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Zimbabwe's gold output up 55.5% in 2021 - cbank

Kitco News

HARARE, Jan 12 (Reuters) - Zimbabwe's gold production rose by 55.5% in 2021, central bank data showed on Wednesday, as government moves to incentivise miners bore fruit. The country produced 29.6 tons of gold versus 19 tons a year earlier, the Reserve Bank of Zimbabwe (RBZ) said in a statement, adding total production figures would rise further after adding volumes from platinum metals group miners which also produce gold. Gold producers are allowed to keep 60% of their sales in foreign currency, with the balance being converted into Zimbabwe dollars.

But the government last year allowed miners to keep up to 80% of their gold sales proceeds in foreign currency if they increased production.

"The scheme has had a significant positive impact on gold deliveries," RBZ said.

(Reporting by Nelson Banya; editing by Promit Mukherjee and Jason Neely)

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