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Zimbabwe's gold output up 30 pct in 2021

HARARE
2021-12-24 11:24

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HARARE, Dec. 23 (Xinhua) -- Zimbabwe's gold deliveries in 2021 increased by 30 percent to over 25 tonnes, buoyed by incentives to boost viability.

There has been progress in terms of overall deliveries of the commodity this year compared to last year, state broadcaster ZBC reported Thursday, citing Fidelity Printers and Refiners, the sole buyer of the yellow metal in the African country.

"There are several factors that have led to the growth trajectory with the key factor being the incentives that were put in place to sustain recovery," said Wellington Takavarasha, CEO of Zimbabwe Miners Federation.

Small-scale miners accounted for the bulk of deliveries, Takavarasha said.

Mines and Mining Development Minister Winston Chitando is also optimistic about a further increase in gold output next year, indicating a target of 50 tonnes for next year.

Gold is a key foreign currency earner for Zimbabwe, accounting for over 70 percent of the nation's annual hard currency inflows.
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