adminZMF president Mr Trinos Nkomo told Business Chronicle that plans to set up the processing centres were at an advanced stage. “ZMF has partnered a group of investors from the United Arab Emirates (UAE) to set up gold processing centres in every region of the country with gold deposits. The federation will provide them with logistical support to set up the centres.
“They are coming up with their own engineers and geologists and we hope to start setting up the centres at the beginning of August,” he said.
He said the investors would undertake their own assessment to determine gold production in each of the mining regions.
Zimbabwe has vast gold deposits in almost every province. “After the assessment, the investors are expected to come up with their recommendations and a determination will be made regarding the number of gold processing centres to be commissioned in each region,” said Mr Nkomo.
He would not be drawn into revealing the name of the investors citing professional reasons but hinted out that their partners were an international mining company based in UAE.
He said the investors had also entered into a strategic partnership with in a number of miners in West African countries and South America.
It is hoped that the setting up of gold processing centres would boost the mineral’s output as the miners will have to mill and process the resource at one point.
Mr Nkomo said this would save time and production costs as the miners will no longer be required to travel long distances to milling plants.
Over the past three years, the mining industry has continued to be the mainstay of Zimbabwe’s economic growth and development contributing an estimated 13 percent to the Gross Domestic Product in 2011.
The sector, which is projected to grow by 15,8 percent this year, has seen small-scale miners over the years producing a third of the country’s gold output.
Between January and April this year, small-scale miners produced one third of gold compared to big mines that have a combined output of two tonnes.
Online Reporter