Zimbabwe's mineral sales have passed US$5 billion so far this year, more than double the same period in 2025, according to new figures from the Minerals Marketing Corporation of Zimbabwe (MMCZ).

Sales marketed through MMCZ reached US$5.013 billion between 1 January and 27 October 2026, up 107.9% from US$2.411 billion a year earlier, The Herald and Mining Zimbabwe both reported. Mining Zimbabwe said the numbers come from an MMCZ trading update released after the corporation's annual general meeting.

Lithium and platinum lead the way

Lithium products brought in US$2.310 billion, or 46.1% of the total, Mining Zimbabwe reported, with spodumene concentrate alone worth about US$1.92 billion. The Herald said spodumene sales were up 382.6% on last year, and petalite concentrate sales rose to US$190 million.

Platinum group metals (PGMs) added US$1.793 billion. Together, lithium and PGMs made up 81.9% of all sales, according to Mining Zimbabwe.

The Herald also reported steel sales of about US$208 million and high-carbon ferrochrome of US$286.54 million. It said processed products, including lithium sulphate, ferrochrome, steel and PGM matte, made up about US$1.99 billion of the total.

"Doubling mineral sales to more than US$5 billion is a significant milestone for Zimbabwe's mining sector," MMCZ general manager Dr Nomsa Moyo said, as quoted by The Herald. "Lithium and platinum group metals have been the main engines of this growth, and the first sales of lithium sulphate show what value addition can deliver for the country."

What the figures leave out

The totals don't include gold or silver. Those are sold through Fidelity Gold Refinery, the Reserve Bank's refining arm, not MMCZ. The figures also run only to 27 October, so they aren't a full-year result.

Earlier this month, NewZimbabwe reported MMCZ figures of US$4.735 billion for the first nine months of the year, when lithium first overtook PGMs as the biggest earner. October's sales so far came to US$287.12 million, The Herald said.

Why it matters

Mining is Zimbabwe's biggest source of foreign currency. The Herald says it makes up more than 70% of export earnings. Those dollars pay for imports the country relies on, from fuel to machinery.

The outlook is less certain, though. Both outlets report that MMCZ expects lithium prices to stay soft as Chinese production recovers. The Herald said MMCZ described prices for the rest of the year as harder to predict than shipment volumes. A drop in prices could quickly cut into earnings even if volumes keep rising.

For families at home and in the diaspora, the numbers show how much the economy now depends on a few minerals, and on prices set far from Zimbabwe.

Sources: The Herald, 30 Oct 2026: https://www.heraldonline.co.zw/zimbabwes-mineral-exports-more-than-double-to-us5bn/ · Mining Zimbabwe, 29 Oct 2026: https://miningzimbabwe.com/mineral-sales-through-mmcz-more-than-double-to-us5-billion/ · NewZimbabwe (background, nine-month figures): https://www.newzimbabwe.com/mineral-exports-surge-to-us4-7bn-as-lithium-takes-lead/

Related: Zimbabwe's mining earnings near US$10bn in nine months as lithium overtakes platinum metals