Harare, (New Ziana) – The Minerals Marketing Corporation of Zimbabwe (MMCZ) recorded a strong performance in the financial year ended December 31 last year, with mineral exports reaching US$3.4 billion, representing a 14 percent increase in value compared to the previous year.
In its Financial Year 2025 performance update, the MMCZ reported cumulative mineral sales of 4.89 million metric tons, surpassing both budget and prior-year figures.
The volumes exceeded targets by three percent, while export revenues were six percent above projections, underlining improved market conditions and operational efficiencies.
Compared to FY2024, when Zimbabwe exported 3.03 million metric tons valued at US$2.9 billion, FY2025 exports reflected a significant 61 percent growth in volume and a 14 percent rise in value.
MMCZ general manager Dr Nomusa Moyo attributed the positive performance to a rebound in prices of key minerals, particularly Platinum Group Metals (PGMs), as well as enhanced export processing efficiencies.
“Growth in value was driven mainly by improved prices for major revenue-generating minerals, especially PGMs. However, gains were partly constrained by lower rough diamond sales, subdued diamond prices and stiff competition in the coke market, which forced strategic price adjustments,” he said.
PGMs remained the backbone of export earnings, with PGM matte sales surging by 71 percent in value to US$1.5 billion, supported by firm global prices for platinum, palladium and rhodium. While direct exports of PGM concentrates declined, this was largely due to a strategic shift towards downstream beneficiation through toll-processing arrangements.
Lithium continued to strengthen Zimbabwe’s mineral export profile, with sales generating US$571.6 million after outperforming volume and revenue targets. Ferro-alloys also posted solid growth, earning US$372 million, driven mainly by high carbon ferrochrome exports.
Steel exports recorded one of the most notable gains, with revenues rising sharply to US$92.1 million, a more than fourfold increase from the previous year, reflecting growing demand and improved market penetration.
Looking ahead, Dr Moyo said the MMCZ has set a US$3.5 billion revenue target for 2026, anchored on a positive outlook for PGMs amid global supply constraints and rising demand from hydrogen energy, industrial and jewellery markets. Lithium prices are also expected to recover as demand from electric vehicles and energy storage systems strengthen.
“The outlook for coal and metallurgical minerals remains firm, positioning Zimbabwe’s mining sector for sustained export growth in the medium term,” he said.
