NEW: Depressed global commodity prices weigh on Zimbabwe’s mineral sales

Online Reporter

ZIMBABWE sold 1,9 million tonnes of minerals worth US$1,5 billion in the first six months of the year, thereby missing a 6 percent volume target due to depressed global mineral prices.

In a statement, the Minerals Marketing Cooperation of Zimbabwe (MMCZ)’s acting general manager Dr Nomusa Moyo said the target to sell 2 million tonnes of minerals valued at US$2 billion during the period under review had not been met.

“Zimbabwe’s sole minerals marketing agent sold a total 1,9 million tonnes valued at US$1,5 billion in the first half of 2024, thereby missing first half revenue and volume projections, it has emerged,” read part of the statement.

The top three mineral contributors in terms of value in the first six months of 2024 were platinum group metals (PGM) matte, PGM concentrate and Zimbabwe’s primary lithium export, spodumene.