Zimbabwe: Mineral Earnings Clock U.S.$1.1 Billion
THE mining sector generated US$1,1 billion in the first seven months of 2019 against a projected target of US$1,2 billion, according Minerals Marketing Corporation of Zimbabwe (MMCZ).
MMCZ, which falls under the Ministry of Mines and Mining Development, is an exclusive agent for marketing and selling of minerals produced in Zimbabwe except silver and gold.
MMCZ general manager Tongai Muzenda, said mineral earnings for the period under review slightly missed target due to a number of challenges bedevilling the mining sector.
“Total sales for the period January 2019 to July 31 were $1,067 billion compared to $910 million during the comparable period last year,” he said in a telephone interview.
“Mineral earnings for the period January to July this year were off our target of $1,27 billion and the biggest challenge being the prevailing power cuts facing the mining sector and the country at large, as power cuts deterred production.