Zimbabwe is closing in on its annual gold production target after deliveries to the country’s sole gold buyer and refiner reached 41.4 tonnes in the first 10 months of 2026, putting the country on course to surpass its minimum target of 50 tonnes.
The state-run Herald newspaper reported on Thursday that the strong performance was driven largely by small-scale miners, whose contributions continued to dominate the country’s gold sector.
According to figures from the central bank’s Fidelity Gold Refiners, artisanal and small-scale miners delivered 30.1 tonnes between January and October, accounting for nearly 73 per cent of total gold deliveries, while large-scale producers contributed 11.3 tonnes.
The sector recorded its strongest monthly performance in October, with deliveries reaching 5.5 tonnes, the highest monthly total recorded so far this year.
The government is targeting gold deliveries of between 50 and 55 tonnes in 2026, representing an increase from the 46.7 tonnes recorded in 2025.
Gold remains Zimbabwe’s largest export earner, accounting for a substantial share of the country’s foreign exchange receipts and serving as a major reserve asset backing its ZiG currency.
The country’s growing dependence on artisanal and small-scale miners reflects their increasing contribution to national production in recent years, supported by government efforts to formalise mining activities and improve access to markets.
Authorities are also pursuing measures to boost output through the formalisation of artisanal mining operations and investments in mineral processing infrastructure.
The latest figures highlights the growing importance of small-scale miners in Zimbabwe’s economy, as the country seeks to strengthen foreign exchange earnings, improve economic stability and sustain growth in its mining sector.
