Business

Gold mining game-changer

KASENSELI Gold Project senior geologist Kapalakasha Mulenga (right) showing Minister of Mines and Mineral Development Richard Musukwa (left) core samples collected during diamond drilling exploration works to help determine and estimate gold mineralisation. Looking on is project manager Charles Mjumphi. PICTURE: KALONDE NYATI

NANCY MWAPE, Lusaka
IN TODAY’s contemporary world, gold does not just imply affluence, material wealth and extravagance but it also gives an expression of style and elegance.
The price of the precious metal on the international market has since reached dizzying heights.
On the London Metal Exchange, gold is fetching around US$1,900 per ounce.
Realising that gold mining and export could play significant role in diversifying Zambia’s economy, job creation and economic development, Government has declared gold as a strategic mineral.
However, despite Zambia reporting an increase in gold occurrences, the sector is mainly dominated by artisanal and small-scale miners who in most instances, operate illegally.
The precious metal is smuggled out of the country mostly by foreigners.
To strategise on a comprehensive mechanism to formalise gold mining and trading in Zambia, Rufunsa district has become a serene ambiance for most of Government’s initiatives aimed at formalising the sector.
Rufunsa’s Chintimbwi area councillor Josias Malunga is confident that with Government formalising gold trading in Zambia, the sector will create jobs for the unemployed youths.
“Gold mining is a game- changer. If well managed, it would translate into improved living standards among our people, job creation and families graduating from thatched homes to bricked houses,” Mr Malunga said.
ZCCM-Investments Holdings (IH) chief executive officer Mabvuto Chipata said the formalisation of the sector will ensure activities are undertaken in a sustainable manner that complies with various international standards and CLICK TO READ MORE



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