The country’s mineral export earnings rose sharply in 2025 with the Minerals Marketing Corporation of Zimbabwe (MMCZ) recording sales worth US$3.4 billion driven by improved global prices, stronger demand for platinum group metals and higher lithium exports.
In a statement, MMCZ said cumulative mineral sales for the year ended 31 December 2025 reached 4.89 million metric tonnes exceeding both budget projections and the previous year’s performance.
The corporation said export volumes were 3% above target, while revenues surpassed projections by 6%. Compared with 2024 mineral export volumes increased by 61%, while export value rose by 14%, reflecting what MMCZ described as a combination of improved market conditions and operational efficiencies.
MMCZ general manager Dr Nomusa Jane Moyo said the growth was largely underpinned by a rebound in prices for key minerals, particularly platinum group metals (PGMs).
“Value growth, however, was partially constrained by lower rough diamond sales volumes, depressed diamond prices and heightened competition in the coke market, which necessitated strategic price adjustments to maintain market share,” she said.
PGMs remained the largest contributor to export earnings.
Sales of PGM matte surged by 71% in value, reaching US$1.5 billion supported by firm global prices for platinum, palladium and rhodium.
By contrast, exports of PGM concentrates declined sharply as producers shifted towards downstream beneficiation, reducing direct concentrate exports MMCZ said.
Lithium also emerged as a major growth area. Sales reached 1.52 million metric tonnes generating US$571.6 million exceeding volume targets by 33% and revenue targets by 10% amid sustained demand from the global battery market.
Ferro-alloy exports including high-carbon ferrochrome, rose by 11% in value to US$372 million, while chrome concentrate revenues fell by 12% due to weaker prices, despite stable export volumes.
Steel exports recorded one of the most dramatic increases with sales jumping to US$92.1 million more than four times the value recorded in 2024.
Looking ahead, MMCZ has set a US$3.5 billion revenue target for 2026 citing a positive outlook for PGMs continued global demand for steel inputs and a projected recovery in lithium prices as electric vehicle and energy storage markets expand.
The state-owned miner said the diamond market was expected to remain uneven with strong demand for large, high-quality stones offset by continued pressure on smaller goods.
MMCZ is mandated to market and sell all of Zimbabwe’s minerals excluding gold and silver and says the latest performance supports the country’s broader economic growth ambitions under Vision 2030
