Record gold output in November as more deliveries are expected

By Mhlomuli Ncube

THE Reserve Bank of Zimbabwe says it has witnessed a record delivery of 3.3 tonnes of gold in November, the highest ever figure in a fiscal year.

The gold production sector is growing with deliveries from June to November more than pleasing as alluded to by Central Bank Governor, Dr John Mangudya.

“We are very happy with the gold sector. We have seen that after initiative on the gold incentives scheme our deliveries to Fidelity printers are going up from June to November. In November our figures show that this was a record month 3,3 tonnes delivered to Fidelity printers, cumulatively going up to November that is increasing to 25,2 tonnes which means at that projected endeavour we are going to end the year around 28.8 tonnes.”

Riding on a number of incentives, the Reserve Bank of Zimbabwe has not only managed to receive more gold into the national vault but also close leakages of precious minerals.

The central bank has also rolled out gold production centres around the country making it easier for small scale miners to deliver the precious metal.

This in turn has confirmed that the quest for a 12 billion United States dollar mining industry by 2023 has moved from just being a paper target to reality within reach.