Mineral exports surge to US$4.7bn as lithium takes lead

Zimbabwe’s mineral export sales more than doubled to US$4.735 billion in the first nine months of 2026, with lithium overtaking platinum group metals (PGMs) as the country’s biggest revenue earner, the Minerals Marketing Corporation of Zimbabwe (MMCZ) has said.

The figure represents a 101.8% jump from US$2.347 billion recorded during the same period last year, with export volumes also rising 23.4% to 4.738 million tonnes.

Presenting the latest figures on the sidelines of a media workshop and tour facilitated by MMCZ and Zimbabwe Environmental Law Organisation (ZELO) in Masvingo, MMCZ general manager Nomusa Moyo said lithium sales had reached US$2.159 billion, accounting for 45.6% of total mineral export earnings.

PGM sales stood at US$1.729 billion, giving lithium a lead of about US$430 million.

“Lithium has overtaken Platinum Group Metals as the leading revenue earner in the reported period,” Moyo said.

Spodumene was the standout performer, generating US$1.812 billion, a massive 368.2% increase from last year as its average realised price climbed to US$1,483 per tonne from US$387.

Petalite sales jumped 583.3% to US$155.29 million, while newly recorded lithium sulphate sales contributed another US$190.52 million from 33,807 tonnes.

Moyo said the lithium surge reflected growing investment in beneficiation, with processing beginning to make a measurable contribution to export earnings.

“Lithium sulphate sales alone generated 190.52 million dollars. This demonstrates the contribution that further processing is beginning to make to export earnings,” she said.

PGM earnings also strengthened, with matte sales rising 31.6% to US$1.263 billion and concentrate sales climbing 69.8% to US$465.56 million.

September alone generated US$685.03 million in mineral exports, up 116.6% year-on-year, while monthly volumes surged 70.8% to about 844,633 tonnes.

MMCZ attributed the broader growth to higher commodity prices, increased production, new markets, greater beneficiation and efforts to curb mineral leakages.

Moyo said the corporation expected commodity prices to remain significantly above 2025 levels in the final quarter, although market conditions would vary across minerals.

“Commodity prices are projected to stay significantly higher than 2025 for the fourth quarter of 2026,” she said.

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