The report was released last week to local and international investors.The revelation comes at a time when the gold producer price has reached an all time high of a staggering USD$1 800 a tonne of gold.
“Zimbabwe is now ranked number 69 out of 72 countries studied,” the report revealed. “It ranks above Afghanistan and Tobago.”
Zimbabwe will this year only produce a paltry one tonne of gold from a record 27 tonnes in 1997, the report added.
The Chamber of Mines of Zimbabwe (CMZ) has confirmed this revelation.
“This is the worst performance since the economic meltdown began in about 2007,” the report said. “Gold production in Zimbabwe has reached alarmingly low levels and will suffer especially now that mines were closed for business.”
The Minister of Economic Planning and Investment Promotion Tapiwa Mashakada described the poor showing as “very tragic indeeed”.
“This is very poor and we need to go up the ladder again as happened in the 1990s,” he said in Harare.
“Gold production must improve if we are to become an economic powerhouse again in Africa.”
The secret report was compiled in Canada by Fraser and Fraser International Limited which is among the top media houses analysing economies worldwide.
It will be made available to local and international mining investors.
The gold mining industry in the country was on the verge of total collapse before the formation of the inclusive government in 2008.