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Gold Posted: Tue, 05 May 2009 [miningmx.com] -- Zimbabwe's gold output plunged 76% during the first four months of 2009 after most miners shut their operations last year at the height of a political crisis, Reuters reported on Tuesday. Gold producers are now re-starting production after new rules allowed them to sell gold directly to the world markets but uncertainty over ownership laws is likely to keep big mining houses away from exploring the country's rich mineral deposits. Chamber of Mines President, David Murangari, said the entire mining sector was struggling due to lack of capital to re-start and increase production. "The major challenge to the mining sector at the moment is financing needed to resume production as well as re-start exploration and development of new deposits. This is particularly so for gold mines," Murangari said.
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