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 but if done right has handsome returns.
In this article, we look at the costs of getting gold mining claims in Zimbabwe.
- 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 ZWL1000.
- 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”.
- 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 to determine mineral content. The whole process will cost several thousands of USD.
ii. Informal process – Artisanal and Small-scale miners use experienced gold miners who have been in the business for some time. These use two copper wires. The wires will move from 0 degrees to 90/-90 degrees when they are moved on top of a gold belt. The “prospector” then marks where you should start digging. This can cost between 200 – 300usd.
Selling your gold
Gold in Zimbabwe is sold only to Fidelity Printers and Refiners (FPR) or its agents. FPR has 11 branches across the country and many registered gold permit holders. FPR branches do not accept less than five grammes therefore getting in touch with an agent will be best. The buying price is determined by the gold content in the bullion you will be submitting. Payment is in 100% USD and some agents will buy at a little less than the FPR price.
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