|Gold deliveries improve in June|
|Friday, 03 August 2012 00:00|
ZIMBABWE’S gold deliveries reached 1 146,9kg in June this year, up from 1 076kg the previous month.
Figures from the Reserve Bank of Zimbabwe show that primary gold producers delivered 907,8kg while small-scale producers weighed in with 238,2kg.
In the first half of the year, total gold deliveries grew at a monthly average rate of 45,7 percent, reaching a cumulative total of 6 461,4kg.
But this was 0,6 percent lower than the forecast target of 6 500kg for the period.
Chamber of Mines figures also show that gold generated US$377 million in revenue during the first half of the year.
The statistics show that gold deliveries during the first half of 2012 grew by 30,7 percent from the comparable period in 2011.
The improvement in gold deliveries was a result of the firming of gold prices on the international market.
The local gold sector is this year expected to grow by 12 percent, with targeted output for the year just above 13 000kg.
Positive international commodity prices (especially for gold) are anticipated to drive the local mining sector’s growth this year.
Zimbabwe’s mining sector is expected to grow by 15,8 percent this year, a substantial decline from last year’s 25,8 percent.