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 Trade Agency” is currently at draft stage and undergoing […]

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.  

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 from 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.

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. 

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