Zimbabwe’s latest mineral sales report paints a mixed picture—volumes are up, but lower commodity prices have weighed heavily on earnings. But there’s a bright spot: steel has returned to the country’s export list for the first time in many years.
Mineral exports—excluding gold—grew by 16% in volume during the first quarter of 2025, but earnings fell 27%, dragged down by weak platinum prices and lower production from key players, according to the latest figures from the Minerals Marketing Corporation of Zimbabwe (MMCZ), which markets minerals outside of gold.
The country exported 1,021,296 metric tonnes of minerals worth US$555.2 million in Q1 2025, compared to 883,301 metric tonnes worth US$758.7 million in the same period in 2024.
The MMCZ data also shows a key development: Zimbabwe steel exports. This comes after Dinson Iron and Steel Company, a subsidiary of Tsingshan, started production in June 2024 at its new plant in Manhize, near Chivhu. The company currently produces up to 300 tonnes of deformed bars daily, sold to local customers and the export market. It plans to ramp up output to 600,000 tonnes per year under its first phase.
In Q1 2025, Zimbabwe exported 76,163 tonnes of steel. Zimbabwe has relied on imported steel since the collapse of Ziscosteel in 2008.
The overall increase in export volumes was driven by:
Coal (+63%)
Coke (+58%)
Chrome ore (lumpy) (+53%)
Copper concentrates (+117%)
High carbon ferrochrome (+25%)
Scrap (+37%)
Steel (new contributor)
Lower platinum prices and domestic production cuts undermined mineral earnings. Zimplats’ planned processing of Mimosa output has been delayed, while Unki’s production has dipped due to power shortages.
Top Q1 mineral export earners:
Platinum matte: 4,762 oz – US$208.4 million
Lithium spodumene: 244,414 tonnes – US$83.5 million
Ferrochrome: 98,129 tonnes – US$73.4 million
Coke: 264,331 tonnes – US$51.8 million
PGM concentrates: 15,250.8 tonnes – US$48.7 million
(NewZWire)
