obert mpofu 01-11-10.jpgMines and Mining Development Minister, Cde Obert Mpofu says the performance of the mining sector in the first quarter proved that the industry can meet the projected 33% growth rate this year.

Growth in the sector this year has since been pushed by the increase in gold production output as well as high prices of the precious stone on the international market.

In an interview with ZBC News in Harare this Monday, Cde Mpofu says government is happy with the performance of the mining sector, expressing optimism that the target of 33% growth this year is achievable.

The mining sector is one of the major economic drivers owing to high mineral prices on the international market. 

Gold production in the first quarter of this year increased by 27% from 1,9  tonnes to 2,4 tonnes compared to the same period last year.

This has been attributed to uninterrupted power supply and continued firming of the price of the commodity on the international market.

The performance of the mining sector also pushed the mining index on the Zimbabwe Stock Exchange (ZSE) to 273,2 points from 216,82 points between January and March.

The performance of the mining sector in the first quarter has built confidence among stakeholders who indicated that 33% growth rate is attainable.