The federal government will deploy monitoring groups to mines to make sure all output flows to FGR, a plan that builds on a gold-tracing system introduced in Could. Zimbabwe goals to supply 35 tons of the metallic this yr, up from 30.1 tons in 2023, Chitando informed reporters within the capital, Harare.
“The unlawful extraction and commerce of gold undermines our efforts to attain these advantages,” the minister stated. “The important thing to realizing this goal is the plugging of leakages to aspect markets.”
Within the newest effort to plot a reputable nationwide forex, the southern African nation in April changed its greenback with the ZiG, brief for Zimbabwe Gold. The ZiG is backed by gold, valuable minerals and money reserves.
“Our forex is anchored on gold,” Chitando stated. “Therefore the necessity to make sure that all of the gold commerce is finished by Constancy Gold Refinery.”
Within the first eight months of this yr, Zimbabwe produced 21 tons of gold, in contrast with 19.3 tons a yr earlier.
(By Godfrey Marawanyika)