ZCCM

MLZAM - ZM0000000037 SRD PEA PEA-PME
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SMALL-SCALE GOLD MINERS EXCITED BY ZCCM MOVE

19/03/2020 par Titicopper 2
SMALL-SCALE GOLD MINERS EXCITED BY ZCCM MOVE
By Web Admin - March 18, 202027 0

SILUMESI MALUMO writes
THE recent announcement by the Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) to begin buying gold from local small scale miners is exciting because it will empower them and help to grow, says Small-Scale Miners Association of Zambia president Kunda Chani.
He said it was gratifying that concerns around informal trade in gold had been addressed as many small scale miners would benefit.
“As an association we are excited about the move which has been made by ZCCM-IH. We want to applaud Government over the fulfilment of this political will, it is no longer rhetoric because Government has set the base.
“What ZCCM-IH has done, to extend an arm of invitation for small scale miners to directly sell gold to them so that this gold can be processed and value added, is a step in the right direction,” Mr Chani said in an interview.
He said because of the volatility on the market, countries in the world preferred stocking gold and this could contribute to Zambia’s financial stability and boost the value of the local currency.
Early this year, Minister of Mines and Mineral Development Richard Musukwa announced that Government through ZCCM-IH is targeting to buy about 40,000 tonnes of gold from small scale miners across the country.
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