Zimbabwe records drop in gold deliveries

Zimbabwe’s gold deliveries were 2,734 kilogrammes in May, down 5% from 2,876kg in May last year, but up from 2,387kg this April.

Large-scale miners delivered 1,056kg, lower than 1,070kg in May last year and 9.6% down from 1,168kg in April this year.

Small scale producers, who delivered the most gold, sold 1,678kg in May, lower than 1,806kg last May but 38% more than 1,218kg in April.

Zimbabwe expects to produce 40 tonnes this year, up from 30 tonnes in 2023, however, despite firming gold prices globally, miners are facing rising production costs at home.

The top exports of Zimbabwe are Gold ($4.48B), Nickel Mattes ($1.02B), Raw Tobacco ($835M), Ferroalloys ($449M), and Diamonds ($358M).

Zimbabwe’s major export markets are United Arab Emirates ($4.78B), South Africa ($1.47B), China ($625M), Belgium ($297M), and Mozambique ($191M).

Zwnews