Harare, (New Ziana) – Zimbabwe has licensed a second gold refinery that will be situated in Bulawayo, in a move expected to significantly expand gold-processing capacity and support continued growth in the mining sector, the government has said.
Posting on its National Development Strategy 2 (NDS2) X handle on Monday, the government said the new refinery is scheduled to commence operations in 2027, and comes at a time when gold production is reaching record levels, placing increasing demand on existing refining infrastructure.
“The new facility is aimed at expanding the country’s gold-processing capacity as national production continues to reach record levels. Currently, most of Zimbabwe’s gold is refined through the state-owned Fidelity Gold Refinery in Harare. Government officials have indicated that existing refining infrastructure may face capacity constraints as gold output continues to grow,” it said.
It said the country is targeting to produce 50 tons of gold this year, building on the record 46.7 tons achieved last year, adding that the precious metal remains the largest foreign currency earner, generating US$4.61 billion in export earnings in 2025, and a further US$1.19 billion during the first quarter of this year.
The new Bulawayo facility is expected to play a critical role in strengthening the gold value chain by increasing national refining capacity, easing pressure on existing infrastructure, and improving efficiency in gold purchasing, refining and marketing.
The project is also expected to deepen domestic mineral beneficiation and value addition, key priorities in Zimbabwe’s broader economic development strategy.
While officials have confirmed the licensing of the refinery, details regarding the investors behind the project have not yet been made public, with government indicating that additional information will be released once the refinery is formally commissioned.
The development forms part of Zimbabwe’s wider strategy to expand the mining industry and maximise returns from mineral resources through local processing.
It also aligns with ongoing efforts by state-owned Mutapa Gold Resources to accelerate production growth through mine expansions and fresh investment initiatives over the coming years.
For Bulawayo, the establishment of the refinery is expected to reinforce its position as an industrial and mining centre while creating opportunities for downstream economic activity.
Industry observers say the addition of a second refinery represents an important step towards ensuring Zimbabwe captures greater value from its growing gold sector and strengthens its contribution to national economic growth.
New Ziana
