5 days ago
Zimbabwe's mining laboratories get overwhelmed amid gold price surge
Zimbabwean laboratories are struggling to keep pace with a wave of mineral samples from mines, accelerating exploration on the back of record gold prices.
Gold prices hit a record high of $3,500 an ounce, boosting global exploration efforts.
Zimbabwe's gold production rebounded significantly after years of economic and political challenges.
Mining companies are facing delays in laboratory analysis due to increased activity.
Zimbabwean laboratories are struggling to keep pace with a wave of mineral samples from mines, accelerating exploration on the back of record gold prices.
Gold hit an unprecedented $3,500 an ounce in April, driven by geopolitical tensions, central bank stockpiling, and, more recently, economic uncertainty stoked by U.S. President Donald Trump's tariffs.
Even Zimbabwe, where gold output had slumped after decades of political and economic turmoil, has staged a sharp rebound. The central bank has resumed issuing gold coins after a 10-month suspension, showing renewed confidence in the sector.
Production reached 24.3 metric tons in the first seven months of 2025, up 40% from the same period a year earlier.
Annual output is now forecast to exceed 40 metric tons, setting a new record and marking a dramatic recovery from just 3 tons in 2008.
Laboratory delays slow exploration work
Craig Harvey, Vice President for Technical Services at Caledonia Mining Corp., one of the country's largest gold producers, said the company is facing delays in receiving results from accredited local laboratories, according to a Reuters report.
"It is very frustrating for us, but in the Zimbabwe context, that's very encouraging," Harvey said.
Caledonia's net profit surged to $34.8 million in the first half of the year, from $12.25 million a year earlier, lifted by higher production and a 40% jump in the average gold price.
