Gold sector formalisation agenda gathers momentum

By ZBC Reporter

GOVERNMENT is forging ahead with the gold sector formalisation agenda, with more than 12 gold buying centres now operational countrywide.

Key: Honourable Edmond Mukaratirwa (Parliamentary Portfolio Committee on Mines and Mining Development Chairperson)

A recent fact finding mission by the Parliamentary Portfolio Committee on Mines and Mining Development revealed that the establishment of gold centres has positively impacted deliveries of the yellow metal through formal channels.

Chairperson of the Portfolio Committee, Honourable Edmond Mukaratirwa explained the latest findings on gold buying centres.

We need to establish more gold buying centres. When we visited Masvingo , we realised that the gold buying agents  were overwhelmed by deliveries,  we need to map out issues of gold buying centres so much that they are nearer to the gold mining activities to ensure that we address the temptation to go to the black market,” he said.

Institute of Mining Research Chairman Mr Lyman Mlambo underscored the need for Zimbabwe to focus on rolling out more gold buying centres.

The gold buying centres  are definitely needed so as to plug off leakages while accelerating deliveries which are currently on a  positive trajectory, while  the nation has done more to the exercise I basically think  the ability to roll out more will benefit the nation,” noted Mlambo.

The gold mining industry which has been experiencing viability constraints is on a recovery path after government put in place incentives for deliveries.

 The mining sub-sector is expected to contribute over four billion United States dollars under the twelve billion United States dollar mining economy target by 2023.

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