Mineral earnings up 31pc

HARARE - Mineral earnings grew by 31 percent in the nine months period to September ahead of the same period last year, official data published by the Minerals Marketing Corporation of Zimbabwe (MMCZ) show.

Minerals earned $1,1 billion between January and September compared to $836 million in the same period last year.

The growth was in spite of a sharp decline in volumes which eased by 29 percent to 1,75 million metric tonnes.

“The variance shows the impact of firming global commodity prices for minerals such as platinum and gold,” Equity Axis said.

“The performance was, however, below budget having underperformed by 2 percent dragged by diamonds, coal and chrome concentrates among others.”

Recent data also shows that mineral exports grew by over 20 percent in the first eight months of the year which in turn pushed the net exports position up while lowering the external trade deficit position.

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