LocalNews

MMCZ mineral tonnage up 15% in 3rd quarter of 2018

 By Business Reporter

HARARE (Mining Index) – THE third quarter of 2018 saw the Mineral Marketing Corporation of Zimbabwe (MMCZ) generating overall mineral tonnage of 1,380,466 metric tonnes, up 15% relative to the same period in 2017.

The growth in mineral tonnage positively affected the corporations overall mineral revenue, which grew 6 percent to realise revenue of US$1.184 billion compared to the same period last year in which it raked in US$1.119 billion.

Mineral export revenue earnings. Graph courtesy of MMCZ.

“The cumulative to September 2018 mineral sales were worth US$1.184 billion derived from a total of 1.380,466 Mt. Compared to the same period last year when 1,204,778 Mt valued at US$1.119 billion were sold, the 2018 sales increased in both volume and value terms by 15 percent and 6% respectively,” revealed MMCZ in its quarterly bulletin.

The major earnings drivers for the period under review were PGM matte, PGMs concentrate, high carbon ferrochrome (HCFC), diamonds, chrome concentrates and nickel.

MMCZ announced that 1,938.28 Mt of white matte valued at US$60.968 million was realised during the period under review in comparison to the same period in 2017 when material valued at US$3.821 million was sold, giving a positive variance in value of 1495%.

A total of 9.873.52 Mt of PGMs concentrate valued at US$28.234 was sold during the relative to 9,396.29 Mt valued at US$28.863 million recorded during the same period last year, a positive variance of 5% in volume and a negative variance of 2% in value.

25,882 Mt of high carbon ferrochrome valued at US427.22 million was sold during the period under review being a decrease of 45% and 39% in volume and value terms respectively compared to the previous year.

In the diamond sector, 154,655.94 carats valued at US$6.070 million were sold, 948% higher in value and 2,823% in volume than the 2017 sales of the same period. ENDS//

Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close