Gold Production To Increase

Friday, 14 November 2014 17:13

The government has unveiled new measures to increase gold production and effectively account for sales to Fidelity Printers and Refiners.

 

Concern is being raised that despite the rebound in gold production to levels above 10 tonnes since 2009, current deliveries to Fidelity are still below pre-millenium rates that exceeded 20 tonnes.
Government has therefore introduced new policies to increase gold capacity such as an

 

  • establishment of a gold compliance unit,
  • setting up of gold service centres,
  • introduction of artisanal mining permits,
  • registration of milling plants and
  • the setting up of provincial advisory boards.

The Minister of Mines and Mining Development, Cde Walter Chidhakwa, says the new measures are also aimed at facilitating increased gold production.
“We are introducing the new measures for the benefit of the gold mining industry,” said Cde Chidhakwa.

The government is introducing the new measures to ensure that Zimbabwe rebuilds gold reserves, says the Minister of Finance and Economic Development, Cde Patrick Chinamasa.

“Gold reserves are critical in restoring normalcy in the economy,” said Cde Chinamasa.

In terms of the new measures, the government seeks to solve challenges affecting gold miners in the form of a decline in global prices, inadequate funding, power shortages as well as  high regulatory fees and levies.

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