Business / Economy
Zimbabwe seeking readmission to the London Bullion Market Association
10 Nov 2011 at 05:17hrs | Views
ZIMBABWE was negotiating its readmission to the London Bullion Market Association (LBMA), according to state-owned Zimbabwe newspaper, the Herald.
Citing deputy mines minister, Gift Chimanikire, the Herald said readmission could be next year as the country was expected to produce between 15 and 17 tons of gold this year.
"By next year we aim to be re-licensed by LBMA. This means Zimbabwe will be able to sell refined gold with more value," Chimanikire is quoted by the Herald to have said.
The LBMA cancelled Zimbabwe's membership in 2008 after it produced only three tons of gold, the Herald said.
Citing deputy mines minister, Gift Chimanikire, the Herald said readmission could be next year as the country was expected to produce between 15 and 17 tons of gold this year.
"By next year we aim to be re-licensed by LBMA. This means Zimbabwe will be able to sell refined gold with more value," Chimanikire is quoted by the Herald to have said.
The LBMA cancelled Zimbabwe's membership in 2008 after it produced only three tons of gold, the Herald said.
Source - www.miningmx.com
