adminAfrican company, which would in turn provide machinery to the miners to ramp up production.
Gold production by small-scale miners surged to 489,5kg in December 2011 compared to 348,5kg the previous month.
ZMF president Mr Trynos Nkomo said selling gold to South Africa meant high returns for the miners.
“It is a win-win situation where we get machinery and capital while the South African firm gets gold. Our members will get good prices and this will go a long way in boosting local production since mining is capital intensive.
“We are just activating a deal that existed before. The initial contract expired three years ago when the country went through a bad patch,” he said.
Mr Nkomo said the South African firm was a reputable gold refiner in that country and in India.
“The firm has also agreed to advance machinery on credit to the federation,” he said.
Mr Nkomo, however, would not be drawn to disclose the name of the South African company and the nitty gritties of the deal. – New Ziana.
Online Reporter
- Herald
- September 24, 2026
- 1 views
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