Zimbabwe is on track to surpass its annual 50-tonne gold delivery target after reaching 35.88 tonnes by the end of September 2026, driven by consistent quarterly growth and robust contributions from artisanal miners.
Fidelity Gold Refinery recorded steady increases throughout the year, climbing from 9.31 tonnes in the first quarter to 12.09 tonnes in the second, and peaking at 14.48 tonnes in the third quarter. With deliveries already at 35.88 tonnes by late September 2026, the country requires just 14.12 tonnes over the final three months to hit the baseline target.
Sustained Growth Powered by Small-Scale Miners
Artisanal and small-scale miners have generated 25.78 tonnes, accounting for nearly 72 percent of total deliveries to date. Monthly output must average 4.71 tonnes through December to reach the 50-tonne mark, representing an 18 percent increase over the year’s average of 3.99 tonnes.
A strong September delivery of 4.72 tonnes signals that production will likely exceed minimum projections. Mines and Mining Development Minister Polite Kambamura attributed the sustained trajectory to ongoing fiscal and monetary reforms.
It is almost three months to go before the year comes to an end, and what we are witnessing is another record-breaking year for gold deliveries that are being sustained as a result of fiscal and monetary reforms.
Kambamura stated.
He noted that government interventions have successfully positioned the yellow metal as a key enabler for growth. Typically, the fourth quarter experiences a production slump due to the rainy season. However, delayed rains this year are expected to minimize disruptions, allowing small-scale operations to maintain their momentum.
Comparative Gold Deliveries and Projections
Even under a conservative scenario where monthly output averages four tonnes for the remainder of the year, total production would reach approximately 47.8 tonnes. That figure comfortably exceeds last year’s total of 46.7 tonnes, reinforcing gold’s status as the nation’s principal export and leading foreign-currency generator.
| Period (2026) | Deliveries (Tonnes) |
|---|---|
| Q1 | 9.31 |
| Q2 | 12.09 |
| Q3 | 14.48 |
| January–September Total | 35.88 |
With three months remaining and favorable weather conditions supporting continuous extraction, officials remain confident that the 50-tonne threshold will be crossed before the close of the calendar year.
