ZMF engages Government over gold millers’ debt

THE Zimbabwe Miners’ Federation (ZMF) is in discussion with the Government over the $500 million the gold millers owe the State.

In a recent interview with Sunday Business, Mines and Mining Development Deputy Minister Engineer Polite Kambamura said the Government was soon to close the majority of gold milling centres which owed the State monies amounting to $500 million after suspicions of underhand dealings and failure to account for the yellow metal processed at their plants.

ZMF spokesperson Mr Dosman Mangisi told Business Chronicle yesterday that his organisation has engaged the Government and gold millers over the outstanding $500 million.

“ZMF is currently in talks with both Government and the millers. We are hoping that the talks will yield favourable conditions for both parties,” he said.

“We are hoping for a positive outcome. Millers will own up and pay averting closure.”

The Ministry of Mines and Mining Development suspects that the country was producing close to 100 tonnes of gold, but the bulk of it was being lost to the black market as small-scale miners, who are producing the bulk of the mineral, were shunning official channels.

Last year deliveries to the sole buyer of gold, Fidelity Printers and Refinery (FPR), amounted to 33, 4 tonnes.

Mr Mangisi said it was disturbing that the country was losing a lot of gold which was needed for the country to attain foreign currency.

“Gold is one of the country’s main earners of foreign currency and it is very disturbing that a huge chunk is going unaccounted for and as ZMF we are trying to work out a strategy for miners to account for their gold,” he said.

The gold sector is one of Zimbabwe’s foreign currency generators among other commodities such as tobacco and platinum._The Chronicle

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