Zimbabwean laboratories are struggling to keep up with a surge in mineral samples as mines increase exploration activity in response to record gold prices, a mining executive said on Wednesday.
Craig Harvey, Vice President for Technical Services at one of Zimbabwe’s leading gold producers, Caledonia Mining Corp, told analysts that the company has experienced delays in receiving results from accredited local laboratories for its exploration samples. Said Harvey:
“It is very frustrating for us, but in the Zimbabwe context that’s actually very encouraging.
“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.”
Caledonia Mining Corp’s profit jumped to US$34.8 million in the six months to June 30, up from US$12.25 million in the previous period, driven by higher production and a 40 percent rise in the average gold price.
CEO Mark Learmonth told analysts that the company is exploring options to raise capital for developing its Bilboes project, potentially Zimbabwe’s largest gold mine, while minimising equity dilution and protecting its dividend policy.
Zimbabwe’s gold output reached 24.3 metric tons in the first seven months of 2025, marking a 40 percent increase compared to the same period last year.
Annual production is expected to surpass 40 metric tons, setting a new record and representing a remarkable turnaround from just three tons in 2008.
Gold prices have been driven to record highs by geopolitical tensions, central bank buying, and recent economic uncertainty linked to U.S. President Donald Trump’s tariffs, reaching $3,500 an ounce in April.
More: Reuters
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