Metbank has commenced groundwork for setting up 9 service centres for gold miners throughout the country following a partnership with the Zimbabwe Miners Federation (ZMF).
Bank officials and the ZMF toured Timsite Milling Plant in Bindura to get an appreciation of similar operations which they seek to replicate.
Metbank’s executive director for banking Mr Ephraim Chawoneka said the bank had assessed artisanal and small scale miners’ requirements and will initiate modalities for the milling sites.
“In terms of time frames we want to set up one service by the end of the last quarter of this year and more next year since it’s a learning curve,” he said.
Timsite Enterprises Managing Director Mr Chris Sheng said investing in CIP technology which is the modern trend in gold service centres offers significant returns.
“This plant which uses carbonation can get up to 90 percent recoveries than sedation used in past which has a 60 percent recovery,” he said.
Increased support to the gold mining sector is expected to boost the country’s foreign currency inflows.