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Cost of getting gold mining claims in Zimbabwe

Cost of getting gold mining claims in Zimbabwe

gold buying Zimbabwe

Mining in Zimbabwe has become the cake that everyone wants a slice of. It is a very viable industry with handsome returns, though not easy to partake in. Mining is steep in Capital requirements but if done right has extremely handsome returns.

In this article, we look at the costs of getting gold mining claims in Zimbabwe.

  1. You must first choose which province you want to conduct mining in. You then go to the provincial office to purchase a Prospecting license costing US$65. 
  2. After getting a prospecting license you engage the services of a trusted Mining Consultancy company. The company will charge between 300 to 500usd to peg claims for you. “Pegging is posting of prospecting notices and registration and establishment of temporal beacons before submitting an application for registration to the Ministry of Mines and Mining Development. When a Prospecting Licence holder has identified a mineral deposit that he/she is interested in, he/she appoints an agent or an Approved Prospector to peg on his behalf”.
  3. i. Formal process – After the pegging process, the miner (you) should now prospect for the minerals you intend to mine. You can engage the services of a geologist and later a diamond driller. After diamond drilling soils will be taken out for sampling. The soils will be sent to labs like ZIMLABS to determine mineral content. The whole process will cost several thousand US dollars.

ii. Informal process – Artisanal and Small-scale miners use experienced gold prospectors who have been in the business for some time. These use two copper wires. The prospector holds the copper wires facing forward and starts walking. If the prospector gets closer to the gold belt the wires start moving outward. The wires will move from 0 degrees to 90/-90 degrees when the prospector walks on top of a gold belt. The “prospector” then marks where the digging should begin. This can cost between 200 – 500usd. This method cannot quantify how much gold is underground however some successful small-scale mines were birthed from this method. Many miners have failed dismally from this method too.

Selling your gold

Gold in Zimbabwe is sold only to Fidelity Gold Refiners (FGR) or its agents. FGR has 11 branches across the country and many registered gold buyer permit holders. FPR branches do not accept less than five grammes therefore getting in touch with an agent is the best option. The buying price is determined by the gold content in the bullion one will be submitting. Payment to ASM is 100% USD and some agents might buy at a little less than the FGR price.

Important

See Also
diamonds

Never mine without a Mining Title. Even if you are a prospecting license holder Mining without a Mining Title is illegal Mining.


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