Africa Mining: Zimbabwe Mineral Exports Rose by 27% in the First Half of the Year

Zimbabwe’s mineral exports grew by 27% in the first half of this year compared to the same period in 2024, reaching approximately 2.4 million tonnes. The information was released by the Minerals Marketing Corporation of Zimbabwe (MMCZ), the entity responsible for the marketing of all minerals except gold and silver.

This volume generated revenues of around USD 1.4 billion. Mining accounts for roughly 12% of the country’s Gross Domestic Product (GDP) and approximately 80% of its national exports. Zimbabwe holds vast reserves of platinum, gold, chrome, and diamonds.

Despite the increase in exported volume, revenue recorded a slight decline due to weak demand for ferrochrome, lithium, and rough diamonds. This decrease was driven by a slowdown in manufacturing industries, which pushed the prices of these minerals down.

Conversely, geopolitical tensions pushed up the price of gold on international markets. Platinum also performed better, benefitting from increased demand in the jewellery sector, where it has been used as an alternative to gold.

Regarding lithium, while global demand continues to rise, prices have declined. This drop is partly due to high tariffs imposed by the United States and the European Union on Chinese electric vehicles, which negatively affected the global battery supply chain. The MMCZ forecasts a medium-term recovery in lithium prices and advocates for increased investment in research and development. The institution considers it essential for Zimbabwe’s innovation hubs to develop more sustainable and efficient batteries tailored to the market’s new dynamics.

As for ferrochrome, sales are expected to increase in the third quarter. However, chrome ore continues to face challenges due to global oversupply and high inventory levels at Chinese ports, which currently exceed 2.9 million tonnes. For this reason, the MMCZ proposes a total ban on chrome ore exports to encourage local processing.

MMCZ Director-General Nomsa Moyo warned of logistical challenges affecting the sector, citing the heavy reliance on road transport, which undermines the country’s competitiveness—especially compared to nations with better infrastructure.

High costs and export delays are worsened by the poor condition of the National Railways of Zimbabwe (NRZ), which hampers the efficient movement of mineral products.

Moyo also highlighted the environmental impacts of mining activity, particularly in granite and chrome operations, and called for stricter oversight to ensure more responsible and sustainable mining practices. (The Herald)