Zim on course to produce 28 tonnes of gold in FY17

Zim on course to produce 28 tonnes of gold in FY17

HARARE, October 3 (The Source) – Zimbabwe is on course to meet its target to produce 28 tonnes of gold by year end, driven by increased output from artisanal miners, Finance Minister Patrick Chinamasa has said.  

Gold production in the southern African nation has been on an upward trajectory since government decriminalized artisanal mining and embarked on an aggressive collection strategy, which saw the country’s sole buyer of gold Fidelity Printers set up buying depots across the country.

“Artisanal miners have actually exceeded the production figure of primary producers. We are going to exceed last year’s production this year,” Chinamasa said in a statement to Parliament last week.  

“I am pleased to advise Honourable Members that small scale gold producers delivered 1.5 tonnes to Fidelity Printers and Refinery in August 2017 which is the highest monthly delivery by this sector since independence.  With large scale producers, total gold delivery to Fidelity Printers and Refiners in August was 2.5 tonnes,” he said.

In the eight months to August gold production has increased 10 percent to 14,6 tonnes. Small-scale miners have delivered 7,2 tonnes during the period up from 5.5 tonnes the previous year.

In 2016, annual gold production reached 21.4 tonnes.