Source: Is Zimbabwe’s gold sector an economic saviour or sinner? – Mining Review
The Government of Zimbabwe will be investigating what it believes to fraudulent production figures from gold mining companies in the country.
The validity of this is questionable though.
This article was first published in our weekly newsletter on 21 November 2018
There are two conflicting views on the country’s mining industry.
On one hand the Deputy Minister of Mines and Mining Development, Polite Kambamura, believes there are large-scale gold miners who have been under declaring their production, in order to sell it through the small-scale miners.
On the other hand, Reserve Bank of Zimbabwe governor John Mangudya, believes mining in Zimbabwe has overtaken agriculture as the anchor of the country’s economy – thanks to its successful mining sector.
Mangudya’s reasoning lies in the mining sector’s strong performance being underpinned by record gold output as well as impressive figures from Zimplats.
He has stated that the politically battered and economically crippled country has earned $2.2 billion from its mining sector.
Who do you think has a more correct view of the mining sector in Zimbabwe?
Mangudya or Kambamura?
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Until next week!
Richard Jansen van Vuuren
Online editor: Mining Review Africa
COMMENTS
In fact the entire sector (mining) can be the nation’s savior, if transparency is observed and adhered to and really zero tolerance to CORRUPTION is practised and not lip – service as is the norm right now.