Zimbabwe loses millions from gold smuggling despite seeing huge price gains this year. Mining boss Chitando talked about these problems at a recent workshop in Harare. Criminals steal about 1.9 tons of gold each month from the country. According to officials, this illegal trade costs Zimbabwe around $100 million monthly. The UK market tracker shows gold prices went up 40% to $3,338 per ounce.
Zimbabwe delivered 8.5 tons of gold in early 2025, beating the target of 7 tons. The country sold 3.13 tons in January, 2.56 tons in February, and 2.79 tons in March. Small miners dig up most of the gold with 2.27 tons in January, 1.64 tons in February, and 1.86 tons in March. These small operations make up about 68% of all gold production in Zimbabwe.
Gold moves easily across borders because it is high value but small in size. The United Arab Emirates and South Africa receive most of the smuggled gold from Zimbabwe. The government wants to help small miners through better training and fair markets. A 2020 study found Zimbabwe might lose $1.5 billion every year from gold smuggling.
Zimbabwe delivered 8.5 tons of gold in early 2025, beating the target of 7 tons. The country sold 3.13 tons in January, 2.56 tons in February, and 2.79 tons in March. Small miners dig up most of the gold with 2.27 tons in January, 1.64 tons in February, and 1.86 tons in March. These small operations make up about 68% of all gold production in Zimbabwe.
Gold moves easily across borders because it is high value but small in size. The United Arab Emirates and South Africa receive most of the smuggled gold from Zimbabwe. The government wants to help small miners through better training and fair markets. A 2020 study found Zimbabwe might lose $1.5 billion every year from gold smuggling.
