The Edgar Lungu led PF Government is moving to amend gold-mining rules so that the country can treat the metal as strategic. The cabinet agreed to amend the Mines Act to align it with a policy set last October to recognize gold as a strategic mineral.
That requires production by artisanal miners to be bought through the state-owned mining investment company ZCCM-IH Plc. The cabinet’s approval, on May 20, to modify laws and regulations stemmed from a proposal from the Mines Minister, according to the Press Release issued by the Ministry’s Permanent Secretary, Barnaby Mulenga.
Zambia wants its national gold production to help the central bank build up the nation’s strategic reserves. ZCCM-IH has been mandated to coordinate the purchasing and trading business in Zambia. It has since created a company, ZCCM Gold Company, that will oversee the mining, processing, refining and marketing of gold in Zambia.
The latest records obtained by Zambia Reports indicate that the country mined about 4,000 kilograms of gold in 2018 besides being Africa’s second-largest copper producer.
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