Zimbabwean Gold Output Surged in 2009

13 January 2010 (Last Updated January 13th, 2010 18:30)

Zimbabwe's gold output increased to 4.2t last year, representing a 35% hike compared to 3.1t produced in 2008, according to the Chamber of Mines. The hike in output can be attributed to the better economic situation in the country following the adoption of multiple currencies last year

Zimbabwe’s gold output increased to 4.2t last year, representing a 35% hike compared to 3.1t produced in 2008, according to the Chamber of Mines.

The hike in output can be attributed to the better economic situation in the country following the adoption of multiple currencies last year, which resulted in the reopening of a number of mines.

Chamber of Mines chief economist David Matyanga said the mining sector has had a remarkable recovery, according to AFP.

“However, the recovery process within the gold and mining sector in general was affected by the erratic power supply and the critical shortage of working capital,” Matyanga said.

In March 2009, Zimbabwe’s gold mining segment was deregulated.