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Zimbabwe gold producer records fall in output |
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Friday, 22 August 2008 |
 Zimbabwe's main gold producer, RioZim Limited, Friday reported a sharp fall in production in the first half of the year, citing interrupted power supplies a nd machinery breakdowns, among other factors.
The company said output fell from 368 kilogrammes in the first half of last year to 255 kilogrammes in the same period this year.
"Operations at Renco Mine were affected by ZESA (local power utility) load shedd ing, plant breakdowns which were caused by lack of critical spares and a shortage of imported production inputs," RioZim said in a statement.
The company is Zimbabwe's biggest gold producer and, like most miners in the cou ntry, has been experiencing a downturn in fortunes because of the difficult operating economic environment in Zimbabwe.
Among other problems, inflation has shot up to more than 11 million percent, for eign currency is unavailable, power shortages are rampant and interest rates very high.
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