Zimbabwean miners expect profits to decline on the back of anticipated high costs of production and a weak outlook for platinum and lithium in 2025, according to a report.<\/p>\n
A confluence of global and local factors will eat into the southern African country’s mining revenue and profit next year, said the report by the Chamber of Mines of Zimbabwe (COMZ).<\/p>\n
Zimbabwe is known for abundant deposits of platinum group metals (PGMs), gold and lithium.<\/p>\n
“The issue of costs continue to dampen the spirit of profitability,” said Isaac Kwesu, COMZ’s chief executive.<\/p>\n
Costs of production are expected to increase by an average of 8% in 2025. Miners expect energy needs to grow to 800 megawatts per day in 2025 from 600 megawatts this year.<\/p>\n
Zimbabwe’s mining industry, one of its highest foreign currency earners alongside tobacco and horticulture, continues to be blighted by rolling power cuts and exchange losses.<\/p>\n
In 2024, the mining sector lost around $500 million in potential revenue to power outages, the report said.<\/p>\n
Miners however expect gold prices to remain bullish, increasing by an average of 12% in 2025 with PGMs and lithium declining 15%, the report said.<\/p>\n
Business confidence is also expected to improve with capital expenditure seen exceeding $600 million in 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"
Zimbabwean miners expect profits to decline on the back of anticipated high costs of production and a weak outlook for platinum and lithium in 2025, according to a report. A confluence of global and local factors will eat into the southern African country’s mining revenue and profit next year, said the report by the Chamber […]<\/p>\n","protected":false},"author":6,"featured_media":9957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":9,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters"},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,30],"tags":[3318,76],"class_list":["post-13713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-southern-africa","tag-chamber-of-mines-of-zimbabwe-comz","tag-zimbabwe"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/13713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=13713"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/13713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9957"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=13713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=13713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=13713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}