Zimbabwe: Gold Output Up 13 Per Cent

24 January 2013

ZIMBABWE'S gold output rose 13,4 percent last year to 14 742kg from 12 992kg a year earlier, but fell short of the targeted 15 000kg, latest figures from the Chamber of Mines show. Gold revenues were up 18,9 percent to US$782,75 million from the previous comparable period.

At its peak in 1999, Zimbabwe produced 27 tonnes of gold, but output declined to a record low of 3 000kg in 2007 as a result of the economic recession and mine closures. The chamber, which represents Zimbabwe's miners, said the sector requires as much as US$1 billion to achieve 50 000kg over a five-year period.

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