Africazine:
Zimbabwe is set to significantly boost its gold production, aiming for a target of 220,000 ounces by 2029.
The state-owned Mutapa Gold Resources plans to double its output, having secured million in funding for expansion. In the last fiscal year, the company produced 104,626 ounces, a 10% decline from the previous year due to lower ore quality.
Mutapa Gold Resources’ Expansion Plans
Mutapa Gold Resources, Zimbabwe’s largest gold producer, is embarking on an ambitious project to enhance its production capabilities. The company aims to increase output at the Shamva Hill open-pit mining project to about 80,000 ounces annually, up from approximately 24,000 ounces. Work on this project is set to commence in August, following the securing of local bank funding.
In addition to the Shamva project, Mutapa plans to expand the Gina mine’s production capacity. This phase of the expansion is expected to begin in the fourth quarter of 2026. The company is also focused on improving output at the Frieda Rebecca mine and integrating raw materials from artisanal miners into its operations.
Zimbabwe: Key figures on gold production
- 220,000 ounces target by 2029
- 104,626 ounces produced in the last fiscal year
- 10% decline in production compared to the previous year
- million secured for Shamva Hill project
- 80,000 ounces expected from Shamva Hill annually
- 24,000 ounces current output from Shamva Hill
- 50 metric tons gold production target for this year
- 46.7 tons record production achieved last year
- .19 billion in gold exports during Q1 2026
- 9 million in gold exports during Q1 2025
- .61 billion in gold export revenues in 2025
- .7 billion total exports for Zimbabwe
Future Steps for Gold Production in Zimbabwe
- Commencement of Shamva Hill project in August
- Negotiations with foreign financing institutions for additional funding
- Expansion work at Gina mine expected to start in Q4 2026
Zimbabwe’s gold production is on a path of significant growth, showcasing the nation’s commitment to enhancing its mining sector.
