Zimbabwe gold exports decline by 21%

Zimbabwe gold exports decline by 21%
Published: 19 October 2018 (235 Views)
Zimbabwe's gold mining firms exported $130 million worth of bullion in August, a decline of 21 percent on the prior month.

Gold is the single largest export earner in the southern African country, whose economy is flat lining as a result of lack of investment, electricity shortages and high cost of capital.

Gold exports accounted for 35 percent of the total exports in August. Fidelity Printers and Refiners - the sole buyer of all gold produced in Zimbabwe, irrespective of its origin - said gold deliveries for the 9 months period to September have reached 28,2 tonnes which is a new all-time high for the commodity. The government had initially set a target of 28 tonnes before an upward revision to 30 tonnes which is now also likely to be surpassed.

Incessant rains in the first quarter of the year dampened gold production, coupled with power outages in the same period.

Favourable weather to date has seen gold production rising. Gold production for the year will likely be in the region of 34 tonnes which will rake in $1,3 billion in export receipts.

- dailynews

Tags: Gold, Zimbabwe, Exports,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Knox Mutizwa wins August Goal of the Month award

by kickoff | 05 November 2018 | 758 Views

BREAKING: Gandawa on the run

by Staff reporter | 05 November 2018 | 1475 Views

Econet cannot distribute Kwese TV content to Zimbabwean viewers

by Staff reporter | 05 November 2018 | 1118 Views

Shoot-out robbers arrested

by Staff reporter | 05 November 2018 | 1160 Views

Mnangagwa ally warns economic saboteurs

by Staff reporter | 05 November 2018 | 1129 Views

Chamisa mobilises supporters for mass protests

by Staff reporter | 05 November 2018 | 936 Views

LISTEN: Acie Lumumba speaks on how he got paid

by Staff Reporter | 05 November 2018 | 761 Views

Dzamara speak on Zanu-PF fights

by Mandla Ndlovu | 05 November 2018 | 730 Views

Minister Raj Modi Modi donates salary

by Mandla Ndlovu | 05 November 2018 | 609 Views

'I am a Trillionaire' Magaya says

by Mandla Ndlovu | 05 November 2018 | 994 Views

Supermarkets to be blacklisted over cooking oil

by Mandla Ndlovu | 05 November 2018 | 628 Views

UK army to recruit from Commonwealth

by BBC | 05 November 2018 | 669 Views

Magaya opens up on arrest

by Mandla Ndlovu | 05 November 2018 | 662 Views

Kambarami is still 'Deputy Mayor'

by Mandla Ndlovu | 05 November 2018 | 535 Views

'Import ban must not go beyond December 21'

by Staff reporter | 05 November 2018 | 620 Views

Prophet Magaya puts fresh spin to arrest

by Staff reporter | 05 November 2018 | 620 Views

Chamisa's sign language interpreters get thumps up

by Staff reporter | 05 November 2018 | 608 Views

Mnangagwa to review Mthuli Ncube's 2% tax again

by Staff reporter | 05 November 2018 | 587 Views

Lumumba to be probed by ZAAC?

by Staff reporter | 05 November 2018 | 430 Views

Dzamara speak on ZANU PF fights

by Mandla Ndlovu | 05 November 2018 | 394 Views

Zimbabwe as a new gateway into Africa

by Minister of Finance Prof Mthuli Ncube | 05 November 2018 | 595 Views

Chiwenga's ex-wife looted millions

by Mandla Ndlovu | 05 November 2018 | 956 Views

We are our own worst enemies

by Mapozho Saruchera | 05 November 2018 | 649 Views

Mnangagwa to deal with unexplained wealth and bank deposits

by Staff reporter | 05 November 2018 | 614 Views

WATCH: Chiwenga talks about Prophet Walter Magaya's lipstick

by Staff reporter | 05 November 2018 | 597 Views

Lumumba Saga takes new twist....War vets bay for Mutsvangwa's blood

by Mandla Ndlovu | 05 November 2018 | 676 Views

Chamisa demands Presidency

by Mandla Ndlovu | 05 November 2018 | 567 Views

Zimbabwean teachers miss out on New Zealand opportunity

by Staff Writer | 05 November 2018 | 508 Views

Zimbabwe to introduce e-provisional driver's exams

by Staff reporter | 05 November 2018 | 553 Views

Zimbabwe to supply water to South Africa

by Staff reporter | 05 November 2018 | 549 Views

Mnangagwa claims that 'good times will soon roll'

by Staff reporter | 05 November 2018 | 523 Views

Zimbabwe as a new gateway into Africa

by Hon. Prof Mthuli Ncube | 05 November 2018 | 595 Views

Chiyangwa appoint Karikoga Kaseke

by Staff reporter | 05 November 2018 | 524 Views

ZCTU demo: Ruling today

by Staff reporter | 05 November 2018 | 475 Views

Missing cop found dead

by Staff reporter | 05 November 2018 | 600 Views

Tagwirei marries long-time girlfriend

by Staff reporter | 05 November 2018 | 932 Views

Zimbabwe relaxes maternity leave entitlement

by Staff reporter | 05 November 2018 | 561 Views

Zimbabwe to receive drugs, ambulances from India

by Staff reporter | 05 November 2018 | 482 Views