High gold prices entice mining companies into more exploration in Zimbabwe

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 fuelled by US 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, 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 tonnes 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 tonnes, a new record and a remarkable turnaround from only 3 tonnes in 2008.

'Pulled trigger on exploration'