Mozambique’s Gold Production Surges 19% in First Half of 2024
Mozambique’s gold production increased by 19% year-on-year in the first half of 2024, reaching over 917 kilograms, according to official data accessed by Lusa.
A report from the Ministry of Economy and Finance, detailing mining production in the first half of the year, revealed that this figure compares to nearly 769 kilograms produced in the same period of 2023. It also represents 58% of the 2024 target of 1,583 kilograms.
With each kilogram of gold valued at approximately €73,000 on the international market, Mozambique’s total production in the first half of the year amounts to nearly €66.9 million.
Mozambique had already set a record in gold production in 2023, surpassing 1.6 tonnes—exceeding projections for both 2023 and 2024, according to budget execution data previously reported by Lusa.
In 2023, the country produced 1,666.4 kilograms of gold, marking a 32% increase from the 1,263.8 kilograms produced in 2022, which was also a record.
This achievement represented 124% of the target initially set by the Mozambican government and exceeded the projections for 2024, which anticipate a production of 1,583 kilograms.
The 2024 Economic and Social Plan and State Budget (PESOE) documents indicate that the gold production plan aims for a 3% growth compared to 2023 projections.
This growth is attributed to “greater control over artisanal mining” and the “positive performance of the country’s producing companies.”
The document also highlights the increased focus on Explorator, Lda., especially in collaboration with Mutapa Mining Processing, Lda. Additionally, it notes the resumption of activities by KD Prospero, further contributing to the growth in gold production.
