Zimbabwe's gold production fell by 30% in the first quarter

It is reported that Zimbabwe's gold production fell 30% to 3.98 tons in the first quarter, while its export earnings also declined, according to data released by Zimbabwe's central bank on the 23rd.

(RBZ), the reserve bank of Zimbabwe, did not say why gold production fell, but small mining companies, which account for nearly half of the country's gold production, said the flooding of shafts during this period was the main reason.

The African country faces a shortage of foreign exchange, with gold exports falling to 2 million ounces in the first quarter from 2.26 million ounces a year earlier, RBZ said.

In 2020, Zimbabwe's gold production fell by 1 percent to 19 years, and small mining companies paid illegal private traders more than the country's only gold and silver purchaser, the central bank.