Published: 21 September 2017

Zimbabwe is losing over $500 million worth of gold annually to smuggling due to lack of support to small scale producers, the country's sole gold buyer has said.

Fidelity Printers and Refinery said the country's delay in amending the colonial Gold Trade Act and Mining and Minerals Act was prejudicing Zimbabwe of millions of dollars in potential revenue.

Zimbabwe whose struggling economy is failing to create jobs, with unemployment running above 90 percent, has moved to legalize artisanal mining to help boost the country's gold output and foreign currency earnings. But that declaration is yet to be supported by any legal regulations.
- Fin Gaz

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