Zimbabwe gold output down 17 pct in 2019

Source: Xinhua| 2020-02-17 21:50:07|Editor: huaxia

HARARE, Feb. 17 (Xinhua) -- Zimbabwe's gold output fell 17 percent in 2019 to 27.66 tonnes, down from 2018's 33.29 tonnes, Reserve Bank of Zimbabwe Governor John Mangudya said on Monday.

The central bank governor attributed the decline to electricity shortages, gold leakages and inadequate equipment for small-scale miners, who have in recent years become major producers of the precious metal.

Of the 27 tonnes, major gold producing mines contributed 10.181 tonnes while small-scale miners contributed 17.478 tonnes, Mangudya said.

He said future efforts to increase gold deliveries to the sole gold buyer, Fidelity Printers and Refiners, will include enhanced capacitation of gold producers and formalization of artisanal miners, coupled with rigorous monitoring of gold production and marketing.

Gold is one of Zimbabwe's major foreign currency earners.