Thursday, 27th January 2005 (3521 views)

Gold production in Africa has reached a three-year high, achieving total output of 19,675 kilograms at the end of 2004.

According to provisional figures from the Zimbabwe Chamber of Mines, the precious metal produced last year were valued at around $1.3 trillion.

One factor boosting production and profits is lower working capital costs caused by a lower concessional interest rate per year, according to the Daily News.

However, gold producers are now looking for a review of the gold price and have raised concerns about the new minimum wage introduced for the industry.

 

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