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Zimbabwe slightly misses gold output target

Xinhua, January 16, 2015 Adjust font size:

Zimbabwe has marginally missed gold output for 2014 after deliveries reached 13.9 tonnes against a target of 14.5 tonnes, state owned Herald said on Friday.

Statistics from the Fidelity Printers and Refiners, Zimbabwe's sole gold buyer show that large-scale and small-scale miners delivered 9.96 tonnes and 3.94 tonnes respectively.

The output was slightly below 14 tonnes produced in 2013.

Despite missing the target, Zimbabwe surpassed the minimum 10 tonnes required to be re-accredited into the London Bullion Marketers Association.

Zimbabwe is known as one of Africa's main gold producers. Gold output reached an all-time low of three tonnes in 2008 from a peak of 29 tonnes 1999. However, the government is targeting to raise gold production levels to 30 tonnes per year by 2018. Endi