Mutapa Gold Targets 220,000 Ounces by 2029

Mutapa Gold Resources plans to double annual gold production to 220,000 ounces by 2029. The company secured funding for expansion projects at two of its mines, according to Reuters. Mutapa, the country's largest gold producer and a subsidiary of the sovereign wealth fund, produced 104,626 ounces in the financial year ending March 2025. Global gold prices remain favorable, boosting the mining sector's export earnings. The Mutapa Investment Fund recently received a US$22.5 million dividend from its gold unit, signaling streamlined operations. Mining export earnings surged in the first quarter of 2026, driven by stronger global mineral prices. The core vulnerability is the reliance on volatile international gold prices.