Gold production in Mozambique fell by 2% in 2024, compared to the previous year, to just over 1.6 tonnes, according to official data to which Lusa had access on Monday.
According to a report by the Ministry of Finance, which details mining production and extraction from January to December, Mozambique produced almost 1,626 kilograms of gold in this period, compared to 1,666 kilograms in 2023 and 1,228 kilograms in 2022.
Mozambique’s gold production still represents 103% of the government’s official estimate for 2024, which was 1,583 kilograms.
Each kilogramme of gold is currently worth around €87,000 on the international market, so Mozambique’s total production for 2024 represents almost €141.5 million.
Mozambique had already broken its gold production record in 2023, with more than 1.6 tonnes, more than projected, according to budget execution data previously reported by Lusa.
According to a report by the Ministry of Economy and Finance with the 2023 budget execution, the country produced 1,666.4 kilograms of gold, an increase of 32% compared to 1,263.8 kilograms in 2022, a record amount at that time.
This was also a realisation of 124% compared to what Mozambique’s government initially planned for 2023, but it was also above the later projections for 2024.
“The gold production plan indicates a growth of 3% compared to the projections for the year 2023,” according to the documents supporting the proposal for the Economic and Social Plan and State Budget (PESOE) 2024, a prospect that did not materialise.
The document adds that this expected growth results from “greater control of artisanal mining” and the “positive performance of the country’s producing companies”.
“With a greater focus on the company Explorator, Lda. because, on one of the exploration fronts, the company has Mutapa Mining Processing, Lda. On the other hand, we have the resumption of activities by the company KD Prospero,” the document said.
Lusa
