Zimbabwe delivers 26 tonnes of gold in seven months as June peaks

Zimbabwe delivered 26.05 tonnes of gold to Fidelity Gold Refinery in the first seven months of 2026, up from 24.31 tonnes in the same period of 2025, according to figures reported on 14 August.

Small-scale and artisanal miners supplied 18.4 tonnes, or 70.6% of the total, while primary producers contributed 7.64 tonnes. The year's strongest month so far was June, when deliveries reached 4.81 tonnes, made up of 3.58 tonnes from small-scale miners and 1.22 tonnes from primary producers.

On track, but with work to do

The government's target for 2026 is 55 tonnes. The seven-month total puts Zimbabwe slightly ahead of last year's pace, but reaching the target would require average deliveries of about 5.8 tonnes a month from August to December, well above anything achieved so far this year. Mining Zimbabwe noted separately that national output in 2025 reached 46.7 tonnes, of which small-scale miners delivered 34.9 tonnes, so the 2026 goal implies growth of almost 18%.

The data show why officials are keen to build up the large-scale segment. Industrial mines contribute less than a third of deliveries but provide more consistent volumes. Projects such as Caledonia Mining's Bilboes development and expansions at existing operations are expected to raise their share over the next few years.

Tightening the supply chain

Fidelity Gold Refinery, led by general manager Peter Magaramombe, has also been working with the Zimbabwe Anti-Corruption Commission, whose executive secretary is Shepherd Manhivi, to strengthen governance and transparency in the gold supply chain. With so much of the country's gold coming from thousands of small operators, leakage to informal buyers and smuggling are persistent concerns, and every kilogram that bypasses the refinery is lost to official export and reserve statistics.

Gold remains Zimbabwe's biggest foreign currency earner and a key support for the gold-backed Zimbabwe Gold currency, so the pace of deliveries feeds directly into the country's macroeconomic stability.

The second half will determine whether 2026 becomes another record year. Historically high prices give small-scale miners a strong incentive to sell through official channels, but sustaining the June peak through the final months of the year will be difficult.

Sources

• Bulawayo24 News: Zimbabwe gold deliveries hit 26 tonnes in 7 months, 14 Aug 2026
• Mining Zimbabwe: Zimbabwe Gold Deliveries Slip in July 2026 Amid Monthly and Year-on-Year Declines, 17 Aug 2026

Photo: A ball mill and stamp mill at a gold ore processing centre in Shamva, Zimbabwe. Kevin Walsh from Oxford, England, Wikimedia Commons, CC BY 2.0.