Speaking during the annual Chamber of Mines of Zimbabwe conference - an official partner event of African Mining Week (AMW) - Qubeka Nkomo, Chairman of the Gold Producers Committee at the Chamber of Mines of Zimbabwe, said the projected increase follows a record year in 2025, when gold output rose 31% from 38.6 metric tons in 2024 to 50.6 metric tons.

"In the medium term, we see favorable prices and ongoing expansion projects such as Mazowe Mine and Kavango Resources' Filabusi Project driving production growth," stated Nkomo.

Zimbabwe forecasts gold export revenues of approximately $5 billion in 2026, up from $4.6 billion in 2025 and nearly double the $2.5 billion generated in 2024, reinforcing gold's position as the country's largest mineral export.

In 2025, the metal accounted for 54% of mining export earnings and almost 44% of total national exports, according to Chamber of Mines of Zimbabwe CEO Isaac Kwesu. The sector employs 18,000 formal workers and 500,000 artisanal/small-scale miners, with nearly two million Zimbabweans relying on gold-related activities for their livelihoods.

Despite the strong production outlook, industry leaders present at the Chamber of Mines conference agreed that sustaining long-term growth will require fresh investments in exploration.

Permanent Secretary for the Ministry of Mines and Mining Development Thomas Utete Wushe highlighted Zimbabwe's estimated six million hectares of largely unexplored prospective ground as one of the country's greatest opportunities to increase future production.

"We can confirm our sovereignty through gold and mining. Fifty tons is not the best we can do. We have six million hectares of land that can easily support production of 100 tons through increased exploration," Wushe said.

Meanwhile, Patrick Maseva-Shayawabaya, CEO of Kuvimba Mining House, stressed that Zimbabwe's next phase of growth will depend on integrating the artisanal mining sector into the formal economy.

"The future will not be sustained by our current operations alone but through new exploration and by bringing artisanal and small-scale miners, who account for around 60% of national production, into the formal sector," he said.

While strong gold prices, robust global demand and vast untapped mineral potential continue to attract investor interest, industry leaders warned that structural challenges could constrain future production if left unresolved. Nkomo identified high capital requirements for greenfield developments, unreliable electricity supply and foreign currency shortages as some of the most significant obstacles affecting mine expansion.

"Power supply to gold projects remains fragile, with many operations not connected to the national grid and experiencing load shedding that disrupts production. Foreign currency shortages continue to delay equipment purchases and plant expansion. Addressing these constraints is essential to improving competitiveness and attracting investment," he said.

As Zimbabwe continues to position its gold sector as a key pillar of economic growth, AMW 2026 will provide a strategic platform for government officials, mining companies, financiers and technology providers to explore new partnerships across the country's gold value chain.

AMW 2026 will feature a dedicated Zimbabwe Country Spotlight, featuring senior policymakers and industry leaders - including Reserve Bank of Zimbabwe Deputy Governor Dr. Innocent Matshe and Chamber of Mines of Zimbabwe CEO Isaac Kwesu. The country spotlight will discuss investment opportunities and the policy reforms needed to unlock Zimbabwe's next phase of gold sector growth.