Thursday, July 3, 2025
No Result
View All Result
News Report  Zimbabwe
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
No Result
View All Result
News Report  Zimbabwe
No Result
View All Result
Home News

Govt to introduce gold pricing policy

November 21, 2023
0
Govt to introduce gold pricing policy

The Zimbabwean government is facing calls to enforce its gold pricing policy after allegations emerged that private players are purchasing the yellow metal at higher prices than the State-set rate.

The allegations were raised by Shamva South Member of Parliament (MP) Joseph Mapiki, during a Question and Answer session on Wednesday.

Mapiki asked the Minister of Mines and Mining Development to explain why private buyers are willing to pay more for gold than the government.

“The Minister stated clearly that he is issuing licences to private players. I want the Hon. Minister to explain why they buy at a higher price than Fidelity Printers. I want to understand where they sell their gold,” said Mapiki.

The Deputy Minister of Mines and Mining Development, Polite Kambamura, responded by saying that the government sets gold prices based on international market prices daily and that any buyer purchasing at a higher price would be required to explain.

“If there is any buyer purchasing at a higher price, please show us that buyer because as Government, we have set prices depending on the international market prices on a daily basis just like when bread is priced at a dollar.

“If we find you buying bread at $10.00, we would need an explanation as to why you are buying at such a price when Bakers Inn is selling at $1,” said Kambamura.

The allegations of private buyers purchasing gold at higher prices than the government-set rate raise concerns about the transparency and fairness of the country’s gold market.

Mapiki’s allegations came after MPs inquired about government policy in assisting small-scale miners operations in the outskirts of Zimbabwe.

In response, Kambamura said the government was licensing private gold buyers who can go to where the mining is taking place.

The deputy minister said the country’s biggest gold buyer, Fidelity Printers, now has mobile purchasing units.

“Fidelity Printers have come up with mobile gold buying units whereby they will be going to those places that are remote for miners to sell their gold to the legal market.

“Besides that, we are also giving licences to private players who can go to where that mining is taking place and buy that gold. As long as they are licensed, the small-scale miners should feel free to sell their gold to them.

“So, these are some of the measures that the Government is taking. Besides that, we are also setting up gold milling centres throughout the country. We have started this project in Makaha whereby a gold service centre will be a point where the miner can access cash and also some expertise or technical assistance in terms of safer methods of mining,” Kambamura said.

Source NewZimbabwe

Tags: Polite KambamuraShamva South Member of Parliament (MP)

Related Posts

Zimbabwe Government Denies Edgar Lungu Held Diplomatic Passport

Zimbabwe Government Denies Edgar Lungu Held Diplomatic Passport

by Nyathi
July 2, 2025
0

The Zimbabwean government has categorically denied rumors that late former Zambian President Edgar Lungu held a Zimbabwean diplomatic passport. Information...

MOTHER’S PLEA: TWO YEARS WITHOUT BURIAL FOR PRINCESS SHOKO

MOTHER’S PLEA: TWO YEARS WITHOUT BURIAL FOR PRINCESS SHOKO

by Nyathi
July 2, 2025
0

Nomsa Sibanda, the mother of four-year-old Princess Shoko, is still seeking closure two years after her child's alleged murder. Despite...

THANDIWE Nkomo EBRAHIM URGES YOUTHS TO TAKE CHARGE OF THEIR FUTURE

THANDIWE Nkomo EBRAHIM URGES YOUTHS TO TAKE CHARGE OF THEIR FUTURE

by Nyathi
July 2, 2025
0

Thandiwe Nkomo Ebrahim, daughter of the late national hero Dr. Joshua Mqabuko Nkomo, has called on Zimbabwean youths to rise...

DAGGA BUSTS: ZRP ARRESTS SUSPECTS IN MBARE AND BEITBRIDGE

DAGGA BUSTS: ZRP ARRESTS SUSPECTS IN MBARE AND BEITBRIDGE

by Nyathi
July 2, 2025
0

The Zimbabwe Republic Police (ZRP) has made significant strides in its crackdown on illicit substances, arresting suspects in multiple incidents....

POWER PLAY: Temba Mliswa Ousted from CP Chemicals Amidst Governance Turmoil

POWER PLAY: Temba Mliswa Ousted from CP Chemicals Amidst Governance Turmoil

by Nyathi
July 2, 2025
0

In a shocking move, outspoken politician and businessman Temba Mliswa has been unceremoniously dumped as Director and Chairperson of CP...

Harare City Council: A Hot Mess of Inefficiency

Harare City Council: A Hot Mess of Inefficiency

by Nyathi
July 1, 2025
0

The Harare City Council is on the brink of abolishing its human resources department, and honestly, it's about time. Mayor...

