The government of Zimbabwe in an endeavour to enable the growth and development of Artisanal and Small scale miners (ASM) will establish the Mining Industry Loan Fund to support miners through mining established loans and plant and equipment hire loan schemes.
The ASM has continued to show it’s relevance to economic revival with the sector currently contributing over 67 percent of gold delivered to the country’s sole gold buyer and exporter Fidelity Gold Refinery (FGR). According to the Minister of Finance and Economic Development Prof Mthuli Ncube through his 2023 National Budget Statement presented to the Parliament of Zimbabwe yesterday the ASM continue to dominate the mining industry therefore it was of importance for the government to support them for economic revival as well as responsible sourcing.
He said the National Budget will support the establishment of Gold Service Centres as part of a drive to promote formalization of the ASM as well as curbing illicit financial flows.
“The mining sector, especially the gold sector, is dominated by artisanal and small-scale miners operating informally. The sub-sector contributes significantly to gold deliveries to Fidelity Gold Refineries, employs a significant number of workers and is a source of livelihoods for rural communities.
“Therefore, Government will continue to assist the small-scale miners to adopt environmentally friendly, safe and sustainable mining methods.
“The 2023 National Budget will support the establishment of Gold Service Centres as part of the drive to promote the formalisation of activities of the artisanal and small-scale miners, with a target of having five fully established centres by the end of 2023. The centres will be located in areas of high
activity by small scale miners to facilitate ease of processing and marketing of gold.
“Further support will be extended to the Mining Industry Loan Fund to support small-scale miners through mining
establishment loans and plant and equipment hire loan schemes,” Prof Mthuli Ncube said.