- Gold exports in October reached a historic high of US$296.85 million, representing 42.4% of all exports
- This has driven year-to-date gold value to US$1.87 billion
- To meet the annual target of 35 tonnes, Zimbabwe needs to produce 6.8 tonnes in November and Decemberv
Harare- Gold has recorded a historical high of US$296.85 million in exports value in October according to the latest data released by Zimstat in terms of value.
Of all the exports, gold accounted for 42.4% sustaining its position as the most exported commodity in Zimbabwe.
This follows a record monthly output during the month as well. Zimbabwe's gold production for October totaled 4,167 kg, comprising 3,143 kg from small-scale miners and 1,024 kg from large-scale miners driving up the value.
This has brought year-to-date gold value at US$1.87 billion in 10 months against US$1.80 billion in the entire year of 2023.
The country is targeting to produce 35 with year to date production at 28.2 tonnes against 26.42 last year.
To achieve the target of 35 tonnes, Zimbabwe needs to produce 6.8 tonnes in the remaining two months (November and December), which translates to an average of 3,400 kilograms per month.
Given the current rate of output, this is achievable, provided there are no rains to disrupt small-scale mining operations.
Thus, the key to reaching this target lies in the continuation of the prolonged dry spell experienced earlier, as its absence could hinder mining activities moving forward and sustainable power supply.
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