconsistencies remain potential constraints. Despite these challenges, the mining sector has managed to weather global headwinds, with PGMs anchoring its performance.

For now, the US$3 billion milestone stands as a clear indicator of the sector’s resilience and its central role in Zimbabwe’s economic recovery and long-term development.