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Thursday, May 23, 2024

Large-scale miner’s gold production figures firm

Story by Theophilus Chuma

GOLD deliveries by large-scale producers firmed by more than 80 kilogrammes in July, as authorities pin hope on this positive traction to surpass last year’s production figures.

The revival of Shamva Gold Mine, and Freda Rebecca as well as the strong performance of existing concerns such as Blanket Mine in Gwanda, have anchored gold deliveries to Fidelity Printers and Refiners.

The latest figures show a jump of at least 82 kilogrammes from the June figure of 965 kilogrammes of the yellow metal to 1 047 kilogrammes in July.

The positive development is a continuation from the previous month where large-scale miners delivered 1 032 kilogrammes of the precious metal in June this year, up from the 2022 figure of 837 kilogrammes submitted during the same period.

Government is confident that set objectives of a record 40 tonnes will be achieved this year.

“We will achieve forty tonnes. As you may be aware, if you look at the production trends, generally, the year starts slower because of the rainy season and various other factors and then pickup. We are looking at forty tonnes and we will get the forty tonnes,” said Mines and Mining Development Minister, Honourable Winston Chitando.

To sustain this performance, the government has also come up with a US$10 million funding vehicle for artisanal and small-scale miners which has assisted the industry.

“That has assisted us to maintain our production figures. We had heavy rains that befell us during the last rainy season, but for January the small-scale miners did 961 kilogrammes and in February we did 1,1 tonnes and in March we did 1,579 tonnes.

“In April we did 1,47 tonnes, in May we did 1,8 tonnes and in June we managed 1,7 tonnes,” said Zimbabwe Miners Federation President, Ms Henrietta Rushwaya.

Combined production by large and small-scale miners is key in the attainment of a US$12 billion mining economy, with the gold sector expected to contribute US$4 billion.

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