Zimbabwe raked in US$600 million from mineral sales except gold and silver in the first four months of this year, official statistics released this Monday have revealed.
The mineral sale receipts reflect a more than 10 percent rise compared to US$543 million earned between January and April last year.
Platinum, nickel, chrome and granite, among others have been the key drivers of revenue growth in the period under review.
Despite the drop in terms of tonnes, government’s policies to boost production are likely to result in an improvement in the second quarter, according to Minerals Marketing Corporation of Zimbabwe (MMCZ) General Manager, Mr Tongai Muzenda.
“The second quarter is likely to accrue better yields in a development that is anticipated to unlock more value for the sector,” said Mr Muzenda.
With several mining companies embarking on recapitalisation initiatives as well as diversifying production portfolios and strategic markets, there is also hope for increased exports in the long term.
“Through beneficiation, we really anticipate a lot to happen as the sector has the potential to recover and rake in more foreign currency,” he said.
The Republic of South Africa, China, Italy, Holland and Austria, among others, are dominating export markets for locally produced minerals with the much anticipated recovery in global resources prices being projected to improve income generation.