State will take over gold buying

The Herald, June 28, 1984

THE Government is going to be the sole buyer of gold dust from the communal lands to stop the exploitation of gold panners and the illicit exportation of the precious mineral.

A senior official with the gemstones and gold division of the Minerals Marketing Corporation of Zimbabwe, Cde Abdon Ncube, told gold panners in Mutoko recently that some whites leaving the country were robbing Zimbabwe of valuable foreign currency by using black agents who went around buying gold dust from the communal lands at very low prices, and then export the gold illegally.

“Because of this abhorrent practice the Government was now of the opinion that it should be the sole buyer of this important revenue earner,” Cde Ncube said.

If the gold panners approved, the Government would soon set up gold marketing boards in their areas, he said.

Hundreds of women who are involved in gold panning along the Mazowe River in Uzumba, Maramba, Nyanzou and Pfungwe communal lands who attended the meeting hailed the Government move as having come at the right time,

LESSONS FOR TODAY

Gold is one of Zimbabwe’s largest foreign exchange earners, accounting for a significant portion of its total exports. By buying gold from artisanal miners at fair prices, the Government can support economic growth and development.

The Government should buy gold from artisanal miners to address the challenges in the gold sector, reduce smuggling, improve the national economy, and ensure better working conditions for artisanal miners.

One of the primary reasons for the Government to buy gold from artisanal miners is to address the challenges in the gold sector. Artisanal and small-scale mining (ASM) contributes significantly to Zimbabwe’s gold production.