Gold production in Mozambique increased by 19 per cent in the first half of 2024, reaching 917 kilograms, according to Lusa. In the same period of 2023, production was 769 kilograms.
According to the report by the Ministry of Economy and Finance, this growth corresponds to 58% of the annual target of 1583 tonnes of gold for 2024. Each kilogramme of gold is currently valued at around 5 million meticals on the international market, which means that production in the first half of the year represents approximately 4.6 billion meticals.
In 2023, Mozambique achieved record gold production, with 1.6 tonnes, exceeding forecasts for last year and for 2024. This 32 per cent increase on the 1,263.8 kilograms produced in 2022 also exceeded the targets set by the government.
The report by the Ministry of Economy and Finance points out that the expected growth for 2024 is 3 per cent compared to the forecasts for 2023. This increase is attributed to greater control of artisanal mining and the positive performance of production companies, with Explorator, Lda. standing out, as well as the resumption of KD Prospero’s activities. Explorator, Lda. operates with Mutapa Mining Processing, Lda. on one of the exploration fronts.
