Zimbabwe just had a huge gold rush! Gold makers brought in 8,496 kilos during early 2025, beating last year by over 40 percent, when they only made 6,044 kilos. The small miners did most of the work, handing over 5,770 kilos all by themselves. Big companies lagged behind, with just 2,725 kilos during these three months. Fidelity Gold Refineries shared these numbers, showing how much the little guys matter.
The big mining companies spend lots of money on fancy equipment but still make less gold. Small miners use basic tools but somehow dig up most of the yellow metal. Many reasons explain this success story. More people have started small mining jobs recently. These miners formed better groups to work together. The government helped them become legal businesses. Gold prices shot up, making everyone rush to find more shiny stuff.
Gold brings more money to Zimbabwe than anything else the country sells abroad. Last year alone, gold sales earned the country $2.4 billion. Old mines started working again after people put money into fixing them up. The government began paying small miners faster, which made them sell through official channels instead of sneaky back doors. Higher prices made everyone want to dig more gold from the ground.
Gold prices just hit their highest point ever! One ounce of gold costs $3,167 these days. Gold value jumped up 16 percent since January alone. Market experts say the previous record from 1980 equals about $3,486 in today's money. Tuesday showed gold selling for $3,000 per ounce. Last year, Zimbabwe produced more gold than expected, breaking its previous record from 2022.
The central bank chief, Dr. John Mushayavanhu, says money backing the ZiG currency keeps growing stronger. Foreign reserves reached $629 million by March 2025, way up from $276 million last April. Dr. Mushayavanhu told Bloomberg these reserves can cover all ZiG money in banks right now. The ZiG money replaced the old Zimbabwe dollar last April when that money kept losing value fast. These strong reserves should keep the ZiG stable for everyone using it.
The big mining companies spend lots of money on fancy equipment but still make less gold. Small miners use basic tools but somehow dig up most of the yellow metal. Many reasons explain this success story. More people have started small mining jobs recently. These miners formed better groups to work together. The government helped them become legal businesses. Gold prices shot up, making everyone rush to find more shiny stuff.
Gold brings more money to Zimbabwe than anything else the country sells abroad. Last year alone, gold sales earned the country $2.4 billion. Old mines started working again after people put money into fixing them up. The government began paying small miners faster, which made them sell through official channels instead of sneaky back doors. Higher prices made everyone want to dig more gold from the ground.
Gold prices just hit their highest point ever! One ounce of gold costs $3,167 these days. Gold value jumped up 16 percent since January alone. Market experts say the previous record from 1980 equals about $3,486 in today's money. Tuesday showed gold selling for $3,000 per ounce. Last year, Zimbabwe produced more gold than expected, breaking its previous record from 2022.
The central bank chief, Dr. John Mushayavanhu, says money backing the ZiG currency keeps growing stronger. Foreign reserves reached $629 million by March 2025, way up from $276 million last April. Dr. Mushayavanhu told Bloomberg these reserves can cover all ZiG money in banks right now. The ZiG money replaced the old Zimbabwe dollar last April when that money kept losing value fast. These strong reserves should keep the ZiG stable for everyone using it.
