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Zimbabwe's gold-backed digital tokens mop up $34bn excess liquidity
THE Reserve Bank of Zimbabwe (RBZ) has mopped up $34 billion through gold-backed digital tokens, which are part of measures to reduce liquidity in the market and expand the value-preserving instrument...Published: 06 Jun 2023 at 06:21hrs | | by Staff reporter
$14 billion gold digital tokens bought so far in Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) has said a total 139 570 982 milligrammes (139,57kg) of gold-backed digital tokens valued at $14 077 billion were bought during the initial sale, which opened on Mon...Published: 13 May 2023 at 18:25hrs | | by Staff reporter
'Gold tokens will unlikely save Zimdollar'
THE recently-announced gold-backed digital tokens will neither strengthen the local currency nor reduce chronic inflation because of waning market confidence and trust in government, an economic watch...Published: 08 May 2023 at 06:12hrs | 2 | by Staff reporter
Why RBZ introduced the Gold-backed digital currency
With the local currency on a free-fall and Zimbabwe already a digital economy, ninety six percent of our transactions traded on digital platforms. The digital currency was long overdue. Zimbabwe is on...Published: 29 Apr 2023 at 07:07hrs | 2 | by Jacob Kudzayi Mutisi
Zimbabwe gold deliveries to hit 40 tonnes
STATE-owned gold buyer, Fidelity Gold Refinery (FGR) is bullish on hitting a 40-tonne gold delivery target in 2023 buoyed by new gold mining projects coming into production as well as continuous polic...Published: 03 Feb 2023 at 19:11hrs | 1 | by Staff reporter
Gold coins' sales hit ZW$3,7 billion, 90% sales in local currency
THE Reserve Bank of Zimbabwe (RBZ) has reported that gold coins' sales have to date reached ZW$3,7 billion with 90% sales being made in the local currency.Presenting the Mid-Term Monetary Poli...Published: 12 Aug 2022 at 20:30hrs | | by Staff reporter
Zimbabwe gold coins start circulating
THE Reserve Bank of Zimbabwe (RBZ) yesterday released the first batch of 2 000 Mosi-oa-Tunya gold coins into the market to provide a store of value alternative to the US dollar in a development expect...Published: 26 Jul 2022 at 06:36hrs | 1 | by Staff reporter
Zimbabwe gold coins to be held for at least 180 days
Individuals and institutional buyers of Reserve Bank of Zimbabwe (RBZ's) gold coins will be required to hold them for at least 180 days before selling while exporters earning less than a million US do...Published: 20 Jul 2022 at 06:34hrs | 15 | by Staff reporter
Zimbabwe faces huddles before gold league return
ZIMBABWE is still struggling to be readmitted to the London Bullion Market Association (LBMA), more than 13 years since it was booted out of the world's largest gold and silver wholesale market....Published: 14 Mar 2022 at 05:33hrs | 2 | by Staff reporter
Group demands ZSE listings for Fidelity suitors
INVESTORS interested in taking up equity in the central bankrun Fidelity Printers and Refiners (FPR) should agree to list on at least one of the country's stock exchanges in order to enhance transpare...Published: 29 Aug 2021 at 07:15hrs | 1 | by Staff reporter
'Zimbabwe's gold policy fueling criminality'
GOVERNMENT'S policy of buying gold on a no-questions-asked basis is creating chaos and fueling criminality in the mining sector, the Zimbabwe Coalition on Debt and Development (Zimcodd) has said....Published: 21 May 2021 at 06:05hrs | 12 | by Staff reporter
Govt cuts royalties for gold miners
THE government has reduced royalties payable by artisanal and small-scale gold miners from two percentage points to one percentage point for 500 grammes of the precious yellow metal per month....Published: 05 Apr 2021 at 16:58hrs | 2 | by Staff reporter
Gold deliveries slump to lowest since 2014
Gold deliveries slumped to their lowest since 2014 falling 31% in 2020 as the sub sector marked a tumultuous year where the country failed to take advantage of a record rally on the price of the yello...Published: 11 Jan 2021 at 16:07hrs | 1 | by Staff reporter
Mnangagwa's gamble works for the economy
Monetary Policy is defined as an attempt to achieve broad economic goals by the regulation of the supply of money. The 2018 Monetary Policy Statement (MPS) was prepared on the narrative that Zimbabwe ...Published: 23 Feb 2019 at 09:09hrs | 1 | by Dr Masimba Mavaza
Government to sell seized gold worth $300 000
THE Ministry of Mines and Mining Development has given a two-month notice for anyone who claims to be the legal owner of the more than six kilogrammes of processed gold worth over US$300 000 seized fr...Published: 28 Apr 2016 at 07:51hrs | | by Staff Reporter
Zimbabwe on the verge of rejoining bullion market
ZIMBABWE is widely expected to meet prerequisites for re-admission into the London Bullion Market Association (LBMA) by the end of the year, it has been learnt.This will help the country secure a mark...Published: 28 Feb 2016 at 17:28hrs | | by Africa Moyo
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 c...Published: 21 Apr 2015 at 07:55hrs | | by Staff reporter
Zimbabwe misses gold target
Zimbabwe has marginally missed gold output for 2014 after deliveries reached 13,9 tonnes in the year to December against a target of 14,5 tonnes, latest data shows. Statistics from the Fidelit...Published: 16 Jan 2015 at 07:22hrs | | by Staff reporter
Zimbabwe to rejoin UK gold trading centre
Zimbabwe plans to rejoin the London Bullion Marketing Association (LBMA) by the end of next year after complying with the global gold trading centre's requirements.The government is in the...Published: 04 Jul 2014 at 16:30hrs | | by Staff reporter
Zimbabwe to resume gold refining
Zimbabwe is set to resume gold refinery next month in preparation for re-admission to the London Bullion Marketing Association, sources have said.Fidelity Printers and Refinery, a State-o...Published: 28 Oct 2013 at 02:50hrs | | by Business Reporter
Zimbabwe gold output up 13%
ZIMBABWE'S gold output rose 13,4 percent last year to 14 742kg from 12 992kg a year earlier, but fell short of the targeted 15 000kg, latest figures from the Chamber of Mines show. Gold revenues...Published: 24 Jan 2013 at 04:27hrs | 1 | by Business Reporter
Zimbabwe seeks London Bullion Market membership
Plans to rejoin the London Bullion Market Association (LBMA) are at an advanced stage as local gold production emerges from the doldrums.Mines and Mining Development minister Obert Mpofu told ...Published: 15 May 2012 at 09:40hrs | | by Business Reporter
Zimbabwe seeking readmission to the London Bullion Market Association
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...Published: 10 Nov 2011 at 05:17hrs | | by -
Zimbabwe has produced 12 tonnes of Gold since January
Zimbabwe's upward gold production has met requirements for re-admission into the London Bullion Market Association (LBMA) that suspended the country in 2008 following a huge drop in gold output....Published: 15 Sep 2011 at 15:19hrs | | by Staff reporter
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