Bloomberg reported that mineral production from Zimbabwe, which has the world’s second biggest platinum and chrome reserves after South Africa, doubled last year to USD 1.38 billion as the country’s economy recovers from a decade long recession.

Mr John Robertson economics of Harare based said that the southern African nation boosted output from USD 672 million in 2009. Platinum production rose 26% to 8.6 tonnes in 2010 earning USD 409 million while gold generated USD 380 million from 9.6 tonnes compared with USD 157 million from 4.9 tonnes a year earlier.

Mr Robert Mugabe president of Zimbabwe African National Union, Patriotic Front and PM Mr Morgan Tsvangirai’s Movement for Democratic Change formed a coalition government in 2009 helping to end a political crisis and lift the economy out of recession. Platinum and gold production will probably reach 12.5 tonnes and 13 tonnes respectively this year with total mining output expected to grow 44%.

Mr Robertson said that the government wants local Zimbabweans to benefit more from the increase in output particularly from mines. Foreign owned miners like Zimplats Limited, Rio Tinto Plc and Anglo American Plc were on March 28 given 45 days to show how they will dispose of 51% of their Zimbabwe operations. Zimbabwe produced 154,336 tonnes of high carbon ferrochrome worth USD 135 million in 2010 more than double the 72,223 tonnes in 2009.

By Bloomberg