Gold “’ production
rising substantially
in Zimbabwe
 
Harare, Zimbabwe — MININGREVIEW.COM — 03 February 2011 – Zimbabwe’s gold production is expected to rise over 60% to 13t in 2011, compared with an estimated 8t last year, as the mining industry continues to underpin the country’s economic recovery.

Revealing this in its annual review of the economy, the Reserve Bank of Zimbabwe said the higher gold prices, as well as the re-opening of mothballed mines and the recapitalisation of existing ones, had helped mining rebound.

Zimbabwe’s gold production fell to an all-time low of 3t in 2008, at the height of a political and economic crisis which eased in 2009 when President Robert Mugabe agreed to share power with his bitter rival Morgan Tsvangirai, now prime minister.

“Mining output, which grew by 47% in 2010, is set to grow by 60% in 2011,” the central bank said in a statement posted on its website. “Platinum production reached 7 252t in October 2010, compared to 6 848t in the same period of 2009,” it added.

Platinum output is set to rise to 12.5t in 2011, driven by the commissioning of Anglo Platinum’s Unki Mine and expansion of Mimosa Mine “’ an Aquarius and Implats joint venture “’ the central bank said.

It added that chrome production had increased by 148% in 2010, from 201 000t in 2009 to
500 000t, with 2011 output projected to reach 700,000t. Coal output was estimated at 2Mt in 2010, up from 1.6Mt tons in 2009. Coal output is projected to rise -a massive 50% to 3Mt, the central bank said.

Mineral exports accounted for 64.5% of Zimbabwe’s total exports, which rose to US$2.2 billion in 2010, from US$1.4 billion the previous year, central bank figures showed.

Zimbabwe diamond export revenue amounted to US$361.1 million in 2010, compared to only US$37.4 million in 2009, mainly due to approved sales by the global regulator Kimberley Process Certification Scheme, the central bank said.