Zimbabwe’s mining sector is poised for a strong rebound in 2025, with projections showing a growth rate of over 7 percent, largely driven by impressive gains in gold and coal output. The Chamber of Mines of Zimbabwe (CoMZ) has attributed this positive outlook to robust production figures in the first quarter of 2024 and favourable global market conditions.
Gold production, which remains the country’s leading export commodity, jumped by 35 percent in the first quarter of the year, while coal output surged by a remarkable 61 percent. The mining sector, which accounts for around 90 percent of Zimbabwe’s foreign currency earnings, is expected to play a central role in national economic recovery efforts.
According to CoMZ chief executive Mr Isaac Kwesu, the growth in these key minerals has significantly improved prospects for the industry. “We anticipate the mining industry to grow by plus or minus 7 percent in 2025, which is a significant number in terms of both volume and value,” he said.
Kwesu noted that gold’s share of total mining exports is expected to rise from 25 percent last year to around 40 percent by 2025, bolstered by a global price rally that has seen gold reach all-time highs of US$3,000 per ounce amid geopolitical tensions and safe-haven demand. At the same time, the sharp rise in coal production is shifting the commodity’s weight within the national mining portfolio, with the potential to reach double-digit contributions.
Zimbabwe’s total mineral revenue is projected to hit US$6.2 billion in 2025, an increase from US$5.9 billion recorded in the previous year. Although other minerals recorded a more muted performance in the first quarter, the Chamber anticipates a rebound in the second half of the year, in line with historical seasonal trends.
Economist Mrs Gladys Shumbambiri-Mutsopotsi welcomed the sector’s upward trajectory, describing it as a positive signal for the wider economy. “A 35 percent increase in gold output alongside a 61 percent surge in coal is impressive and points to stronger export earnings,” she said. However, she stressed the need for the sector’s growth to be underpinned by reinvestment in infrastructure, environmental stewardship, and human capital development.
Another economist, Mr Tinevimbo Shava, echoed this sentiment, calling on policymakers to ensure that enabling conditions are in place to sustain the momentum. “Supportive regulatory reforms, targeted beneficiation strategies, and infrastructure development will be critical,” he said. He also highlighted the importance of incentivising production in underperforming minerals to achieve balanced sector growth.
Spotlight on Victoria Falls Mining Conference
These developments will take centre stage at the highly anticipated 2025 Annual Mining Conference, scheduled for 21–24 May in Victoria Falls. Themed “Unlocking Growth Potential for the Zimbabwe Mining Industry,” the event will bring together government officials, industry experts, and investors.
Key sessions include a closed-door Annual General Meeting, a Gold Symposium featuring insights from industry leaders in South Africa, Ghana, and Zimbabwe, as well as a Platinum Group Metals (PGMs) Indaba.
The conference’s official opening on day three will be headlined by Reserve Bank Governor Dr John Mushayavanhu, Deputy Finance Minister David Mnangagwa, and ZIMRA Commissioner-General Mrs Monica Chinamasa. Delegates will discuss vital issues such as local content policies, ESG (Environmental, Social, and Governance) practices, financing options, and energy solutions.
As Zimbabwe continues to position mining as a cornerstone of its economic transformation strategy, the current optimism in gold and coal could pave the way for broader sector revitalisation—provided that regulatory and investment bottlenecks are effectively addressed.
