Mineral sales volumes increased by 34% to 922 108 tonnes valued at $780,56 million in the first-half of the year, with most minerals registering a growth, latest statistics from the Minerals Marketing Corporation of Zimbabwe (MMCZ), have shown.
The Statistics show that a number of minerals in the first half registered an increase in terms of volume and value.
For instance, from January to June 2018, a total of 922 108 tonnes valued at $780,56 million were sold compared to the same period last year when a total of 688 443 tonnes valued at $763,34 million were sold.
“Therefore, sales increased in both volume and value by 34% and 2% respectively,” MMCZ corporate communications executive Pretty Musonza said.
For the month of June, MMCZ highlighted that a total of 157 654 tonnes valued at $122,15 million were sold compared to the same period last year when a total of 102 607 tonnes valued at $116,77 million went into the global market.
Sales grew in both volume and value by 54% and 5%, respectively.
The increase in minerals was good considering it provides the economy significant forex.
Cumulatively to June, a total of 108 802 tonnes of chrome ore lumpy valued at $11 million were sold compared to the same period last year when 31 032 tonnes valued at $4,4 million were sold, giving an increase of 251% and 153% respectively.
“The increase was a result of a significant production improvement,” Musonza said.
In the same period under review, a total of 296 475 tonnes of chrome concentrates valued at $44,8 million were sold compared to the same period last year when 201 836 tonnes valued at $38,6 million were sold, giving an increase of 47% and 16%.
Cumulative sales for high carbon ferrochrome (HCFC) were 1% higher in volume with 151 107 metric tonnes, having been exported compared to 149 701 tonnes sold in the same period last year.
In value terms, the $139,99 million achieved during first half sales were 15% lower than last year sales which totalled $165,20 million.
In terms of nickel, a total of 30 326 tonnes valued at $34,37 million were sold during the period under review over the 2017 comparative when 34 607 tonnes valued at $15,17 million were sold, a decrease of 12% in volume yet an increase of 20% in value.
“This increase in revenue for first half of 2018 is attributable to the firming up of prices during that period, where the average price was $1 133,38 compared to the $438,26 achieved in the first half of 2017,” she said.
Other increases were in the platinum group metals (PGMs) concentrates, which grew 3% to 74 356 tonnes while coke increased 67% to 42 911 tonnes raking in $11,74 million.
“The increase in volume (PGMs concentrates) can be imputed to the export of concentrates by Zimplats during the period when the smelter was under scheduled maintenance,” Musonza said.
Notable decreases were in white matte, which tumbled 14% in volume and 1% in value after a total of 5 333 tonnes valued at $268,68 million were traded during the period under review compared to the same period last year.
“The drop in matte exports is attributable to the smelter shutdown during the end of 2017. However, the firming up of prices since the fourth quarter of 2017 contributed to the higher average price per tonne of all the elements in the PGMs basket, hence the disproportionate decrease in value,” she said.
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