News / National
Zimbabwe miners raise alarm over alleged gold-tungsten fraud
5 hrs ago |
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The Zimbabwe Miners Federation (ZMF) has raised concern over a growing fraud scheme in the gold sector, where some Chinese nationals are allegedly adulterating gold with tungsten to inflate weight and value.
ZMF president Henrietta Rushwaya said the practice involves drilling into gold bars and inserting tungsten, a dense metal that closely resembles gold in weight, making detection difficult during routine inspections.
"This criminal conduct is depriving the nation of essential revenue," she said, calling for urgent investigations by security agencies to bring perpetrators to justice.
Tungsten's similar density to gold allows tampered bars to pass standard verification tests, raising concerns about the integrity of bullion entering official channels such as the Fidelity Gold Refinery.
Zimbabwe's mining industry remains a cornerstone of the economy, accounting for around 60 percent of national export earnings, with gold being one of its most critical foreign currency earners.
Industry officials say the alleged manipulation of gold deliveries could result in significant losses to the national treasury by inflating declared weights and siphoning value from state revenue systems.
The ZMF has urged law enforcement agencies to intensify investigations into the suspected network behind the scheme.
Chinese participation in Zimbabwe's mining sector has expanded significantly in recent years, particularly in gold, chrome and lithium extraction. While the investments have boosted output and employment in some areas, concerns have also been raised about regulatory compliance and environmental practices in certain operations.
Authorities say safeguarding mineral integrity is essential to protecting national revenue and ensuring transparency in the sector.
ZMF president Henrietta Rushwaya said the practice involves drilling into gold bars and inserting tungsten, a dense metal that closely resembles gold in weight, making detection difficult during routine inspections.
"This criminal conduct is depriving the nation of essential revenue," she said, calling for urgent investigations by security agencies to bring perpetrators to justice.
Tungsten's similar density to gold allows tampered bars to pass standard verification tests, raising concerns about the integrity of bullion entering official channels such as the Fidelity Gold Refinery.
Industry officials say the alleged manipulation of gold deliveries could result in significant losses to the national treasury by inflating declared weights and siphoning value from state revenue systems.
The ZMF has urged law enforcement agencies to intensify investigations into the suspected network behind the scheme.
Chinese participation in Zimbabwe's mining sector has expanded significantly in recent years, particularly in gold, chrome and lithium extraction. While the investments have boosted output and employment in some areas, concerns have also been raised about regulatory compliance and environmental practices in certain operations.
Authorities say safeguarding mineral integrity is essential to protecting national revenue and ensuring transparency in the sector.
Source - The Standard
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