In 2025, Zimbabwe’s Minerals Marketing Authority (MMCZ), responsible for marketing minerals excluding gold and silver, reported export revenues of $3.4 billion, representing a 6% increase from 2024. Despite this growth, the figure remains significantly below the national target of $12 billion, which has yet to be achieved, pending the release of gold and silver export data.
The country initially aimed to reach the $12 billion target by 2023, but progress has been slower than expected. Available figures show that mining revenues were $5.4 billion in 2023 and $5.56 billion in 2024. While the MMCZ stated it exceeded its own internal targets in 2025, it did not comment on the national benchmark. Most of the 2025 revenues came from platinum group metals, lithium, chrome, and ferro-alloys.
A complete assessment of Zimbabwe’s 2025 mining performance will depend on gold and silver export data, as both metals benefited from higher global prices. In early January, Fidelity Gold Refinery reported record gold production of 46.7 tonnes, a 17% increase from 2024. The CEO, Peter Magaramombe, attributed this rise to strong market prices but did not disclose the effect on total revenue.
Mining continues to be a central pillar of Zimbabwe’s economy, contributing 80% of exports and 19% of government revenue. Achieving the $12 billion export target would mark a significant economic milestone, but authorities have not provided updated revenue targets or a timeline to reach this goal.
