Zimbabwe records 0.36% decline in gold deliveries

Zimbabwe’s gold deliveries to Fidelity Gold Refinery (FGR) in August 2025 reached 4,189.77 kg, a slight 0.36% decline from July’s 4,205.02 kg.

However, year-on-year deliveries surged 22.57%, up from 3,418.09 kg in August 2024, highlighting the sector’s resilience.

The artisanal and small-scale mining (ASM) sector remained dominant, contributing 3,249.93 kg (78% of total), a 1.56% rise month-on-month and a remarkable 35.96% jump year-on-year.

In contrast, large-scale producers delivered 939.84 kg, down 6.51% from July and 8.51% below August 2024.

This pattern mirrors July, where ASM growth offset large-scale softness, reaffirming ASM’s pivotal role in Zimbabwe’s gold sector.

The first half of 2025 saw gold deliveries of 20,103.55 kg, up 45.85% year-on-year, with ASM nearly doubling output (+96.31%).

The strong trend, supported by FGR’s competitive price of US$105+/gram that curbs illicit trade, positions Zimbabwe to surpass its 40-tonne gold output target for 2025, provided stability and supportive policies continue.

Zimbabwe Economic Review