Zimbabweâ€™s gold production is this year expected to increase by 30% from 15 metric tonnes last year to 25 metric tonnes, on the back of firming international prices and an anticipated rise in global demand for the yellow metal.The gold mining sector is poised to play a critical role in economic recovery as statistics from the Chamber of Mines shows that productivity for January this year was at 4 metric tonnes from 2, 5 metric tonnes in the same duration last year amid expectations of a 30% rise in overall productivity levels for the commodity.
Zimbabwe Miners Federation President, Mr Trynos Nkomo said players in the gold mining sector are optimistic of increased output following the firming of international prices as well as a continuous surge in demand for gold in a move that has also resulted inÂ mining firms focusing onÂ mobilising adequate capital to expand operations.
â€œThis can be achieved and we hope something to that extent will be a reality in the near future,â€ Mr Nkomo said.
The gold mining industry, which has in the past few years experienced tough times due to unstable economic conditions, is on a rebound resulting in an increase in the number of players within the sector.
While other minerals such as platinum, chrome, nickel and diamonds are expected to contribute to the growth of the mining industry, official data from the Zimbabwe Miners Federation shows that gold last year emerged as the second contributor to the total mineral earnings after platinum.