Gold deliveries

Gold deliveries grew at an average rate of 5,77% for the first three months in 2012 to register a cumulative total of 3126,6 kgs, whilst the average growth rate for small-scale and primary producers stood at -3.2% and 8.3%, respectively during the same period, the African Development Bank (AfDB) has said.

In their monthly economic review on Zimbabwe released today, AfDB said month-onmonth gold deliveries in March 2012 registered positive growth for both small-scale producers and primary producers with 13,59% and 26,01% respectively.

"Overall gold deliveries grew by 23,4% from February 2012 to March 2012 deliveries. On the other hand, comparing gold deliveries in the first quarters of 2011 and 2012, cumulative gold deliveries for the first three months in 2012 grew by 21,64%," said AfDB.

AfDB said small-scale producers and primary producers grew by 19,2% and 22,3%, respectively in the first quarter of 2012 from the figures attained in the first quarter of 2011.

These positive growth rates can be attributed to the firming gold prices on the international commodity markets with the spot price averaging more than US$1600 an ounce and the positive macroeconomic outlook in the country that have allowed an increase in production capacity as compared to developments in 2011.

Post published in: Business

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