Gold producers in Zimbabwe continue to benefit from firm bullion prices, with Fidelity Gold Refinery (FGR) offering up to US$141.08 per gram for fire-assayed gold today.

The latest figures show that the price paid to producers varies according to the quality and assay category of the gold being sold.

Gold with a specific gravity of 90% and above was being bought at US$140.34 per gram, equivalent to US$4,365.06 per troy ounce.

The local prices come as international gold prices remain elevated, providing a favourable backdrop for Zimbabwe’s gold mining industry.

The strong bullion market is particularly important for Zimbabwe because gold remains a major source of mineral export earnings.

Higher prices allow producers to generate more revenue from existing output, while also improving the economic case for investment in exploration, mining and processing.

The latest price movements also fit into Zimbabwe’s broader push to get more value from its mineral resources.

Rather than relying heavily on the export of raw minerals, the country is seeking to increase processing, beneficiation and refining before minerals leave the country.

The objective is to retain more value locally and create stronger links between mining and other parts of the economy.

Under favourable production and commodity-price conditions, combined gold and Minerals Marketing Corporation of Zimbabwe-facilitated mineral export receipts could approach US$12 billion in 2026, according to the figures presented in the mineral industrialisation outlook.

With gold continuing to command strong prices on international markets, Zimbabwe has an opportunity to use the current cycle to strengthen production while accelerating investment in refining and value addition.

The longer-term test, however, will be whether the country can turn high-value mineral exports into jobs, industrial capacity, increased local production and broader economic growth.

Tuesday’s FGR rates underline the strength of the gold market, with producers of higher-purity gold receiving more than US$140 per gram and fire-assayed gold reaching US$141.08 per gram.