One of the country’s biggest mining concern, Caledonia Mining says first quarter (Q1) gold output was 13% below Q1 2022.
The compay says production was hurt by “mechanical breakdowns and logistical issues”.
According to the mining giant, these were resolved, and because of that April production is better than expected.
Caledonia adds that the first quarter is traditionally slow for gold miners due to wet weather.
Meanwhile, gold is one of Zimbabwe’s leading foreign currency earners. However, the mineral is also targeted for smuggling.
Recently, Al Jazeera exposed how politically connected individuals have been milking the country’s resources, especially gold.
The documentary tilted Gold Mafia also implicated the first family, a monkey which President Emmerson Mnangagwa is yet to shake off his back.
Caledonia Mining is an extraction, production and exploration company focused in Zimbabwe. With its primary asset boasting of 64% interest in the Blanket Mine (“Blanket”) in Zimbabwe
Zwnews
