gold1.jpgThe country’s gold production is this year expected to increase by 60 % to 8.8 tonnes from 4.9 tonnes recorded last year on the back of improved business confidence in the mining sector.

Gold production which had in the past few years slumped is on the recovery path after government last year allowed producers to sell the mineral on the international markets.

Chamber of Mines Chief Economist, Mr David Matyanga said the re-opening of gold mines as well as the injection of fresh capital into the sector from local, regional and international financiers has contributed to an increase in the overall production of gold.

“There is renewed investor confidence in the gold mining sector which is likely to translate into increased output come end of the year,” said Mr Matyanga.

Statistics from the Chamber of Mines show that gold production for the period between January and September this year was 5.3 tonnes worth US$224 million.

The country last year produced about 4.9 tonnes of the yellow metal valued at US$154 million.

Overall production this year is expected to rake in at least US$354 million.