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Zimbabwe aims to maximize gold revenue amid surge in world demand
By Tinei Tuhwe
NewZimbabwe.com
Bromsgrove, Worcestershire, England
Tuesday, September 17, 2024
Zimbabwe's mines ministry has launched the 2024 Second Gold Mobilisation exercise, aimed at ensuring compliance and maximizing revenue from the gold-mining sector.
Reports indicate that gold output is projected at 39 tons in 2024, up from around 33 tons in 2023, largely on the back of ongoing expansion projects and favorable prices.
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Gold revenues are expected to surpass US$3 billion in 2024.
Average capacity utilization for the gold sector is expected to reach 95% in 2024, up from 84% in 2023. ...
Speaking at the sendoff workshop in Harare, Mines Minister Winston Chitando said, "It is imperative to note that gold has long been a source of wealth and prosperity for Zimbabwe, and it holds immense potential to fuel our economic growth, create jobs, and improve the lives Zimbabweans.
"The global demand for gold is on the increase as the world is turning to gold as a safe haven."
He highlighted global demand for gold, which has driven prices up from $1,900 in September 2023 to $2,500 currently.
"The key to realizing our 2024 gold deliverance target of 35 tonnes is plugging leakages to side markets," he told the media. ...
... For the remainder of the report:
https://www.newzimbabwe.com/zimbabwe-aims-to-maximize-gold-revenue-amid-global-demand-surge/
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