Published: 14 June 2018

Zimbabwe's gold production continues to increase after hitting 13.3 tonnes in the five months to May this year which is already higher than the 9.9 tonnes achieved during the first half last year.

Statistics from the country's sole gold buyer Fidelity Printers and Refiners availed to the ZBC News show gold production rose by more than 30 percent being driven by incentives from the central bank.

The international prices for the precious metal averaging $1 200 an ounce from an all time low of $960 an ounce also facilitated growth in output.

Chamber of Mines executive committee member for gold production, Mr Thomas Gono said the upward trend in production is likely to result in Zimbabwe achieving this year's projected target of 28 tonnes.

"The continuous growth in production is likely to mark a rise in output at a time when the economy is focusing on enhancing the quality of the commodity," he said.

In January, output was 2.6 tonnes while in February it marginally dropped to 2.0 tonnes, 2.7 tonnes in March, 2.8 tonnes in April and 10.1 tonnes in May.

Emerging miners continue to outstrip the large scale producers by contributing over 7.1 tonnes while large scale corporates accounted for 6.2 tonnes.
- zbc

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