According to figures from the Chamber of Mines, total gold output rose 13.47% from 12 992kg in 2012 led by robust production in July, August and October.
Monthly average production was 1 228.53kg. The major gold producing mines reported record production for the year on the back of improved investment into exploration.
Platinum production was at 10 524kg, a decrease of 2.79% from the comparable year ago period. As a result, the value fell to $464.51m to $538.27m last year, a 13.7% drop. Platinum was forecast at 12 900kg.
Platinum miners last year scaled down production owing to a
sharp increase in production costs, attributed to the hike in mining fees and
ballooning input costs against falling global prices.
Platinum prices
were weak due to a slowdown in the automotive industry.
Total mineral production, excluding Hwange Colliery figures for coal, was at $1.863bn. Last year the country’s mineral production amounted to $2.01bn. This means 2012 mineral production fell below that of 2011.
High carbon ferrochrome turnover amounted to $156.75m, at 137 534 tonnes below the targeted 155 000t. Chrome production was at 408 475t at $48.96m. Most chrome mines are under care and maintenance owing to the low prices currently prevailing in the sector and high operating costs.
The output of nickel, mainly a byproduct of platinum mining, was at 7 898t with a value of $112.35m. Nickel production is expected to touch 25 000t in 2016.
According to projections, if $5bn is invested in the mining sector platinum production is expected to reach 21 000kg in 2016, while gold output will rise to 50 000kg.
- Fin24