Please login to join discussion

Trending News Today

  • Police Crack Down on Illicit Liquor Factory

    Police Crack Down on Illicit Liquor Factory

    60 shares
    Share 24 Tweet 15
  • Roosevelt Girls High School in Hot Water: Parents Raise Concerns Over Fees and Governance

    352 shares
    Share 141 Tweet 88
  • THANDIWE Nkomo EBRAHIM URGES YOUTHS TO TAKE CHARGE OF THEIR FUTURE

    36 shares
    Share 14 Tweet 9
  • DAGGA BUSTS: ZRP ARRESTS SUSPECTS IN MBARE AND BEITBRIDGE

    33 shares
    Share 13 Tweet 8
  • MOTHER’S PLEA: TWO YEARS WITHOUT BURIAL FOR PRINCESS SHOKO

    27 shares
    Share 11 Tweet 7
  • POWER PLAY: Temba Mliswa Ousted from CP Chemicals Amidst Governance Turmoil

    21 shares
    Share 8 Tweet 5
  • Zimbabwe to Crush Illegal Gambling Machines

    21 shares
    Share 8 Tweet 5
  • Two Tragic Incidents Involving Trains in Zimbabwe

    41 shares
    Share 16 Tweet 10
  • Themba Gorimbo: The MMA Fighter Walking a Tightrope Between Sports and Politics

    175 shares
    Share 70 Tweet 44
  • Former President Robert Mugabe’s Son , Chatunga Causes Havoc in Mazowe

    265 shares
    Share 106 Tweet 66

Popular This Week

  • Roosevelt Girls High School in Hot Water: Parents Raise Concerns Over Fees and Governance

    Roosevelt Girls High School in Hot Water: Parents Raise Concerns Over Fees and Governance

    352 shares
    Share 141 Tweet 88
  • Former President Robert Mugabe’s Son , Chatunga Causes Havoc in Mazowe

    265 shares
    Share 106 Tweet 66
  • Themba Gorimbo: The MMA Fighter Walking a Tightrope Between Sports and Politics

    175 shares
    Share 70 Tweet 44
  • The Rangemore Robbers’ Wild Ride Ends in Court

    168 shares
    Share 67 Tweet 42
  • 203 Cases of Serious Crimes Suspect in Custody

    143 shares
    Share 57 Tweet 36
  • AFM Pastor’s US$158K Fiasco: A Holy Heist?

    107 shares
    Share 43 Tweet 27
  • Harare Businesswoman on the Run: Warrant of Arrest Issued Over Alleged Fraud

    97 shares
    Share 39 Tweet 24
  • Albinism Awareness Campaign Rocks Masvingo

    65 shares
    Share 26 Tweet 16
  • Paternity Scandal Rocks Marange Village: “This One Is Not Mine”

    63 shares
    Share 25 Tweet 16
  • South African President Condemns Xenophobic Movement

    62 shares
    Share 25 Tweet 16

Popular This Month

  • Susan Mutami’s Desperate Plea To  Temba  Mliswa

    Susan Mutami’s Desperate Plea To Temba Mliswa

    451 shares
    Share 180 Tweet 113
  • Roosevelt Girls High School in Hot Water: Parents Raise Concerns Over Fees and Governance

    352 shares
    Share 141 Tweet 88
  • Courtroom Exchange: Mai Jeremiah Questioned by Defense Lawyer

    347 shares
    Share 139 Tweet 87
  • Street Preacher’s Double Life Exposed

    298 shares
    Share 119 Tweet 75
  • Widow Caught in Bed With Lover a Week After Burying Husband

    273 shares
    Share 109 Tweet 68
  • 77-Year Marriage Ends Over 60-Year-Old Secret

    266 shares
    Share 106 Tweet 67
  • Former President Robert Mugabe’s Son , Chatunga Causes Havoc in Mazowe

    265 shares
    Share 106 Tweet 66
  • The Whipping Girls of Limpopo

    260 shares
    Share 104 Tweet 65
  • Man Narrowly Escapes Becoming a Lion Snack

    259 shares
    Share 104 Tweet 65
  • The Pilot Who Flew Under the Radar for 20 Years

    241 shares
    Share 96 Tweet 60

Most Read Stories

  • “Zimbabwe Is Discrediting SADC”

    ZANU PF Accused Of Bribing SADC Elders To Retain From Losing Power

    5249 shares
    Share 2100 Tweet 1312
  • Madzibaba gets Toyota Aqua after explaining new currency ZiG to church

    4542 shares
    Share 1817 Tweet 1136
  • Breaking News: Zimbabwe launches New Currency (Zig)

    4282 shares
    Share 1713 Tweet 1071
  • Guide : How to access 2023 Zimsec Ordinary O Level results online

    3977 shares
    Share 1591 Tweet 994
  • Uganda Police Officer Shoots Wife Dead After Mocking Him Over Man-U Loss

    3904 shares
    Share 1562 Tweet 976
  • Floods hit Gweru

    3595 shares
    Share 1438 Tweet 899
  • Mashura pa Gokwe musi wa 12.02.24

    3547 shares
    Share 1419 Tweet 887
  • Secret message for ED after his inauguration

    3486 shares
    Share 1394 Tweet 872
  • Heatwave Warning:Expect Extremely hot temp ranging from 36° to 41° until 12 March

    3395 shares
    Share 1358 Tweet 849
  • Here is the reckless Kombi Driver!!!!!!!!!!! See pics here

    3222 shares
    Share 1289 Tweet 806

  • About Us
  • Contact Us
  • FAQ
  • Privacy Policy
  • Terms of Service
  • Home

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News