Zimbabwe rakes in US$3,4 billion from mineral sales
ZIMBABWE generated US$3,4 billion from mineral exports in the year 2025 in a move which signifies the impact of natural resources as a major foreign currency earner.
The details contained in the Minerals Marketing Corporation of Zimbabwe (MMCZ) latest report show that cumulative mineral sales for FY2025 reached 4,890,720.05 metric tons, valued at US$3.4 billion, surpassing the budgeted 4,756,352.64 metric tons valued at US$3.2 billion.
This represents positive variances of 3% in volume and 6% in value. Compared to FY2024, when 3,032,681.24 metric tons valued at US$2.9 billion were exported, FY2025 performance reflects a surge of 61% and 14% in volume and value terms, respectively.
MMCZ general manager Dr. Nomusa Jane Moyo attributed the growth to a rebound in prices for key revenue-generating minerals, particularly Platinum Group Metals (PGMs), coupled with improved export processing efficiencies.
“Value growth, however, was partially constrained by lower rough diamond sales volumes, depressed diamond prices and heightened competition in the coke market, which necessitated strategic price adjustments to maintain market share, ”she said.
Platinum Group Metals (PGMs) sales exceeded targets, with 73,506 metric tons sold at a value of US$306 million. Compared to FY2024, volumes declined by 52% and value by 44%, following exports of 153,957 metric tons valued at US$549 million in the prior year.
The contraction in both volume and value is attributable to a shift towards downstream beneficiation of PGM concentrates into matte through toll-processing arrangements between PGM producers, resulting in reduced direct concentrate exports.
During the period, lithium sales reached 1,522,893.93 metric tonnes, generating US$571.6 million, outperforming volume and revenue targets by 33% and 10%, respectively.
Pollucite sales declined sharply in volume to 2,311.00 metric tonnes, a 79% decrease against an 11,000 metric tonne benchmark. Despite lower volumes, revenue of US$6.18 million exceeded projections by 55%.
Combined ferro-alloy sales—(high carbon ferrochrome, medium carbon ferrochrome and ferro-silicon chrome)—totalled 433,293 metric tonnes, valued at US$372 million, reflecting a 19% increase in volume and an 11% increase in value compared to FY2024, when 364,902 metric tonnes were sold at US$334 million.
MMCZ sold 886,752 metric tonnes of chrome concentrates, generating US$150 million. Export volumes increased marginally by less than 1% year-on-year; however, revenue declined by 12% due to lower average market prices.
Steel sales reached US$92.1 million from 146,314 metric tonnes sold during the year. This represents a 450% increase in value compared to FY2024, when 80,476 metric tonnes were sold at US$16.7 million.
“MMCZ projects a US$3.5 billion revenue target for 2026, underpinned by a positive outlook for PGMs, driven by supply constraints and growing demand from hydrogen energy, jewellery and industrial applications. The diamond market is expected to remain mixed, with robust demand for large, high-quality stones offset by continued pressure on smaller goods,” added Moyo. _*NewZimbabwe*_
