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Zim nets $583m from mineral output

Jun 14 2013 19:04 Malcom Sharara, Fin24’s correspondent in Zimbabwe

(Shutterstock) (http://www.shutterstock.com)

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Harare - Zimbabwe’s mineral production in the four months to April was valued at $582.8m, latest figures from the Chamber of Mines show.

According to figures released this week, mineral production in the period was down 11.2% from the comparable year-ago period.

Gold production in the period was at $224.7m from production of around 4 434 kg.

Gold production this year is expected to reach 17 000 kg from 14 742 kg last year, as the government is set to regularise and fund the operations of small-scale and artisanal miners. 

In the four-month period platinum production was at 4 727 kg, and the year’s output is expected grow to 12 500 kg from 10 525 kg last year.

Overall, the mining sector is forecast to grow 17.1% this year from the 10.1% achieved last year, according to the chamber.

All has not been rosy in the sector, which was the first target for the country's empowerment programme. 

Apart from indigenisation, the industry has been subjected to a myriad of taxes and fees weighing down on its viability and competitiveness.

 - Fin24


 

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zimbabwe  |  mining
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