Twenty-nine tonnes of gold achievable by end of year

By Davison Vandira

ZIMBABWE’s gold producers are confident of hitting twenty nine tonnes of the refined yellow metal by end of year despite production disruptions due to and coronavirus pandemic.

The mining sector is rallying a twelve billion mining industry by 2023 with Gold being a key determinant to the attainment of this vision.

The yellow metal has so far contributed 1.5 billion United States dollars to the total mineral out of 5.5 billion United States dollars realised between January and September this year.

It is against an ever increasing productive capacity of both the small scale and big miners that  a local  gold miner Mr Scott Sakupwanya  believes this mining Sub sector is well positioned to attain set targets.

“As gold Producers we are optimistic on the sectors prospects of achieving the gold output of 29 tonnes which is a significant increase in  gold output in recent years,” said Scott Sakupwanya, a gold producer.

The recently introduced Reserve Bank of Zimbabwe five percent incentive for producing 20 kilogrammes of Gold as well as removal of royalties and payment of gold at prevailing International prices has increased productivity reiterated Sakupwanya.

Zimbabwe miners federation chief executive officer, Mr Wellington Takavarasha also noted the marked improvement of gold deliveries to Fidelity miners and refiners.

The government policies on the other hand continues to attract big corporates into the mining sector as evidenced by the resuscitation of Eureka gold mine in Guruve commissioned last week which is expected to produce 300 kilogrammes of Gold a month.

The post Twenty-nine tonnes of gold achievable by end of year appeared first on ZBC NEWS.

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