News / National
Zimbabwe poised for gold boom
12 Jul 2019 at 08:50hrs | Views
Zimbabwe is poised for a boom in gold production after Government announced that it will henceforth enforce a clause of the Mines and Minerals Act that gives the state the powers to forfeit mining titles being held for speculative purposes.
There is a general belief that a number of claim holders without capacity to mobilise personal capital are likely to hasten to look for investors, while those with financial muscle will just start exploiting the resources.
The move was announced by Mines and Mining Development Minister Winston Chitando in an interview with Star FM Radio on the station's programme, Minister's Desk on Monday evening.
Zimbabwe is this year targeting 40 tonnes of gold deliveries to state gold buying entity, Fidelity Printers and Refineries (FPR) on the back of a record 33,2 tonnes delivered last year.
There is a general belief that a number of claim holders without capacity to mobilise personal capital are likely to hasten to look for investors, while those with financial muscle will just start exploiting the resources.
Zimbabwe is this year targeting 40 tonnes of gold deliveries to state gold buying entity, Fidelity Printers and Refineries (FPR) on the back of a record 33,2 tonnes delivered last year.
Source - Business Weekly
