The Chamber of Mines Zimbabwe (CoMZ) has forecasted a US$6.5 billion revenue for the mining sector in 2025, driven by increased production and the expected recovery of commodity prices.
After a tumultuous 2024, marked by record-low commodity prices, power outages, and escalating operational costs, Zimbabwe’s mining industry managed to maintain a level of resilience, with gold exports generating US$2.5 billion, compensating for the underperformance of other commodities, particularly within the platinum group of metals.
Despite the challenges faced in 2024, CoMZ President Thomas Gono expressed optimism for 2025, highlighting a 7% expected growth in mineral output on top of the US$5.9 billion in revenues generated the previous year.
“Miners saw a 5% growth in 2024, compared to 4% in 2023,” said Gono, noting that platinum, copper, and lithium are anticipated to see a recovery, which will bolster overall revenue. He added, “The outlook for 2025 is positive, and we expect these recoveries in base metals to contribute to a projected revenue of US$6.5 billion.”
With a boost from these base metals, the sector is poised to sustain its critical contribution to Zimbabwe’s economy, with mining accounting for over 60% of export earnings.
