In January, Zimbabwe’s gold exports reached a record increase of 135.6 %, according to data released by the central bank.

The increase in exports of the precious metal in January was driven by “strong international prices,” providing the country with record revenues derived from “its mineral wealth and strengthening the stability of its gold-backed currency.”

Meanwhile, with over three tons of gold extracted, “artisanal and small-scale mining continues to be the backbone of the sector, representing approximately 75 % of deliveries to the authorized refinery.”

The data also reflects that large mining companies produced 808.4 kilograms of gold; that is, a smaller proportion of the national total. However, the figure remains significant for both the domestic market and exports.

In the international context, the sector “maintains strong appreciation and recently surpassed the $5,000 per ounce mark.” Analysts project that the upward trend in gold prices will continue this year, “reinforcing its appeal as a safe and strategic asset.”

M.Pino

Source: tvbrics

(Reference image source: Jingming Pan on Unsplash)

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