Govt. works on Gold Export entity formulation

Ministry of Mines and Minerals Development Permanent Secretary, Hapenga Kabeta has revealed that the government is working on an entity which will be responsible for buying gold for export out of the country. Dr Kabeta says the development of the body known as the “Zambia Gold…

Ministry of Mines and Minerals Development Permanent Secretary, Hapenga Kabeta has revealed that the government is working on an entity which will be responsible for buying gold for export out of the country.

Dr Kabeta says the development of the body known as the “Zambia Gold Trade Agency” is currently at draft stage and undergoing legal consideration.

He has noted that the step is one of the measures meant to ensure gold produced in the country is traced and traded through one central point.

The Permanent Secretary said this, in Lusaka, when he met a delegation from the World Gold Council, led by Chief Executive Officer, David Tait.

“This is the only body that will buy the Bank of Zambia, will get its share and the gold that is meant to be exported out of the country will be exported by this body. Anybody who is buying gold in the country cannot buy gold in the country, if it is for the purpose of export”, he stated.

Dr Kabeta also announced that his ministry had made progress in addressing issues surrounding artisanal gold mining in the country.

He explained that as part of the formalisation programme anchored on legality, safety, formal trade and security in mining areas, training of artisanal miners has been rolled- out in Solwezi, Mufumbwe, Mpika and Kabwe.

Dr Kabeta stressed that such training will now be a prerequisite for some members of cooperatives in order for mining licenses to be obtained.

He added that amendments to the Penal Code now classify gold as a restricted commodity, making it unlawful to handle the mineral without proper documentation.

And World Gold Council Chief Executive Officer, David Tait disclosed that his organisation is in Zambia to explore means of supporting the government’s agenda in the achievement of safe, legal, formal and secure mining of gold.

He explained that this includes the introduction of traceability technology, roll-out of processing plants as well as centralised buying of gold for the benefit of the country.

Meanwhile, Managing Director for Minerals, a Zambian gold trade Company, Andrew Mukupakatandula has revealed that his firm is setting up a world class gold processing facility which will be commissioned in a few weeks’ time.

“We are happy that we will have steady feed for the refinery once these buying centers are done “, he explained.