Zimbabwe gold exports decline by 21%

Zimbabwe gold exports decline by 21%
Published: 19 October 2018 (241 Views)
Zimbabwe's gold mining firms exported $130 million worth of bullion in August, a decline of 21 percent on the prior month.

Gold is the single largest export earner in the southern African country, whose economy is flat lining as a result of lack of investment, electricity shortages and high cost of capital.

Gold exports accounted for 35 percent of the total exports in August. Fidelity Printers and Refiners - the sole buyer of all gold produced in Zimbabwe, irrespective of its origin - said gold deliveries for the 9 months period to September have reached 28,2 tonnes which is a new all-time high for the commodity. The government had initially set a target of 28 tonnes before an upward revision to 30 tonnes which is now also likely to be surpassed.

Incessant rains in the first quarter of the year dampened gold production, coupled with power outages in the same period.

Favourable weather to date has seen gold production rising. Gold production for the year will likely be in the region of 34 tonnes which will rake in $1,3 billion in export receipts.

- dailynews

Tags: Gold, Zimbabwe, Exports,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Knox Mutizwa wins August Goal of the Month award

by kickoff | 05 November 2018 | 1032 Views

BREAKING: Gandawa on the run

by Staff reporter | 05 November 2018 | 1981 Views

Econet cannot distribute Kwese TV content to Zimbabwean viewers

by Staff reporter | 05 November 2018 | 1513 Views

Shoot-out robbers arrested

by Staff reporter | 05 November 2018 | 1526 Views

Mnangagwa ally warns economic saboteurs

by Staff reporter | 05 November 2018 | 1476 Views

Chamisa mobilises supporters for mass protests

by Staff reporter | 05 November 2018 | 1261 Views

LISTEN: Acie Lumumba speaks on how he got paid

by Staff Reporter | 05 November 2018 | 1043 Views

Dzamara speak on Zanu-PF fights

by Mandla Ndlovu | 05 November 2018 | 1010 Views

Minister Raj Modi Modi donates salary

by Mandla Ndlovu | 05 November 2018 | 861 Views

'I am a Trillionaire' Magaya says

by Mandla Ndlovu | 05 November 2018 | 1380 Views

Supermarkets to be blacklisted over cooking oil

by Mandla Ndlovu | 05 November 2018 | 826 Views

UK army to recruit from Commonwealth

by BBC | 05 November 2018 | 920 Views

Magaya opens up on arrest

by Mandla Ndlovu | 05 November 2018 | 930 Views

Kambarami is still 'Deputy Mayor'

by Mandla Ndlovu | 05 November 2018 | 770 Views

'Import ban must not go beyond December 21'

by Staff reporter | 05 November 2018 | 851 Views

Prophet Magaya puts fresh spin to arrest

by Staff reporter | 05 November 2018 | 880 Views

Chamisa's sign language interpreters get thumps up

by Staff reporter | 05 November 2018 | 865 Views

Mnangagwa to review Mthuli Ncube's 2% tax again

by Staff reporter | 05 November 2018 | 831 Views

Lumumba to be probed by ZAAC?

by Staff reporter | 05 November 2018 | 607 Views

Dzamara speak on ZANU PF fights

by Mandla Ndlovu | 05 November 2018 | 576 Views

Zimbabwe as a new gateway into Africa

by Minister of Finance Prof Mthuli Ncube | 05 November 2018 | 848 Views

Chiwenga's ex-wife looted millions

by Mandla Ndlovu | 05 November 2018 | 1232 Views

We are our own worst enemies

by Mapozho Saruchera | 05 November 2018 | 895 Views

Mnangagwa to deal with unexplained wealth and bank deposits

by Staff reporter | 05 November 2018 | 811 Views

WATCH: Chiwenga talks about Prophet Walter Magaya's lipstick

by Staff reporter | 05 November 2018 | 803 Views

Lumumba Saga takes new twist....War vets bay for Mutsvangwa's blood

by Mandla Ndlovu | 05 November 2018 | 870 Views

Chamisa demands Presidency

by Mandla Ndlovu | 05 November 2018 | 760 Views

Zimbabwean teachers miss out on New Zealand opportunity

by Staff Writer | 05 November 2018 | 705 Views

Zimbabwe to introduce e-provisional driver's exams

by Staff reporter | 05 November 2018 | 751 Views

Zimbabwe to supply water to South Africa

by Staff reporter | 05 November 2018 | 749 Views

Mnangagwa claims that 'good times will soon roll'

by Staff reporter | 05 November 2018 | 715 Views

Zimbabwe as a new gateway into Africa

by Hon. Prof Mthuli Ncube | 05 November 2018 | 844 Views

Chiyangwa appoint Karikoga Kaseke

by Staff reporter | 05 November 2018 | 716 Views

ZCTU demo: Ruling today

by Staff reporter | 05 November 2018 | 666 Views

Missing cop found dead

by Staff reporter | 05 November 2018 | 810 Views

Tagwirei marries long-time girlfriend

by Staff reporter | 05 November 2018 | 1264 Views

Zimbabwe relaxes maternity leave entitlement

by Staff reporter | 05 November 2018 | 775 Views

Zimbabwe to receive drugs, ambulances from India

by Staff reporter | 05 November 2018 | 698 Views