Business Reporter
THE Mutapa Investment Fund (MIF) unit, Fidelity Gold Refineries (FGR) has reported a 29% surge in gold output for the ten months period ended October 31 2025.
Latest data shows that during the reporting period gold output reached 41, 8 tons from 32, 4 tons when compared to the Same Period Last Year
“The artisanal and small-scale mining sector emerged as the powerhouse behind the impressive national output, contributing 30, 99 tons, an increase from the 20, 4 tons last year. The sector now accounts for approximately 74 percent of the total national gold output,” FGR said.
The latest surge is also attributed to the government incentives and increased formalisation efforts.
The sector largely operates with less capital and more rudimentary methods compared to large-scale producers. Deliveries from large-scale producers dropped to 10, 79 tons from 11, 7 tons recorded during the same period last year.
The surge in Zimbabwe’s gold deliveries was capped by a stellar performance in September, which recorded the highest monthly output for the year at 4,4 tons.
The government says the sustained gold production underscores the effectiveness of the ongoing initiatives to formalise and empower the small-scale mining sector, recognising its vital role in the industry.
Gold remains the country’s largest export earner. Foreign receipts for the 10 months to October 2025 soared 88,9 percent to US$3,76 billion from US$1,99 billion earned in the same period last year, according to the latest statistics from the Reserve Bank of Zimbabwe (RBZ).
This performance is primarily attributed to the country benefitting from record international gold prices, which has provided a significant boost to the country’s foreign currency income.
Concerns raised by gold producers over the newly proposed gold royalty structure have prompted a hint of possible changes.
The Government’s intent is to refine its revenue framework while supporting the long-term viability of the gold sector. The proposed royalty system introduces a three-tier, sliding-scale structure designed to align tax obligations with global market performance.
