Zimbabwe gold exports decline by 21%

Zimbabwe gold exports decline by 21%
Published: 19 October 2018 (375 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

WATCH: Apostle Vutabwashe blasts Mnangagwa's government

by Mandla Ndlovu | 22 April 2019 | 69 Views

Analysts defend Tinashe Kachingwe

by Mandla Ndlovu | 22 April 2019 | 41 Views

'Corruption and cronyism worrying Mnangagwa' ZANU PF MP says

by Mandla Ndlovu | 22 April 2019 | 57 Views

ZANU PF launches 10 000 youths to fight for a mine?

by Mandla Ndlovu | 22 April 2019 | 64 Views

Cyclone Idai victims resist tent homes

by Staff reporter | 22 April 2019 | 43 Views

Price controls the only way to go, says Mutodi

by Staff reporter | 22 April 2019 | 38 Views

Chamisa faces VPs Dilemma

by Staff reporter | 22 April 2019 | 45 Views

Cyclone Idai donations 'looting' soldiers freed

by Staff reporter | 22 April 2019 | 38 Views

Churches taking anti-sanctions crusade to opposition parties

by Staff reporter | 22 April 2019 | 33 Views

Registrar of Deeds dragged to court

by Staff reporter | 22 April 2019 | 36 Views

Chamisa urged to back Mwonzora's bid

by Staff reporter | 22 April 2019 | 26 Views

Bosso, Dembare beaten again

by Staff reporter | 22 April 2019 | 41 Views

Minister fouls Mnangagwa's plans fouled by Owen Ncube

by Staff reporter | 22 April 2019 | 41 Views

Tsvangirai turning in his grave, says daughter

by Staff reporter | 22 April 2019 | 37 Views

Mnangagwa pleads with Diasporans

by Staff reporter | 22 April 2019 | 37 Views

Chamisa unveils Mwonzora, Mudzuri rescue plan

by Staff reporter | 22 April 2019 | 34 Views

11 dead in kombi, Honda fit head-on accident

by Staff reporter | 22 April 2019 | 39 Views

War vets slam bread price hike

by Staff reporter | 22 April 2019 | 101 Views

Charumbira calls for truce in boundary row

by Staff reporter | 22 April 2019 | 82 Views

Mnangagwa hopeful on economy

by Staff reporter | 22 April 2019 | 95 Views

Revolution is the great teacher

by Reason Wafawarova | 22 April 2019 | 72 Views

Econet raises RTGS$479 287 for Idai relief through EcoCash

by Staff reporter | 22 April 2019 | 66 Views

Chief Mvuthu's family in fresh wrangle

by Staff reporter | 22 April 2019 | 67 Views

'Mnangagwa to crack whip on errand businesses'

by Staff reporter | 22 April 2019 | 67 Views

Artisanal miner shot dead

by Staff reporter | 22 April 2019 | 65 Views

'Zimbabwe public finances in bad shape'

by Staff reporter | 22 April 2019 | 38 Views

It's time for South Africa to rethink the economy

by Tapiwa Gomo | 22 April 2019 | 57 Views

'Mnangagwa won't take Zimbabwe anywhere'

by Staff reporter | 22 April 2019 | 67 Views

Military rifle recovered from poachers

by Staff reporter | 22 April 2019 | 67 Views

MDC led council not going back on tariff increase

by Staff reporter | 22 April 2019 | 57 Views

Mnangagwa told to be realistic

by Staff reporter | 22 April 2019 | 69 Views

'Wanton price hikes signify indiscipline'

by Staff reporter | 22 April 2019 | 67 Views

Where is Mnangagwa taking us to?

by Eddie Cross | 22 April 2019 | 83 Views

Rank marshal jailed over witchcraft rant

by Staff reporter | 22 April 2019 | 68 Views

Bosso brace for Triangle

by Staff reporter | 22 April 2019 | 63 Views

Confusion over Sadomba suspension

by Staff reporter | 22 April 2019 | 55 Views