Zimbabwe recorded sales of over four million tonnes of minerals in 2024, excluding gold and silver, as production increased despite global commodity price fluctuations.
The newly appointed General Manager of the Minerals Marketing Corporation of Zimbabwe (MMCZ), Dr. Nomusa Moyo, confirmed that while sales volumes rose, overall revenue was affected by depressed international prices. However, she noted that a recent recovery in the last quarter was mainly driven by the platinum sector.
“For some time, mineral revenues were under pressure, but we have seen a recovery, particularly in the platinum sector. Other minerals such as diamonds, lithium, chrome, and coal are also playing a significant role in Zimbabwe’s resource extraction industry,” said Dr. Moyo.
She further highlighted that the MMCZ is focusing on external market diversification to sustain growth in mineral sales.
“Our priority is to identify and secure new markets that can maximize revenue generation. As the authorized selling agent for most minerals, our responsibility is to ensure that the mining sector remains the backbone of Zimbabwe’s economic growth,” she added.
Zimbabwe’s mining industry continues to drive foreign exchange earnings, contributing over 70% of the country’s annual receipts. The sector is also expected to be a key pillar in achieving Zimbabwe’s Vision 2030 goal of becoming an upper-middle-income economy.
