Zimbabwe is positioning itself for a significant rise in gold production in the coming years as several large-scale mining projects advance across the country. The renewed momentum comes at a time when global gold prices have surged sharply this year, strengthening investor interest and improving the economic viability of new developments. Caledonia Mining Corporation is leading the wave of expansion with plans to commission its second Zimbabwean operation, the Bilboes Mine, by the end of 2028. A recent feasibility study shows the mine could produce around 1.55 million ounces of gold over nearly eleven years, with output expected to reach about 200,000 ounces in its first full production year in 2029.
At the same time, Namib Minerals has begun preparatory work to revive the Mazowe and Redwing mines, both of which have been idle since 2019. The company estimates that restarting the operations will require between US $300 million and US $400 million, and targets eventual production of up to 300,000 ounces annually from its portfolio. British explorer Ariana Resources is also pushing ahead with its Dokwe Gold Project, where earlier studies indicated potential output of roughly 65,000 ounces per year over a 13-year lifespan. The firm is currently updating those projections through a definitive feasibility study.
These developments come as Zimbabwe recorded about 38.4 tons of gold production in 2024, a figure still dominated by artisanal and small-scale miners. Mining remains one of the country’s most critical export drivers, contributing US $5.56 billion in export earnings last year. With industrial-scale projects now advancing, the sector is expected to shift toward more stable long-term production, potentially boosting national output and strengthening foreign-currency inflows.
However, the outlook is not without challenges. Major projects such as Bilboes require substantial capital, with Caledonia alone needing to secure roughly US $484 million for development. Policy uncertainties, infrastructure constraints, and fluctuating operating conditions also present risks that could affect timelines and profitability. Despite these obstacles, the combination of rising global gold prices and renewed investor activity has revived optimism in Zimbabwe’s mining landscape, with industry observers expecting output to climb steadily as new mines come onstream.
