MMCZ to widen gemstone market
Minerals Marketing Corporation of Zimbabwe (MMCZ) is looking to broaden the Zimbabwean Gemstone market by creating both a virtual and a physical market where gemstone buyers and sellers would meet for transactions under its supervision.
By Rudairo Mapuranga
Speaking to Mining Zimbabwe, MMCZ General Manager Mr. Tongai Muzenda said his organization was looking forward to market gemstones from Zimbabwe on an international market.
“The gemstone market in Zimbabwe is relatively small but we are looking regionally and yonder,” he said.
The MMCZ boss said that it was of importance for his organization to assist gemstone producers in finding a good market for their produce so that the sector would grow.
“It is our belief that by assisting the producer in the buying and selling of their products, markets ill be developed,” Muzenda said.
Muzenda said that MMCZ Public Relations and Marketing departments were working towards creating a virtual market for all gemstones in from Zimbabwe.
“As a matter of fact, the PR and Marketing functions are working on the internet-based selling,” the MMCZ boss said.
MMCZ recently announced that was going to appoint mineral agents for semi-precious stones to empower small-scale miners to extract and trade in the gemstones while also boosting the mining sector’s contribution to the fiscus.
Over the years, it has been observed that the country was losing millions of dollars in potential revenue through well-orchestrated international trafficking syndicates smuggling the semi-precious stones to neighbouring countries like Mozambique and Zambia.
Moreso, it is expected that the decision to liberalise the trading of the minerals would add impulsion in curbing corruption while bringing transparency in the gemstones market.
Already, the Zimbabwe Miners Federation, the mother body of small-scale miners in the country has agreed on joint efforts with MMCZ to roll out an outreach program to curtail rampant leakages of the semi-precious minerals.
The country is endowed with vast deposits of gemstones with a value estimated at US$20 billion.