Zimbabwe Mining Production Increased 20+ Percent Due to Global Demand for Lithium, Nickel, Gold and Platinum

Mining production in Zimbabwe increased by over 20 percent during the year's second quarter due to global demand for lithium, nickel, gold, and platinum.

Zimbabwe National Statistics Agency (ZIMSTAT) released its Index of Mineral Production for the second quarter of the year, showing an increase of more than 20 percent on last year's 119 percent.

As a result of the supply deficit on international markets, the platinum mining industry ramped up production, resulting in an over 25 percent increase in output.

The statistics show that gold remains the largest foreign currency earner and continues to facilitate growth in mineral production, with output rising by over 26 percent during the review period.

Despite some limited operations translating into marginal decreases in quarter-to-quarter output trends, investments in the diamond value chains have resulted in the surging of diamond output.

ZIMSTAT data indicates that overall production increased by over 12 percent due to the influx of new entrants and diversified mining entities within the coal mining sector.

While authorities continue to revitalize copper mining in Zimbabwe, the mineral commodity is also slowly recovering, with signs of growth in output despite a huge capital outlay.

In the Mining Index, lithium, which is emerging as a key enabler of the mining sector, continues to be characterized by an increase in investment and exploration.

In addition, granite mining investments have contributed to an increase in production of over 43 percent.

According to the Mining Production Index, production has also increased due to favorable nickel prices on the international market.

By the end of the year, Zimbabwe plans to have a mining sector worth 12 billion US dollars.