Monday, 31st July 2006 (2828 views)

A top Zimbabwean official has bemoaned the current state of his country's gold mining industry, the Zimbabwe Standard reports.

Chamber of Mines president Jack Murehwa told the African newspaper that over the last three years Zimbabwe's mining companies and the industry as a whole have suffered from uncompetitive government-set rates.

The result of this is that gold output has shrunk from 24 tonnes per year to just 11 tonnes per annum - a decline of over 50 per cent.

"The mining industry is not showing any signs of improvement," Mr Murehwa said.

"What has led to this situation is a scenario where one who takes his gold to the Reserve Bank of Zimbabwe gets far less than what he would have gotten on the parallel market."

Mr Murehwa, who was speaking at the official opening of Mine Entra at the Zimbabwe International Trade Fair in Bulawayo, claimed the government's lack of responsibility regarding these issues was leaving the industry on the verge of collapse if changes were not made.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.