BY TAWANDA MUSARURWA
"ZIMBABWE'S total gold deliveries for April declined by 2,9 percent to 1 112,4kg. The decline was largely caused by a dip in the fortunes of the primary producers. But the African Development Bank, in its monthly economic review, reported an increase in gold production by small-scale miners.
"Small-scale miners' deliveries increased by 16 percent while deliveries by primary producers declined by 7,3 percent," said the AfDB.
"Last month's gold deliveries were higher when compared with figures of the comparable period last year.
On a year-to-year basis, total gold deliveries grew by 24,4 percent, while deliveries from small-scale miners and primary producers grew by 66,9 percent and 15,7 percent, respectively.
"A positive gold output in the interim will ensure that producers benefit from the prevailing high gold prices.
"The international prices of precious metals appear to be largely benefiting from a constantly weak United States dollar and the eurozone financial crisis, as investors now favour investing in commodities.
"This should largely benefit the local gold sector, which this year expected to grow by 12 percent..."