Small-scale miners dominate as gold production jumps 29pc – The Zimbabwe Mail

📅 Published: August 18, 2025

📰 Source: thezimbabwemail_enhanced

Curated by AllZimNews.com

Gold is Zimbabwe’s single largest export, while mining in general accounts for more than 75 percent of the country’s export earnings.

Fidelity Gold Refinery (FGR), Zimbabwe’s sole authorised gold buyer, has taken delivery of 24,31 tonnes since January, official data shows.

In the first seven months of 2024, Zimbabwe produced 17,2 tonnes of gold.

Between January and July this year, artisanal and small-scale miners delivered about 17,76 tonnes to Fidelity, while primary producers managed 6,55 tonnes.

The small-scale producers’ performance underscores the integral element that artisanal mining, once outlawed, now plays in Zimbabwe’s economic growth and development.

Small-scale and artisanal mining has become extremely important to Zimbabwe’s economy and social fabric, providing livelihoods for a large portion of the population and contributing significantly to the country’s gold production.

Notably, gold production has maintained an upward trajectory since the beginning of the year.

Total deliveries from January through March reached 20,10 tonnes, with small-scale producers supplying 14,56 tonnes against 5,54 tonnes from primary producers.

Amid the firm haven demand globally, the average price per ounce in that first quarter reached a record US$2 862. 56, a scenario analysts say has incentivised miners to ramp up production.

Production peaked in July, which saw the largest single-month intake in 2025.

Combined deliveries totalled 4,21 tonnes, with 3,20 tonnes coming from small-scale miners and 1,01 tonnes from large-scale producers.

Global prices have kept rising, driving demand for bullion as the most attractive investment hedge.