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Zimbabwe's Mineral Exports Rake in $403M


Post Date: 30 Jun 2010    Viewed: 449

Zimbabwe exported a total of 426,359 tons of various minerals valued at about $403 million in the first five months of 2010-up from $191.9 million realized during the same period in 2009, official figures said.


The Minerals Marketing Corporation of Zimbabwe data, quoted by All Africa, indicated that Harare sold a total of 412,086 carats of diamonds, valued at $23.45 million, between January and May.


The report noted that diamond sales from Chiadzwa were still being delayed, as Zimbabwe has yet to receive Kimberly Process certification for gems harvested in the area.


Official Harare estimates show that Zimbabwe is sitting on Chiadzwa diamond stock of about 400,000 carats, worth an estimated $1.7 billion.


Platinum group metals from Zimplats accounted for the bulk of Zimbabwe's mineral sales as 163,316 ounces valued at $175.75 million were exported. PGMs concentrate from Mimosa Platinum mines were valued at $129.6 million.


Chrome exports came to $16.5 million, coal to $3.2 million and nickel to $23.4 million.


Zimbabwe's economy is expected to add 7% in 2010r, buoyed by strong performance of the mining sector. The sale of Chiadzwa diamonds is also expected to improve Government revenue.


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