THE value for mineral production for the first 10 months of the year stood at US$1,56 billion with gold and platinum being the major contributors, according to the Chamber of Mines of Zimbabwe (CMZ)
BY VICTORIA MTOMBA
The CMZ statistics also show that gold stood at 12 363 kilogrammes (kg) and US$501 608 156 was realised during the 10-month period. Platinum came second best realising US$421 384 762 during the period under review from an output of 10 367kg.
Palladium was number three in terms of value at US$190 289 885 from an output of 8 4449 tonnes while nickel was at fourth position having realised US$171 649 505 from an output of 14 068 tonnes.
High carbon ferrochrome had an output of 138 518kg realising US$133 542 677 during the ten month period.
Total gold output for the first eleven months of 2013 amounted to 12 914 kgs, compared to 13 650kgs produced during the comparative period in 2012, representing a 5,4% decline.
The under-performance of gold in 2013 was attributed to the accident that occurred at Freda Rebecca, escalating operational costs, unreliable power supply, and falling international gold prices, reaching a low of US$1 198 per ounce in June 2013.
The country is expected to record 15 000kg of gold this year, an increase of 7,1%.
Nickel output is expected to be at 15 020 tonnes, platinum 14 000 tonnes and palladium is expected to be at 11 200kg.
The mining sector is projected to grow by 11,4%, on the back of planned investments, driven by strong performance in gold, diamonds, nickel and coal.
The performance is expected to be driven by capital injection by mining houses, rebound in international gold prices as well as production rump-up at Freda Rebecca Mine.