africa commodities Economy export gold Natural Resources Trade Zimbabwe

Zimbabwe’s gold output up to 24.8 tonnes in 2017

Zimbabwe’s annual gold output increased to 24,8 tonnes in 2017 from 21,1 tonnes the previous year driven by a rise in deliveries from small scale miners, Fidelity Printers and Refineries (FPR) has said.

FPR is a unit of the central bank and the southern African nation’s sole buyer of gold.

Gold production in the south African nation has been on an upward trajectory since government decriminalized artisanal mining and embarked on an aggressive collection strategy, which saw the setting up of buying depots across the country.

“By year end 2017, FPR had managed to reach a target of 24,8 tonnes, an increase from 21,1 tonnes attained in 2016,” said FPR.

“Of the 24,8 tonnes, small scale miners contributed 13,2 tonnes while primary producers delivered a total of 11,7 tonnes”.

The central bank has since launched an $80 million fund to capacitate small scale miners and boost gold production which is targeted at 26 tonnes.

Source: The Source

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.