Gold Mobilization , Key to Curb Illegal Gold Buyers


The government is implementing gold mobilization scheme as a way of mitigating the side marketing of gold, which has hampered the growth of the gold sector. 

The reviving scheme was put in place in January this early as its main endeavour is to mobilize small scale miners to submit gold more ore to Fidelity Gold Refinery (FGR) since there are the one who are mainly affected by the side marketing.

The gold sector have experienced a short fall of gold deliveries due to illegal gold buyers , with the ASM failing to reach the two-tonne mark to FGR, and the government is putting policies in place to lessen the risk, which has reduced the sector's growth.

Zvishavane as a one of the major supplier of gold in the country is moving towards gold mobilization as the government is working hard in hand with the Ministry of Mines , Ministry of Finance and the Zimbabwe National Army to curb smuggling through gold mobilization in a diplomatic manner.

Speaking with Zimbabwe Mines Federation CEO, Wellington Takavarasha said that gold mobilization scheme is meant to improve the gold deliveries to FGR so as the 35 tonnes for this year will be achieved. 

“Gold mobilization scheme is meant to ensure compliance for the gold mining , ensure increment, and reach the annual target of 35 tonnes this year and 60 tonnes by 2023.

"Despite the increase in gold delivery, it is widely believed that deliveries fall short of possible gold produced in Zimbabwe due to rampant illegal marketing , and a number of initiatives are being implemented,” Takavarasha said.

He further stated that the essence of gold mobilization is to educate small scale miners with the vision to formalize the mining sector.

Before 2022 small scale miners were removed by the government on their claims due to lack of legal papers , however gold mobilization aim to ensure that every miner is educated of gold markets and is also entitled to his or her claim as the ministry and stakeholders are working on eradicating illegal marketing .

Government has established Gold Services Centers under the gold mobilization scheme to all provinces in the country as this has seen the increase of gold deliveries to FGR to stand at 25666.48 kg from both primary and small scale miners a remarkable increase from 18972.43 kg of 2021 . 

In Zimbabwe, the ministry of mines is using the gold mobilization blitz as a driving force to increase gold deliveries to FGR the country is losing close to US$100 million worth of gold every month,through smuggling.The illicit has reached climax , however the implementation of gold mobilization is taking shape in curbing illegal gold mining .

Source : Zimbabwe Mines Federation C.E.O Wellington Takavarasha 0772986436

Related Topics