Zimbabwe's Jan-July gold output down 26% yr-yr - CNBC Africa

Zimbabwe's Jan-July gold output down 26% yr-yr


by Reuters 0

Zimbabwe's gold production fell 26 per cent to six tonnes during the January-July period. PHOTOS: Getty Images/

This was announced by Mines Minister Walter Chidhakwa on Monday.

Chidhakwa did not give a reason for the drop in production but the Chamber of Mines has said gold mining companies are struggling with electricity shortages and lack of capital.

(READ MORE: Zimbabwe mining dividends to fund new national wealth fund)

Bullion sales account for more than 30 percent of the southern African country's total exports. Chidhakwa said 26 per cent of the mineral was being produced by small-scale miners.