Mozambique’s gold production dropped 2% in 2024, totaling 1,626 kilograms (1.6 tonnes), compared to 1,666 kilograms in 2023, according to data from the Ministry of Finance.
Despite the decline, output exceeded the government’s official estimate of 1,583 kilograms, reaching 103% of the target.
Mozambique had set a record high in 2023, with a 32% increase over 2022’s production of 1,263.8 kilograms. However, the 2024 target of 3% growth over 2023 projections was not achieved.
At an estimated €87,000 per kilogram, Mozambique’s 2024 gold production is valued at approximately €141.5 million on the international market.
The decline in 2024 was attributed to shifts in artisanal mining control and fluctuations in the performance of key mining companies.
Companies such as Explorator, Lda., with its partner Mutapa Mining Processing, Lda., and the resumed operations of KD Prospero, played a crucial role in overall production.
While Mozambique’s gold sector remains strong, challenges in meeting expected growth targets highlight the need for continued investment and regulatory improvements.
