Story by Stanley James, Business Editor
GOLD producers are engaged in discussions with Government over Zimbabwe’s gold production targets for 2026, buoyed by rising output that exceeded 46 tonnes last year.
The engagements are expected to review the performance of the mining sector, assess operational and structural challenges, and map strategies to sustain and grow production in the coming years. Sources familiar with the talks told ZBC News that the proposed 2026 production target for the yellow metal is likely to be set above 45 tonnes.
Economist Dr Zack Murerwa said consolidating recent gains in gold output will be critical to ensuring long-term sustainability of the sector.
“We expect the meetings to lay the foundation towards a clear path of sustainable development. By so doing, the need to bolster production becomes imperative. Furthermore, looking at workable ways to prop up the miners, mainly the small-scale miners, is also important while the need to capacitate the small-scale or emerging miners becomes imperative.”
Fidelity Gold Refinery is optimistic about the gold production growth trajectory driven by favourable global commodity prices.
“As Fidelity Gold Refinery, we remain upbeat over our plans to foster the growth of this capital-intensive but viable sector. We are doing all the best to make sure that the yellow metal plays a pivotal role in overall growth while focusing on long-term initiatives that can unlock value and create favourable operating conditions to sustain the ongoing growth trajectory,” Fidelity Gold Refinery Chief Executive Officer, Mr Peter Magaramombe said.
Gold remains Zimbabwe’s leading mineral export and a cornerstone of the economy, accounting for more than 70 percent of annual foreign currency inflows.
