By the time 2013 came to an end Zimbabwe’s mineral exports earned the country $1.86 billion. The desirable commodities namely gold and platinum were the drivers and main influences of this achievement.
Today, Zimbabwe’s mining sector and mineral exports contribute 13% of the country’s gross domestic product.
Zimbabwe Mineral exports statistics | Gold
Gold production increased by almost 20% earning an amount of $782.75 million;
Total gold output increased by just under 14%;
Monthly average gold production amounted to 1 228.53 kilogrammes.
The major gold producing mines who also boost the country’s mineral exports achieved record breaking production for the year on the back of improved investment into exploration.
Zimbabwe experienced its peak of gold mineral exports in 1999 amounting to a whopping total of 27 tonnes. Top gold mines operating in Zimbabwe include Metallon, Duration Gold Zimbabwe, Blanket Mine and New Dawn Corporation. Yellow metal is said to boost economic development for the southern African country. Global gold prices have risen for 12 consecutive years, positioning it as one of the longest-running bull markets in history.
Zimbabwe Mineral exports statistics | Platinum
Last year platinum production was at 10 52 4 kilogrammes;
The value of Platinum for last year amounted to $538.27 million and was forecasted at 12 900kg;
At the moment majority of the chrome mines are undergoing maintenance due to the low prices prevailing in the sector and the increased operating costs.
Nickel production, mainly being produced as a by-product of platinum mining was at 7 898 tonnes amounting to $112.35 million. By 2016 nickel production in Zimbabwe is likely to reach 25 000 tonnes.
Analysts believe if key challenges facing the mining sector in Zimbabwe such as inadequate capital, energy supply constraints and a few others will be challenged and therefore won’t have a negative effect for the country’s sector for too much longer.
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