- Published on 04 September 2017
Government has completed investigations into gold mining which were triggered mainly by rampant cases of smuggling and suspected abuse of scarce foreign currency by big mining firms.
Deputy Mines and Mining Development Minister Fred Moyo said the Government recently set up a probe team to investigate massive gold leakages prejudicing the country of millions of dollars in potential revenue. The probe team, led by a director in the Ministry of Mines was tasked to mainly look into production and trading circles of the commodity and investigate how Zimbabwe Revenue Authority’s intention to tax artisanal gold miners has contributed to an upsurge in illegal gold trading. It was also mandated to look into whether part of the foreign currency allocated to medium and large gold miners for their operations was not finding its way on the illicit market. Gold deliveries to Fidelity Printers and Refineries reached 10 tonnes during the first half of 2017, an increase of 3,9 percent from the previous comparable period. (Herald)