Gold production remains below last year’s figures

New Ziana– Gold production increased by nearly 24 percent during the second quarter, but remained below that of the same quarter last year. Zimbabwe’s mining sector is highly diversified with close to 40 different minerals of which the top 10 most mined minerals are gold, platinum, coal, nickel, chrome, diamonds, black granite, copper, asbestos and silver, generating US$5.1 billion in 2021 and US$5.6 billion in 2022.

In its 2nd quarter 2024 report, the Zimbabwe National Statistics Agency said the output index for gold was 118.2, compared to 95.3 recorded in 1st quarter, reflecting a quarter on quarter percentage increase in production of 23.9. However, the year-on-year comparison shows a decrease in the index of 3.9 percent from 123.0 recorded in the 2nd quarter of 2023.

The Index of Mineral Production for 2nd quarter 2024 stood at 150.6, reflecting a year-on-year percentage increase of 3.7 compared to the 145.2 recorded during the 2023 2nd quarter. The quarter-on-quarter comparison shows a 1.9 percent increase in the index from 147.8 recorded in 1st quarter 2024. “Platinum output index for 2nd quarter 2024 was 129.5, reflecting a year-on-year decrease in the index of 6.84 percent, from the 2nd quarter 2023 value of 139.1,” said the report.

“Platinum output index for 2nd quarter 2024 was 129.5 reflecting a year-on-year decrease in the index of 6.84 percent, from the 2nd quarter 2023 value of 139.1. “Diamond recorded an output index of 255.4 in the 2nd quarter of 2024 compared to 261.2 in 2nd quarter 2023. The year-on-year comparison shows a decrease in the index of 2.2 percent. Quarter-on-quarter analysis shows a percentage decrease of 16.9, from 307.2 in 1st quarter 2024.”

Coal recorded an output index of 148.7 in 2nd quarter 2024, a decline of 67.8 percent from 461.6 recorded in 2nd quarter 2023. Quarter-on-quarter analysis shows a percentage decrease of 45.2, from 271.4 recorded in 1st quarter 2024. The 2nd quarter 2024 output index for copper was 139.3. The year-on-year index analysis shows a decrease of 1.72 percent, as production went down from 3 013mt in 2nd quarter 2023 to 2 961mt in 2nd quarter 2024.

The quarter-on-quarter comparison recorded a 19.8 percent decrease in the output index from 173.5 recorded in 1st quarter 2024. Lithium production index for 2nd quarter 2024 was 5 587.3 depicting a year-on-year increase of 1 010.4 percent from 503.2 in 2nd quarter 2023.

Production decreased to 884 860mt in 2nd quarter 2024 from 940 138mt in 1st quarter 2024, resulting in a quarter-on-quarter decline in the output index of 5.9 percent.. The 2nd quarter 2024 production index for granite stood at 1 737.3, recording a year-on-year percentage increase of 319.6 when compared to the 2nd quarter 2023 value of 414.1.

Nickel output index for 2nd quarter 2024 was 85.1, with the year-on-year comparison reflecting a decrease of 12.8 percent from 97.6 recorded in 2nd quarter 2023. The quarter-on-quarter comparison showed a percentage decrease of 7.0, attributed to a decrease in production from 4 046mt in 1st quarter 2024 to 3 761mt in 2nd quarter 2024.