Gold production surges 23%
STAFF WRITER
Gold production recorded strong growth in August, with deliveries to the country’s sole authorised buyer and marketer, Fidelity Gold Refinery (FGR), reaching 4,189 tonnes, a 22,6%increase compared to 3,418 tonnes in the same period last year.
Artisanal and small-scale miners dominated output, delivering 3,249 tonnes in August 2025, up 36 percent from 2,39 tonnes last year, accounting for nearly 78 percent of the total. In contrast, primary producers delivered 939kg, down 8,51% from 1,027 tonnes.
For the eight months to August, gold output stood at 28,498 tonnes, putting Zimbabwe on track to surpass its 40-tonne annual target. Small-scale producers contributed 21,011 tonnes, while primary producers delivered 7,486 tonnes.
The growth is being driven by high global gold prices, which hit multiple records in 2025, and improved confidence in formal marketing channels. Exports rose to US$1,385bn in the first seven months of 2025, a 60,5% increase from US$863,1 million in 2024, according to the Reserve Bank of Zimbabwe (RBZ).
Gold’s global price rally continued Friday, with spot gold rising 0,5% to US$3 651,92 per ounce, just shy of the US$3 673,95 record set earlier in the week. Analysts see potential for prices to reach between US$3 700 and US$3 730 in the near term.
The rally, which has lifted prices 37 percent year-to-date after a 27 percent gain in 2024, is being fueled by a weaker US dollar, strong central bank demand, dovish monetary policies, and heightened global uncertainty that has reinforced gold’s safe-haven appeal.
