https://www.herald.co.zw/measures-to-improve-operation-of-gold-service-centres-approved/

Feb. 16, 2022

Measures to improve operations of Gold Service Centres Approved. Cabinet resolved on the institution of the following measures to ensure that the Gold Service Centres achieve the intended objectives:

a) that the Mines and Minerals (Amendment) Bill be finalised as a matter of urgency;

b) that the formalisation of all mining operations be expedited to enhance accountability and ease of monitoring by environmental management authorities;

c) that funding be provided including through Special Drawing Rights (SDRs) for the operationalisation of Gold Service Centres as approved by Cabinet, with the participation of the private sector being vigorously pursued;

d) that mobile Gold Buying Centres be established starting with four immediately; and

e) that law enforcement measures be consolidated and that adequate resources are provided to conduct the necessary operations such as Operation Chikorokoza Ngachipere/Isitsheketsa Kasiphele/No to machete-wielding gangs

Fidelity Printers and Refiners (Private) Limited (FPR) is being unbundled into two business entities: Fidelity Gold Refinery (Private) Limited (FGR) and Print and Minting Company of Zimbabwe (PMCZ)

FPR is being unbundled into two business entities that is gold refining under Fidelity Gold refining (Private) Limited (FGR) and printing minting under Printing and Mining company of Zimbabwe (PMCZ). As advised through the press statement of 16Dec 2020, the unbundling of FPR is designed to partially privatise the gold refining business by allowing private players in the gold mining and production sector to acquire a stake therin and in the process secure and endear the gold miners , intrest in the production , market and trading of gold in Zimbabwe.

Establishment of at least twenty Gold Centres by mid-2022

Cabinet approved proposals for the establishment of over twenty Gold Centres by mid-2022. Accordingly, memoranda of understanding will be signed with four investors who have been identified for the purpose of setting up the Gold Centres. The investors will own 100 per cent equity in the Centres, while those who operate joint ventures with the Ministry of Mines and Mining Development will fully fund the operations of the Centres in return for a 90 per cent equity stake. Cabinet therefore approved that the Ministry of Mines and Mining Development signs memoranda of understanding with investors intending to locate, establish, fund and run gold centres already provided for in the Mines and Minerals Act. Some of the Gold Centres are expected to be established in Makaha, Odzi, Mount Darwin, Shamva, Mazowe and Silobela.

Approval of over twenty Gold Centres proposals

Accordingly, memoranda of understanding will be signed with four investors who have been identified for the purpose of setting up the Gold Centres. The investors will own 100 per cent equity in the Centres, while those who operate joint ventures with the Ministry of Mines and Mining Development will fully fund the operations of the Centres in return for a 90 per cent equity stake. Cabinet therefore approved that the Ministry of Mines and Mining Development signs memoranda of understanding with investors intending to locate, establish, fund and run gold centres already provided for in the Mines and Minerals Act. Some of the Gold Centres are expected to be established in Makaha, Odzi, Mount Darwin, Shamva, Mazowe and Silobela.