The Ministry of Mines and Mining Development is intensifying efforts to formalize gold production across the country, with the aim of ensuring that all mined gold is accounted for through official channels, Permanent Secretary Pfungwa Kunaka has said.
Speaking at a recent engagement, Kunaka stressed the importance of channeling all gold produced, whether from formal or informal miners, through Fidelity Printers and Refiners, the country’s official buyer and processor of gold.
“It is our responsibility as a team to ensure that all operators in the sector declare the gold they are producing,” he said.
Zimbabwe’s gold mining sector comprises various players, including small-scale and artisanal miners, some of whom operate informally. Kunaka noted that formalizing their operations is critical to bringing all gold into the official system, enhancing transparency, and curbing illegal trade.
“This exercise has one primary objective—to ensure that all gold being produced in the country is brought into the formal system through Fidelity,” Kunaka added.
With gold being one of Zimbabwe’s top foreign currency earners, the government’s move to formalize production is seen as key to boosting revenue while also tackling smuggling and other illicit activities that have long plagued the sector.
