- March 14, 2020
- Posted in LOCAL
Most (if not all) Applications for the buying and selling gemstones on behalf of the MMCZ were unsuccessful mainly due to potential dealers not being able to meet the financial requirements. This was confirmed by those who were called to a meeting by the institution.
Interested individuals warmed up to the idea and saw it as the opening up the gemstone buying and selling market. MMCZ had invited interested citizens to be agents who will buy and sell gemstones on behalf of the Corporation. The move which aims at bringing in transparency and curbing corruption in the gemstone market had attracted the attention of Miners and Zimbabwean citizens from all walks of life.
Although the exact financial requirements have not been made public indicators are small-scale miners who are the primary gemstone producers are highly unlikely to qualify as they had taken the most interest in gemstone dealing.
Many African countries openly deal in Gemstones without stringent requirements creating opportunities for the citizenry. Below is an example of children selling their stones at an open market in Mozambique.
The following was the Invitation by MMCZ to local gemstone marketers.
Interested Zimbabwean citizens (individuals and Corporates) are invited to submit an expression of interest to be considered and licensed as MMCZ sub-agents to purchase colored gemstones around the country and selling same through the Corporation as per MMCZ act chapter 21:04 MMCZ Gemstones sub agents are appointed in terms of SI 256 of 2019. The function of an MMCZ gemstone sub-agents is to buy colored gemstones from small scale miners within Special Grants as defined in the SI 256 of 2019 and sell the colored gemstones through Minerals Marketing Corporation of Zimbabwe.
Terms of reference of the MMCZ Gemstones Sub-agents:
1. The MMCZ Gemstone Sub-agent shall keep in the prescribed form a register in which he/she shall enter, in respect of the colored gemstones dealing, such details relating to-
(a) the amount thereof purchased during the month
(b) the amount thereof held by him/her at the end of the preceding month
(c) the date of transaction
(d) the name and address of the other party to the transportation
(e) the nature and mass of the colored gemstones involved
(f) the price, if any paid or received
2. The MMCZ Gemstone Subagent shall later than the tenth day of each month submit monthly returns to MMCZ in the prescribed format in respect of gemstones purchased in the prior month.
3. If the MMCZ Gemstone Subagent is in possession of colored gemstones in excess of what is recorded in his/her register in terms of SI 256 of 2019 he/she shall be deemed to be in unlawful possession of such excess unless he proves to the contrary
4. An MMCZ Gemstone Subagent shall be obliged to sell whatever he/she would have acquired as per Minerals Marketing Corporation of Zimbabwe (MMCZ) act Chapter 21.04
5. Any person who contravenes subsection (1) shall have their licenses canceled.
To be considered for selection, prospective citizens must meet the following criteria:-
1. Must be Zimbabwean Citizen (individual or Corporate)
2. Have sufficient knowledge of gemstones e.g identifying, grading and pricing.
3. Ability to self-fund operations (proof of funds)
4. No criminal record- police clearance
5. An adequate understanding of the Mines and Minerals Act and MMCZ Act
6. Proof of resident/ secure offices.