Gold production in Mozambique increased by 19% in the first six months of 2024, reaching more than 917 kilograms, compared to the 769 kilograms produced in the same period last year, according to the Ministry of Economy and Finance (MEF).
According to the MEF report, which details production and mining in the first half of the year, the increase represents 58% of the annual target of 1,583 tons of gold for 2024. Currently, each kilogram of gold is valued at approximately 73,000 euros on the international market, which means that production in the first half of the year is equivalent to around 66.9 million euros.
The previous year, Mozambique had already set a record in gold production, reaching more than 1.6 tons, exceeding the targets projected for 2023 and 2024. The MEF’s budget execution report revealed that the country produced 1,666.4 kilos of gold in 2023, a 32% increase on the 1,263.8 kilos produced in 2022, which was also a record.
This performance represented an achievement of 124% in relation to what was initially planned by the Mozambican government, also surpassing the projections for 2024, which forecast production of 1,583 kilos of gold.
According to the report, the expected growth for 2024, of 3% compared to the 2023 projections, is due to greater control of artisanal mining, as well as the positive performance of gold producing companies in the country.
“The gold production plan indicates growth of 3% compared to the projections for 2023,” highlights the document, which also mentions the company Explorator, Lda. and its partnership with Mutapa Mining Processing, Lda. as key factors for the increase in production, in addition to the resumption of activities by KD Prospero.
This news item provides a detailed overview of the performance of the gold industry in Mozambique, highlighting growth and the factors that contributed to the increase in production in the first half of 2024.
