adminto 13 474kgs compared to 2011, Reserve Bank of Zimbabwe statistics show.
Prices for the precious mineral also firmed 2,2 percent in the year from an average of $1 656 per ounce in January 2012, to an average of $1 696 per ounce in December 2012
The RBZ attributed the increase in gold deliveries to firming international prices.
“Gold prices continue to benefit from the metal’s safe haven status, particularly in view of global economic turbulences that characterised the greater part of 2012,” said the bank.
The RBZ, however, said annual gold deliveries fell short of the target of 15 tonnes for the year.
For 2013, the target has been set at 17 tonnes. The increase in gold output is expected to boost Fidelity Printers and Refiners’ bid to rejoin the London Bullion Market Association (LBMA), nearly five years after the country was suspended from the association for failing to meet the minimum membership requirements.
Zimbabwe lost its membership of the LBMA in 2008 after consecutive years of declining gold output.
LBMA accreditation certifies the quality of gold sold by members who must produce a minimum of 10 tonnes per annum to maintain membership. — New Ziana
Bongani Ndlovu
Online Reporter