Zimbabwe gold export receipts up 53%

The value of Zimbabwe’s gold export receipts jumped by more than half to US$97.06m in April 2021 from US$63.42m reported in the same period last year due to improved bullion deliveries and firming prices on the international market.

This indicates a rise by 53 percent.

Apparently, according to the just released Mining Magazine for May 2021, Gold is expected to contribute USD 4billion, while platinum will contribute USD 3 billion, Chrome, Iron, and Steel USD 1 billion, Diamonds USD 1 billion, Coal USD 1 billion, Lithium USD 500 million, and other minerals USD 1.5 billion.

Diamond, a total of 239 639.90 carats valued at USD 35,2 Million were sold during the period January to February 2021 compared to the same period last year when 271 196.50 carats valued at USD 20. 9 Million was sold.

The Magazine reports that the diamond market is forecasted to improve in the short to medium term amid a drop in Covid-19 cases and reduced restrictions.

Diamond sales for the period January to December 2020 totalled USD 155.34 million, which was 6% lower than USD166.05 million realized in the same period in 2019.

The decline is attributed to the impact of the COVID-19 outbreak on production.

Meanwhile, Zimbabwe’s biggest platinum producer Zimplats’ Ngwarati mine is expected to be back in full production by the end of June 2021 as the production of 6E (six elements) (platinum, palladium, rhodium, ruthenium, iridium and gold) decline.

-Zwnews