Thursday, July 4th 01:18 PM IST

Low production cost to help Zimbabwe Gold mining

# Zimbawe gold  # ZMDC  # gold price  # Marange  

They added that there has been a general decline in commodity prices on world markets but Zimbabwean producers of the precious metal are in a buoyant mood, recording massive increases in production.

HARARE(BullionStreet): Zimbabwe's gold producing sector has remained largely unscathed by the falling price of the metal as the country is said to have low production costs, analysts said.

Despite the conditions, many apprehensive investors are holding off expansion and further exploration activities in Zimbabwe.

They added that there has been a general decline in commodity prices on world markets but Zimbabwean producers of the precious metal are in a buoyant mood, recording massive increases in production.

Experts are saying the restoration of certainty in the operating and regulatory framework will provide growth impetus to the sector, as Zimbabwe has low production costs while no capital is needed to market minerals.

Zimbabwe’s gold sector is on course to achieve this year’s target of 17 tonnes after a rebound in monthly production, they added.

The gold mining industry which had early this year experienced tough operating conditions leading to below expectations output is however on a rebound.

Zimbabwe Miners Federation says the recovery in output is an indication of commitment by miners to attain the projected 17 tonnes.

Zimbabwe’s gold mining industry is expected to play a critical role in overall contributions to the earnings and output for the resources sector.

Zimbabwe produced 13 tonnes of the yellow commodity last year.

How about a fully featured Android App for your business?

Bullion Street Newsletter