The Mines and Mining Development Ministry says it will soon unveil the Gold Development Policy which will set the framework to effectively develop the sector in terms of production.
Once the policy is unveiled, illegal mining activities in the small scale and artisanal sector will become a thing of the past.
The policy measure comes against a background of a vacuum in specific regulations that govern the operations of the small scale and artisanal miners that expose this industry to rampant issues of illegal activities involving both operations and trading of the yellow metal.
Estimates state the country is losing around $5 million every month to illicit activities that prejudice government of the much needed revenue.
Zimbabwe Miners Federation Chief Executive Officer Mr Wellington Takavarasha said the Gold Development Policy will thus be critical to plug these loopholes by bringing every player into the mainstream production.
“The policy will be critical as it will ensure that all the gold is accounted for and the country dos not lose the much needed revenue for the growth and development of the country,” he said.
The policy document finalised by the Chamber of Mines last year is widely viewed as the vital cog in shaping production for the industry.
However, industry expert Mr Thomas Gono advised that implementation should be gradual to allow for the players to appreciate the benefits of this policy.
“The implementation of this policy should not be rushed so that all stakeholders have a clear understanding of what will be going on,” he said
Small scale and artisanal miners have become a key pillar in the overall yield of gold in the country after contributing 65 percent or 22 tonnes of the yellow metal last year.
This positive traction is expected to be sustained as government has outlined a target of 40 tonnes this year.