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THE country’s gold output last month increased by 75 percent to 2,924 tonnes from 1,668 tonnes in May on the back of incentives availed by the Reserve Bank of Zimbabwe (RBZ).

Latest statistics released by Fidelity Printers and Refiners (FPR), which is the country’s sole gold buyer, indicate that last month’s output was 107 percent above 1,409 tonnes achieved in June 2020.

For the six months period to June, small scale miners and primary producers’ output was 9,954 tonnes compared to 10,611 tonnes during the corresponding period last year.

Zimbabwe Miners Federation chief executive officer, Mr Wellington Takavarasha, whose organisation represents the interest of small-scale miners said: “On average, small scale miners produced 1,7 tonnes of the 2,924 tonnes produced last month.

“The increase may be attributed to the incentives the Reserve Bank through FPR has put in place and also some improvement in the cash flow, thus, their (FPR) price was now commensurate with the international market price.”

On the international market, gold price is presently fluctuating between US$55 and US$58 per gramme. – @okazunga

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