Bulawayo (New Ziana) – The mining sector in Zimbabwe is expected to register a 2 percent increase in revenue generation this year to US$5.5 billion, with projections indicating a surge to around $6 billion next year on the back of improved output and recovery in commodity prices, the Chamber of Mines of Zimbabwe (COMZ) has said.
Presenting the Mining Industry Prospect for 2025, which included insights from the State of Mining Industry Survey Report on Monday, COMZ president Thomas Gono highlighted the ongoing discussions among stakeholders regarding the sector’s contribution to socio-economic development.
“Recent growth and prominence of the mining industry continue to generate debate among key stakeholders regarding the sector’s contribution to the socio-economic development of the country,” he said.
“Mineral revenue in the mining sector is expected to increase by approximately two percent in 2024 and by around 10 percent to approximately $6 billion in 2025, driven by improved output and anticipated commodity price recovery.”
Gono said infrastructure and energy challenges however remain a concern, with the measured index for infrastructure prospects for 2025 standing at -5.3.
“This means that the mining executives are expecting the infrastructure and energy to worsen in 2025 on the back of increasing demand and prospects for and increasing tariffs in 2024,” he said.
He also noted that capacity utilization is projected to reach 90 percent in 2025, up from 84 percent this year, with key sectors such as gold, ferrochrome, and platinum group metals (PGMs) expected to drive the improvement.
Gono added that The Mining Business Confidence Index (MBCI) for 2025 appears positive at +5.4, reflecting optimism among mining executives regarding their business prospects.
“The positive MBCI is driven by factors such as the commodity market outlook and overall growth in the mining industry,” he explained.
Despite the positive indicators, Gono warned that access to foreign currency is expected to deteriorate in 2025, with a measured index of -29.4.
“Mining executives have reported difficulties in securing adequate foreign currency to meet their operational needs,” he said.
On a positive note, Gono said employment in the mining sector is projected to grow, with formal employment expected to rise by around 3 percent in 2025, reaching approximately 58 700 people, up from 57 000 in 2024.
“This indicates a general optimism among mining executives regarding increasing employment numbers in the sector,” he added.
Turning to the survey report, Gono emphasized its importance as an evidence-based study that provides valuable insights into the state and prospects of the mining sector.
“We believe this report will continue to be a vital resource for all stakeholders. The Chamber remains committed to collaborating with the Ministry of Mines and Mining Development and other government entities to maximise the industry’s contribution to the socio-economic development of the country,” he said.
New Ziana
