MMCZ opens-up the Gemstone market
Minerals Marketing Corporation of Zimbabwe (MMCZ) has opened up the gemstone buying and selling market by inviting interested citizens to be agents who will buy and sell gemstones on behalf of the Corporation. The move which aims at bringing in transparent and curb corruption in the gemstone market has attracted attention of Miners and Zimbabwean citizens from all walks of life.
Rudairo Dickson Mapuranga
Zimbabwe has for a long-time lost millions of dollars when gemstones were being picked and shipped out by foreign nationals without the knowledge of the government of Zimbabwe through MMCZ.
The recent gemstone policy which has seen MMCZ inviting citizens of Zimbabwe to become sub-agents will curb the leakages of gemstones in Zimbabwe at the same time expanding the sector.
The coming in of the policy has been hailed as a move to increase mineral production in the country thereby a move which aids to the USD 12 billion mining industry by 2023.
The following is the Invitation by MMCZ to local gemstone marketers.
Interested Zimbabwean citizens (individuals and Corporate) are invited to submit 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 from 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 coloured 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 prescribed format in respect of gemstones purchased in the prior month.
3. If the MMCZ Gemstone Subagent is in possession of coloured 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 licences cancelled.
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. Adequate understanding of the Mines and Minerals Act and MMCZ Act
6. Proof of resident/ secure offices.