Zimbabwe ready to join London Bullion Market

Zimbabwe is now ready to re-join the London Bullion Market Association after producing more than 10 tonnes of gold annually in the past two years, Finance Minister Patrick Chinamasa.

The country has for the past six years been struggling to gain re-entry into the elite group of gold producers in the world after it was disqualified from LBMA in 2008 when production dropped to an all-time low of three tonnes, a figure far below the mandatory annual production of 10 tonnes required by the association.

Chinamasa said that Zimbabwe has been working hard to increase production in the mining sector.

Chinamasa said government was now working on making the diamond sector productive as he had been collecting next to nothing from the precious mineral sector.