Zimbabwe set to surpass 50 tonnes gold delivery target

ZIMBABWE is on track not just to meet, but to surpass its 50-tonne gold delivery target for the year, as deliveries to Fidelity Gold Refinery had already reached 35.88 tonnes by the end of September 2026.

With just 14.12 tonnes required to hit the baseline target, projections indicate this goal will be exceeded in the remaining months of the year.

To meet the 50-tonne mark, monthly deliveries through December need to average 4.71 tonnes—an 18 percent increase over this year’s average of 3.99 tonnes. However, given the robust September figure of 4.72 tonnes, there is a strong indication that Zimbabwe will deliver well above its minimum target, according to industry trends.

Mines and Mining Development Minister Polite Kambamura shared his confidence in the country’s trajectory:

“It is almost three months to go before the year comes to an end, and what we are witnessing is another record-breaking year for gold deliveries that are being sustained as a result of fiscal and monetary reforms. At 36 tonnes already, the trend is just promising, and we are confident as a ministry of achieving the set gold production targets come the end of this year; this is largely emanating from interventions being put in place by Government in positioning the yellow metal as a key enabler for growth,” he said.

The typically challenging fourth quarter, when production often slumps due to the rainy season, is expected to see minimal impact this year thanks to delayed rains. This allows artisanal and small-scale miners, who have been responsible for 25.78 tonnes (nearly 72 percent) of total deliveries so far, to maintain momentum.

Quarterly growth has been consistent, climbing from 9.31 tonnes in Q1, to 12.09 tonnes in Q2, and peaking at 14.48 tonnes in Q3. Even under a conservative scenario in which monthly output averages about four tonnes for the rest of the year, Zimbabwe’s total could reach 47.8 tonnes—well above last year’s record of 46.7 tonnes.

Given these trends and continued strong output, all indications are that Zimbabwe will not only reach the 50-tonne gold delivery threshold but is poised to surpass it, reinforcing gold’s pivotal role as the country’s principal export and key foreign-currency generator.

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