By ZBC Reporter
Zimbabwe’s gold deliveries for this year have increased by 30 percent to over 25 tonnes, buoyed by incentives put in place to boost viability.
Data released by Fidelity Printers and Refiners, the sole buyer of the yellow metal, shows progress in terms of overall deliveries of the commodity this year compared to the previous year.
Zimbabwe Miners Federation Chief Executive Officer, Mr Wellington Takavarasha spoke on factors leading to the 30 percent rise in gold deliveries this year.
“There are several factors that have led to the growth trajectory with the key factor being the incentives that were put in place to sustain recovery, remember it is the overall small scale miners that have really accounted for more in terms of deliveries,” he said.
Mines and Mining Development Minister, Honourable Winston Chitando is optimistic of a further increase in output next year.
“The rise in production is fundamentally a welcome development, we anticipate the growth in gold output to even further rise before year end while we have set a 50 tonne target for next year,” noted Chitando.
Gold is a key foreign currency earner for Zimbabwe and it accounts for over 70 percent of the nation’s annual hard currency inflows.