HARARE (Reuters) -Zimbabwean laboratories are struggling to cope with a surge in mineral samples submitted by mines ramping up exploration activity in response to record gold prices, a mine executive said on Wednesday.
Geopolitical tensions, central bank buying and, lately, economic uncertainty fueled by U.S President Donald Trump’s tariffs drove gold prices to a record high of $3,500 an ounce in April.
Even countries such as Zimbabwe, where gold production had slumped after decades of political and economic upheaval, have registered a rebound in output as companies ramp up production and new investors pour in.
The southern African country’s gold output rose to 24.3 metric tons in the first seven months of 2025, a 40% increase compared to the same period last year. Output for the year is expected to exceed 40 metric tons, a new record and a remarkable turnaround from only 3 tons in 2008.
One of the top gold producers in Zimbabwe, Caledonia Mining Corp, has experienced delays in getting samples from its exploration activities back from accredited laboratories in the country, Craig Harvey, the company’s Vice President for Technical Services, told analysts.
“It is very frustrating for us, but in the Zimbabwe context that’s actually very encouraging,” Harvey said.
“There are a number of other companies on the scene and quite clearly this higher gold price environment has pulled the trigger on exploration. This bodes well for Zimbabwe, which is completely under-explored,” he added.
Caledonia’s profit surged to $34.8 million in the six months to June 30, compared with $12.25 million previously, thanks to higher production and a 40% increase in the average gold price.
CEO Mark Learmonth told analysts that the company was working on options that would minimise equity dilution or impacting the company’s dividend policy when raising capital to develop its Bilboes project into potentially Zimbabwe’s biggest gold mine.
(Reporting by Nelson Banya; Editing by Alexandra Hudson)
