Mineral Sales Soar by 79 percent

Itai Mazire

Zimbabwe’s mining sector has achieved an unprecedented surge in the first quarter of 2026, with total mineral sales rocketing to USD 983.85 million, marking a staggering 79 percent increase in value compared to the same period in 2025.

This remarkable performance, driven by a bold government ban on unbeneficiated mineral exports, positions the Minerals Marketing Corporation of Zimbabwe (MMCZ) firmly on track to exceed its annual revenue projection of USD 3.5 billion.

Dr. Nomusa Jane Moyo, the MMCZ General Manager, provided insights into the corporation’s outstanding performance and the strategic impact of recent policy decisions.

“The first quarter of 2026 marked a defining moment in Zimbabwe’s mineral governance, with total minerals sales reaching 1,288,761 metric tonnes valued at USD 983.85 million, surpassing 2025 volumes by 27 percent and values by 79 percent,” said Dr. Moyo.

She further elaborated on the strategic importance of the new policies.

“Government’s ban on lithium concentrates exports, while producing short-term disruption to global spot supplies, has solidified Zimbabwe’s strategic influence over the global battery supply chain through domestic processing.

“As a supplier of approximately 15 percent of the spodumene imported into China, Zimbabwe is a critical and vertically integrated partner for the world’s leading battery manufacturers.”

Dr. Moyo also detailed the exceptional growth in specific commodities.

“Lithium recorded the strongest performance during the quarter, with Q1 2026 sales reaching 190,612 metric tonnes valued at USD 68.22 million, representing a remarkable 150 increase in volume and a 254 percent increase in value against the same period in 2025, when sales stood at 76,163 metric tonnes valued at USD 19.25 million,” she said.

Addressing the broader economic impact, Dr. Moyo said, “This exceptional growth is directly attributable to increased production of value-added steel products and the shift to processed products is projected to drive lithium export revenues beyond USD1 billion, significantly amplifying the sector’s contribution to national GDP.”

Regarding other key minerals, Dr. Moyo said Platinum Group Metals delivered an exceptional value performance in Q1 2026.

“PGM collectively contributed USD 543.97 million in export revenue across both concentrate and matte categories, with PGM matte sales at 3,080 metric tonnes valued at USD 352.24 million and PGM concentrate sales at 30,178 metric tonnes valued at US$191.73 million.”

Dr. Moyo highlighted the robust performance in the steel sector.

“Steel delivered one of the most outstanding performances of the quarter, with Q1 2026 sales reaching 240,826 metric tonnes valued at USD 178.64 million, a 2% increase in volume and a 106 percent surge in value against the 224,610 metric tonnes valued at USD 84.19 million recorded in Q1 2025, a compelling demonstration of what beneficiation delivers in practice.”