Fidelity Gold Refinery (FGR) has set an official target of 55 tonnes of gold deliveries for 2027 as Zimbabwe seeks to strengthen formal gold marketing channels, expand refining capacity and increase foreign currency earnings from its top mineral export.
The target forms part of the state-backed refinery’s long-term strategy to position Zimbabwe as a regional precious metals hub while building on record gold production achieved in recent years.
Gold remains the country’s largest foreign currency earner, contributing the bulk of mining export revenues and playing a critical role in supporting the economy.
The 2027 goal follows a steady growth trajectory in gold deliveries through FGR, with formal deliveries rising from 36.48 tonnes in 2024 to a revised target of 45 tonnes in 2025. Industry performance in 2026 has remained strong, with the sector on course to meet or exceed the 50-tonne mark following deliveries of 35.88 tonnes recorded by September.
FGR is counting heavily on continued production growth from artisanal and small-scale miners, who account for approximately 75 percent of gold delivered through formal channels. The refinery has expanded its network of gold buying centres across key mining districts in a bid to improve accessibility and encourage miners to sell through official structures.
The government’s ongoing efforts to curb gold leakages and smuggling are also expected to support the 2027 target.
FGR has intensified collaboration with the Gold Trade Enforcement Unit (GTEU) and the Zimbabwe Anti-Corruption Commission (ZACC) to strengthen compliance, improve traceability and ensure more locally produced gold enters the formal market.
Meanwhile, plans to establish additional refining capacity are expected to ease pressure on existing infrastructure and support higher production volumes.
Authorities have previously announced plans for a new refinery as part of efforts to accommodate rising gold output and enhance Zimbabwe’s value-addition capabilities.
Industry analysts say the success of the 55-tonne target will depend on several factors, including sustained investment in small-scale mining, continued formalisation of the gold trade, favourable international gold prices and stable operating conditions across the sector.
If achieved, the milestone would further cement gold’s position as Zimbabwe’s leading export commodity while boosting foreign currency inflows and strengthening the country’s ambitions to become a major regional player in precious metals refining and trading. 
