The Phaserl


Zimbabwe Gold production to drop below 17 tons

from BullionStreet:

Impoverished Zimbabwe’s gold production is likely to drop below the projected 17 tons this year, according to Chamber of Mines of Zimbabwe.

The industrial body in a statement said the production target may be difficult to achieve as commodity prices have not recovered much while systematic factors such as energy and sub-optimal cost structure remain prevalent.

Inadequate infrastructure, political uncertainty surrounding expected elections and sluggish export demand are also hindering mining operations, the chamber said.

Zimbabwe produced 14.8 tons of gold, earning the country $1.9 billion last year.

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