Zimbabwe's quarterly gold production surged to more than one and a half tonnes on the back of increased mine output, the Chamber of Mines said on Tuesday. The chamber said the country's quarterly production jumped to 1.667 tonnes, from zero production during the same period last year.
"By year-end we are looking at between 6,000 to 7,000 kilograms given that things have somewhat stabilised in the industry," Chamber of Mines chief economist David Matyanga told AFP. "Monthly production figures keep going up and down like a yoyo, but the problems of power supply, working capital and manpower are still affecting the industry.
"However when compared to the same period last year when there was no production, this year seems to be better for the industry in terms of production." In January, the gold sector produced 519 kilograms, followed by 487 kilograms in February and 661 kilograms in March.
Matyanga suggested that the industry could approach the power supplier "and pay more for the supply of electricity to ensure a reliable power supply." Finance Minister Tendai Biti has projected that the mining industry sector could grow by 40 percent this year. In 2008, most of the country's mines which were placed either under care and maintenance or closed down, due to hyperinflation and stringent export regulations.