{"id":1277,"date":"2026-03-01T19:31:41","date_gmt":"2026-03-01T19:31:41","guid":{"rendered":"https:\/\/www.zimining.co.zw\/?p=1277"},"modified":"2026-03-21T15:36:20","modified_gmt":"2026-03-21T15:36:20","slug":"gold-reserves-boost-zig-backing","status":"publish","type":"post","link":"https:\/\/www.zimining.co.zw\/index.php\/2026\/03\/01\/gold-reserves-boost-zig-backing\/","title":{"rendered":"Gold production boosts Zimbabwe\u2019s reserves"},"content":{"rendered":"<div class=\"article-summary\" style=\"background: #F9F9F9; border-left: 4px solid #1e6bb8; padding: 16px 20px; margin-bottom: 24px; font-family: 'Open Sans', sans-serif; font-size: 0.95em; line-height: 1.6; color: #212223;\">\n<ul style=\"margin: 0; padding-left: 20px;\">\n<li>Gold reserves in Zimbabwe rose from 1.5 to 4 tonnes in two years.<\/li>\n<li>This growth strengthened the gold-backed ZiG and boosted foreign reserves.<\/li>\n<li>Mining output and royalties helped support the economy and lower inflation.<\/li>\n<\/ul>\n<\/div>\n<p>GOLD reserves in Zimbabwe have seen a remarkable increase over the last two years, significantly enhancing the support for its gold-linked currency, the Zimbabwe Gold (ZiG), and bolstering foreign currency reserves, according to data from the central bank.<\/p>\n<p>Gold reserves increased from approximately 1.5 tonnes in April 2024 to around 4 tonnes by late 2025, as indicated by the reserve bank statistics.<\/p>\n<p>This more than twofold increase is partly attributed to higher gold deliveries and in-kind royalty payments. This growth has been crucial in expanding the backing for the ZiG, which was introduced in 2024.<\/p>\n<p>In the Monetary Policy Statement presented in February 2026, Governor John Mushayavanhu said that the accumulation of gold reserves is part of a strategic initiative aimed at enhancing resilience against external shocks and boosting confidence in the local currency.<\/p>\n<p>\u201cGold holdings, a key component of the foreign currency reserves, significantly improved \u2026 representing an increase of over 250%,\u201d he said in the policy announcement.<\/p>\n<p>By late 2025, gross foreign currency reserves were approximately US$1.2 billion, as shown in the policy document, which is roughly equivalent to 1.5 months of import cover. This is a significant increase since the early days of the ZiG.<\/p>\n<p>Zimbabwe has ramped up official gold deliveries to the Reserve Bank through various policies, including in-kind royalty payments from mining companies, which have helped to amass bullion directly for reserve support.<\/p>\n<p>Data from 2025 suggests that the country\u2019s gold output reached record highs, with small-scale and artisanal miners contributing the majority of formal deliveries, according to industry sources.<\/p>\n<p>Mining export earnings have also played a vital role in supporting reserve growth, with the sector continuing to be the backbone of foreign exchange inflows.<\/p>\n<p>In early 2025, export receipts from minerals, including gold, saw a sharp rise, underscoring the sector\u2019s significant contribution to the broader economy.<\/p>\n<p>Mushayavanhu attributed the increase in reserves to broader goals of economic stability, noting that inflation had dropped sharply into single digits in local-currency terms by early 2026.<\/p>\n<p>This marked the first extended period of low inflation in decades.<\/p>\n<p>\u201cWe need to make sure inflation is anchored first \u2026 the policy rate will remain at current levels,\u201d he shared with reporters during a policy briefing.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold reserves in Zimbabwe rose from 1.5 to 4 tonnes in two years. This growth strengthened the gold-backed ZiG and boosted foreign reserves. Mining output and royalties helped support the economy and lower inflation. GOLD reserves in Zimbabwe have seen a remarkable increase over the last two years, significantly enhancing the support for its gold-linked [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"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_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"4","show_post_tag":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"1","show_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","subtitle":"Central bank says surge in gold reserves boosts foreign currency backing and economic resilience"},"jnews_primary_category":[],"jnews_paywall_metabox":{"paragraph_limit":"2","enable_premium_post":"0","enable_free_post":"0","override_paragraph_limit":"0","enable_preview_post":"0","enable_preview_video":"0"},"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[58,373,364,42],"tags":[286,121,287,284,285],"class_list":["post-1277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities-prices","category-gold-2","category-production-operations","category-zimbabwe-mining-news","tag-dr-john-mushayavanhu","tag-gold-mining-zimbabwe","tag-monetary-policy","tag-rbz","tag-reserve-bank-of-zimbabwe"],"_links":{"self":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts\/1277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/comments?post=1277"}],"version-history":[{"count":6,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts\/1277\/revisions"}],"predecessor-version":[{"id":1290,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/posts\/1277\/revisions\/1290"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/media\/1285"}],"wp:attachment":[{"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/media?parent=1277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/categories?post=1277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zimining.co.zw\/index.php\/wp-json\/wp\/v2\/tags?post=1277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}