Zimbabwe earned $410 million in mineral exports in the first two months of the year compared with $300 million realised in the same period, in 2019.
This figure excluded gold earnings.
The 36% increase in earnings was driven by diamonds, PGMs and Ferrochrome, according to data seen by The Herald Finance and Business.
Image credit: kschneider2991 (Pixabay)
However, the revenue fell short of government set target of $422 million in the first two months of the year.
"We had budgeted $422 million for those two months up from about US$300 million in the same period last year," said an unnamed official cited by the daily.
"Of importance is that we had not anticipated the Covid-19 disturbances, which although having gone global around March have hit China since the start of the year. So you can clearly see that the increase is a sign of serious work.”
Diamonds are expected to add at least $1 billion to the $12 billion that Zimbabwe is expecting the mining industry to contribute to the country’s gross domestic product by 2023.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
