December 15, 2017

Two gold refineries to be set up in Zambia next year

Two gold refineries will be constructed in Zambia next year and this will enable the country to export processed gold, Minister of Mines Energy and Water Development Christopher Yaluma has said.

The Minister has added that the government was in advanced stage of talks with investors interested in the gold refineries projects. This new move will help in value-addition to gold export products according to the Minister, who said that the government was in the process of ensuring value addition to all export products.

The government hopes to have one of the refineries set up in Lusaka, while the second one in the Eastern Province of Zambia.

Mr. Yaluma has warned those involved in illegal gold mining in the region that they should halt their operations as they are risking their lives by indulging in those activities, otherwise, they should do so at their own risks.

“Through illegal mining, the Government is losing out on revenue because those involved smuggle the gold out of the country and do not pay tax,” he said.

Zambia has been mining gold on a relatively small scale. Since the start of modern mining in 1902, the twenty larger deposits have produced slightly more than 2t of gold. Dunrobin (990kg gold), Sasare (390kg), and Matala (225kg) are the recorded largest producers;

Dunrobin, which was recently re-opened by Reunion Mining is expected to produce 500-600kg gold per annum. The country has registered over 300 gold occurrences of gold deposits throughout the country, and some deposits are currently being-re-evaluated.

Earlier in October this year, Konkola Copper Mines (KCM) underwent a US$ 3.3m loss due to power issues as reported.

Related posts