RBZ Governor John Mangudya
Platinum has maintained its foothold as the cornerstone of the mining sector as it was the largest foreign currency generator in 2020 on the back of stability in the sub-sector, Business Times can report.
According to official data obtained from the Reserve Bank of Zimbabwe (RBZ) exports receipts for platinum hit US$1.8bn while gold raked in US$994.7m.
In fact, gold has slid to third position in terms of foreign currency generation owing to rampant smuggling in the sub-sector.
Diaspora remittances took the second spot after reaching US$1bn.
“Platinum export receipts reached US$1.77bn in 2020 while gold export receipts fell to the second in the mining sector and third overall as far as forex generation is concerned,” RBZ governor, John Mangudya said.