Zimbabwe's Q1 2024 Mineral Output Shows Mixed Results
The Chamber of Mines of Zimbabwe reported mixed mineral output for Q1 2024, with increases in platinum, lithium, and ferrochrome. However, declines were noted in gold, diamonds, and coal, highlighting ongoing challenges in the mining sector.
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In Q1 2024, Zimbabwe's gold output decreased by 2% to 6,638 kg, while diamond production fell by 13% to 1.4 million carats and coal dropped by 34% to 1.05 million tonnes. Conversely, platinum production rose to 4,987 kg from 4,753 kg, with lithium increasing by 16% to 940,138 metric tonnes.
The Chamber of Mines of Zimbabwe (CoMZ) anticipates a recovery in mineral output for the remainder of the year, contingent on addressing power supply and foreign currency issues. Risks include fragile power supply and high operational costs. Companies are exploring solar power solutions to mitigate energy constraints.
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