Artisanal and small-scale gold miners have been urged to get geological reports in order to access gold development initiative fund availed by the Reserve Bank of Zimbabwe following sentiments that they were receiving a raw deal from the fund administrators, Fidelity Printers and Refineries.
Artisanal and small-scale miners from southern parts of the country have in the past raised concern that they were failing to access the US$150 million loan facility released by the RBZ through the gold development initiative fund.
Speaking to ZBC News Head of Gold Development Initiative Fund Mr Matthew Chidavaenzi said in order for miners to better their chances of receiving the loan meant for mining equipment, they are supposed to start working on geological reports which will provide a clear analysis of minerals in their claims.
“What we have done is that last year we had one representative in Matabeleland North and South. I am happy to say that now we have added another resource personnel who will assist miners in unlocking the gold development initiative fund.
“These resource personnel will be geologists, engineers and metallurgists. The small-scale miners must be able to get valuable information from these technicians. Mining is a capital-intensive venture. The most important thing is the geological report that has been quantified,” said Mr Chidavaenzi.
Small scale gold mining which had proved to be the cash cow for the country has been affected by sanctions imposed by the west with the country’s agent for marketing and selling of minerals, General Manager of Minerals Marketing Corporation of Zimbabwe, Mr Tongai Matthew Muzenda revealing that sanctions were making it hard for the country to fully exploit its resources.
“We urge you to join the country in calling for the removal of sanctions as this affects even our business transactions. At the moment if you deposit your money into our account when you are outside the country it is quickly forfeited and frozen. This is affecting us not to fully exploit our minerals,” said Mr Muzenda.
Despite artisanal and small-scale miners contributing over 50 percent of the foreign currency earnings in the past two years, the country is experiencing rampant mining ownership wrangles which are fueled by lack of survey information within the mining industry.