Source: Zim mineral exports register 13pc surge – herald
Martin Kadzere
Zimbabwe’s mineral export volume rose by 13 percent in the four months to April 2025 compared to the same period last year, driven by significant increases across major minerals, according to the latest figures from the Minerals Marketing Corporation of Zimbabwe (MMCZ).
Of particular significance was the commencement of steel exports, driven by the commissioning of the Manhize plant, signalling Zimbabwe’s return to the regional iron and steel markets.
Despite an increase in sales volume, the MMCZ, the Government-owned marketing agency for all minerals except gold and silver, reported a 27 percent decline in value terms, largely due to a sharp drop in Platinum Group Metals (PGMs).
For the first four months, the MMCZ reported selling about 1,5 million tonnes of minerals valued at US$779,7 million.
This compares to April 2024, when the corporation sold 1,3 million tonnes valued at US$1 billion.
The MMCZ noted that the beneficiation tax has significantly impacted major PGM producers, leading to Mimosa Mining Company, a key player, being unable to sell any concentrate since February.
Platinum prices reached a two-year high last Friday, hitting US$1 097.54 per ounce, a level not seen since May 2023 due to tightening markets resulting from falling supply and increased investment demand.
Top five minerals that contributed to revenue were PGMs matte, with 7 027.74 ounces sold generating US$300 million, spodumene, with 349 934 tonnes generating US$132,5 million, high carbon ferrochrome, with 127 983 tonnes realising US$98 million, coke, with 354 176 tonnes raking in US$68 million and diamonds, with 1 906,280.57 carats sold generating US$53 million.
The country exported 86 552 tonnes of steel products. While the figures represent cumulative sales for the period, DISCO began its steel shipments recently and the numbers do not necessarily reflect steel shipments from January.
Although initial exports have commenced with South Africa, contracts have already been secured with firms in the DRC, Zambia, and Mozambique. The shipments to these regional markets are expected to begin shortly, further solidifying Zimbabwe’s re-emergence as a significant steel supplier in southern Africa.
The export sales figures from the MMCZ do not include gold exports, which fall under the purview of Fidelity Gold Refineries, an arm of the Reserve Bank of Zimbabwe (RBZ).
Zimbabwe’s gold deliveries for April 2025 surged to approximately 3,9 tonnes, a substantial 62,5 percent increase from the 2,4 tonnes recorded during the same month last year.
This significant growth was primarily fuelled by a more than doubling of deliveries from small-scale producers, according to Fidelity Gold Refiners, the government’s sole gold buying agency.
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