Zimbabwe’s platinum boom: Where is the wealth?
Summary
Zimbabwe’s mining sector earned a record $8.5 billion in export revenue in 2025, with gold and platinum-group metals helping drive the increase. In communities near major platinum operations, residents say roads, schools, water services and local livelihoods have not kept pace with mining activity.Key Facts
- Platinum reached $2,923 an ounce on January 26, according to the World Platinum Investment Council.
- Zimbabwe has the world’s second-largest known deposits of platinum-group metals, after South Africa.
- Mining accounts for about 75 percent of Zimbabwe’s exports and 14.5 percent of its gross domestic product, according to the U.S. International Trade Administration.
- The mining sector’s export earnings rose from $5.9 billion in 2024 to $8.5 billion in 2025, according to the Chamber of Mines of Zimbabwe’s then-president, John Musekiwa.
- Zimplats operates mines, concentrators and processing facilities in the Mhondoro-Ngezi district, on the Great Dyke mineral belt.
- A local councillor said some children walk 15 to 25 kilometres to reach Musinambi Secondary School and called for a satellite school in Makwavarara.
- Residents near the mining area said that infrastructure and basic services have not kept pace with the area’s growth.
- Residents alleged that sewage from the mining area entered the Ngwazani River; the article excerpt does not provide a response from the mining company or verification of the claim.
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