Story by Stanley James, Business Editor
ZIMBABWE’S gold mining sector is on a promising outlook mode after recording a 40 % growth in deliveries to Fidelity Gold Refinery during the first three months of this year.
A review of the first quarter indicates a resilient gold mining industry driven by deliveries of over eight tonnes from about seven tonnes the same duration last year.
Small-scale miners continue to lead in terms of overall production for a sector that dominates Zimbabwe’s yearly foreign currency receipts.
With the government expecting 40 tonnes of the precious metal this year, production trends for the first quarter have set the tone for growth.
Commenting on the first quarter gold delivery trends, the Deputy Minister of Mines and Mining Development, Honourable Polite Kambamura says the government is confident of a further rise in the output for the precious metal.
“The mining industry is vital towards the sustainable development of the nation, it is within such perspectives that government is rolling out more incentives. The idea is to prop up the formalisation of the sector with the gold mining industry being the prime target, riding on the current milestones it also becomes imperative to note that the 40 % rise in gold deliveries is emanating from the positive results of government interventions going forward the sector is further poised for growth riding on favourable gold prices in the international markets,” Honourable Kambamura said.
“The government will therefore continue to focus on further consolidating the gains by creating a favourable climate, in fact, a further assessment of the industry will soon be conducted with the focus being on the need to decentralise the gold buying centres.”
Government interventions, supportive policies and industry interventions have seen Zimbabwe’s gold mining sector experience growth.
