Story by Tichaona Kurewa
VICTORIA FALLS – GOLD producers have endorsed government’s ambitious target of producing 100 tonnes of gold annually, describing the goal as realistic and achievable.
The sector now contributes over 30% to the mining industry’s GDP.
Its share of total mineral exports has also grown significantly from 27% in 2020 to 43% in 2024.
This optimism was echoed at the Zimbabwe Annual Gold Mining Symposium, held in Victoria Falls this Thursday.
Delegates heard that reaching the 100-tonne milestone will require an estimated one billion United States dollars in ramp-up and sustenance capital, but remains within reach.
“The government has set an ambitious target of producing 100 tonnes of gold annually. With the right policies in place, we believe this goal is achievable. These include, among others, ensuring uninterrupted electricity supply at competitive tariffs. Unlike base mineral operations, most gold mines in Zimbabwe, particularly small-scale ones, are not connected to dedicated power lines. Publicly available data shows that over 60% of gold output comes from the Artisanal and Small-Scale Mining (ASM) sector, which unfortunately continues to operate without a reliable power supply. One can only imagine how much more the sector could contribute if adequately supported,” Chamber of Mines president, Mr Thomas Gono said.
Zimbabwe Miners Federation and Kuvimba Mining House share the optimism.
“It is achievable. Kuvimba is currently producing around 3.6 tonnes annually. Through further exploration and development, we can increase this output. We believe 40 tonnes this year is realistic, and the long-term goal of 100 tonnes is attainable. From our side, we plan to double production up to around seven to eight tonnes per year which will significantly contribute to the national target,” GCEO, Kuvimba Mining House, Mr Trevor Barnard said.
“This goal is quite feasible especially if small-scale miners work hand-in-glove with large-scale operators. We now realise the importance of collaboration. Many large-scale miners own vast tracts of land. If we establish mutually beneficial agreements through tributing and revenue sharing it will strengthen the sector. A symbiotic relationship is key. Once trust and cooperation are built, achieving 100 tonnes annually becomes a very realistic prospect,” Zimbabwe Miners Federation president, Ms Henrietta Rushwaya said.
Zimbabwe’s gold production rose from 32.4 tonnes in 2023 to 38.5 tonnes in 2024.
Gold mining accounts for 57% of formal employment in Zimbabwe’s mining sector, with more than 1.5 million people directly and indirectly engaged in gold-related activities across the country.
