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(TALKZIMBABWE) Govt losing millions to gold smuggling: Mujuru

Govt losing millions to gold smuggling: Mujuru
Posted by By Our reporter at 4 December, at 00 : 57 AM

THE Zimbabwean government is losing millions of dollars to well-oiled gold smuggling syndicates that continue to pose a serious threat to revenue generation, making development of basic infrastructure unattainable, Vice-President Joice Mujuru (pictured) has said.

Speaking at the launch of the Mining Mechanisation Programme at Bunny Luck Mine in West Nicholson yesterday, she said it was time Zimbabweans desisted from smuggling gold out of the country.

“We are faced with a big and painful problem of smuggling where people are hiding gold in bras and socks and smuggle it into South Africa,” she said.

“It is high time our people learned to do business without fearing police officers.

“It is embarrassing that much of the gold from small-scale miners is not traded through normal channels that promote the development of basic infrastructure.

“As long as there are some among us who still feel the urge to evade the legal courses of trade, we will not be able to develop our communities.

“The Government is saying, ‘Bulawayo should be revived’, but it cannot be revived if there is massive smuggling of our precious minerals.”

Mujuru said miners should approach Government if they were unhappy with prevailing mineral prices.

She indicated the need for the country to fully recognise small-scale miners who are contributing 50 to 60 percent of gold proceeds.

She also appealed to financial institutions to support the sector.

“We fought for the land and for the peace that we are now enjoying.

“Banks such as Stanbic, Standard Chartered and Barclays should reciprocate the conducive economic environment they are operating in by offering loans to our indigenous businesspeople”.

She said the Mining Mechanisation Programme seeks to capacitate miners through the provision of machinery. The programme is being supported financially by BancABC.

Labels: GOLD, JOICE MUJURU, MECHANISATION

posted by MrK @ 2:19 AM