Harare – Zimbabwe gold reserves now stand at three tonnes, President Emmerson Mnangagwa has said after inspecting vaults.
Mnangagwa was showed the gold vaults at the Reserve Bank of Zimbabwe (RBZ) by the central bank chief, John Mushayavanhu.
”This morning, I inspected our gold reserves at the RBZ vaults. Zimbabwe has now surpassed the 3-tonne benchmark, ranking sixth on the continent,” Mnangagwa said.
”As global uncertainties grow, our gold holdings strengthen the foundation of our national currency and economic sovereignty. #GoldReserves #EconomicSovereignty #Zimbabwe.”
In 2024, Zimbabwe achieved record gold production, reaching 36.48 tonnes, exceeding the initial target of 35 tonnes.
This milestone was driven by strong performance from small-scale miners, who contributed approximately 65% of the total output.
In 2023, an Al Jazeera investigative documentary showed how gold smuggled from Zimbabwe makes its way to Dubai and, according to experts in money laundering and illicit trade, is then exported to other major gold hubs like Switzerland and London.