Zimbabwe’s mining industry is expected to remain a major source of export earnings in 2026, with mineral exports projected to reach between US$8.8 billion and US$9.5 billion by the end of the year, latest data shows.

According to the latest data from the government, the positive outlook is being supported by firm international gold prices, steady demand for strategic minerals and growing efforts to process more minerals locally.

Gold is expected to remain the country’s leading mineral export earner, with prices on international markets providing support to revenues.

The sector’s performance will also be underpinned by platinum group metals, ferrochrome, chrome products, as well as iron and steel.

Zimbabwe’s drive towards beneficiation is increasingly changing the structure of the mining industry, with producers moving beyond the export of raw minerals towards processing and value addition.

This has the potential to generate higher export revenues while creating more opportunities across the local industrial value chain.

However, the projected growth is not without risks.

A drop in international commodity prices could put pressure on export earnings, while electricity shortages remain a concern for mining companies, particularly those involved in energy-intensive processing activities.

The diamond industry is also facing weaker demand in some markets, which could weigh on overall mineral export performance.

Industry growth will therefore depend heavily on investment in new mining and processing capacity, alongside improvements in electricity supply.

Greater investment in beneficiation will also be critical if Zimbabwe is to capture more value from its mineral wealth instead of exporting largely unprocessed commodities.

At the same time, expanding production beyond traditional minerals and developing deposits of strategic and critical minerals could help reduce the sector’s exposure to fluctuations in individual commodity markets.

With gold prices remaining supportive and investments in processing gathering pace, Zimbabwe’s mining sector is expected to remain a key pillar of the economy and a major contributor to foreign currency earnings through the end of 2026.