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Kamfinsa Member of Parliament (MP) Christopher Kang’ombe has said government should urgently resolve all challenges at the Kasenseli Gold Mine in Mwinilunga.
Kang’ombe said resumption of operations at Kasenseli Gold Mine in Zambia’s Northwestern would ensure that Bank of Zambia ( BOZ ) continues buying all the gold produced.
“The continued silence of the government on both the intended operations of Zambia Gold Mine (ZGC) and the gold Mine in Northwestern Province was of great concern,” he said.
Kang’ombe said on Tuesday that a well organised ZGC, must also be able to buy gold from artisanal and small-scale miners (ASMs) at very attractive prices.
He said according to the Deputy BoZ Governor Francis Chipimo, as at August 2022 , BoZ had bought about US$72 million dollars worth of Gold bullion ( highest standard of Gold ) and US$6 million worth of Dore Gold ( not the highest standard – requires refinement).
“My view is that apart from BoZ buying a targeted amount for gold reserves worthUS$100 million by end of each year, off-take agreements can be made by ZGC on behalf of the ASMs with other buyers for the extra quantity that would be available,” Kang’ombe said.
Also read:https://www.zambiamonitor.com/mine-expert-urges-government-to-offload-51-kasenseli-shares/
In January 2020,ZGC was incorporated with ZCCM-IH owning 51 percent stake and the Ministry of Finance 49 percent stake respectively.
He said the role of ZGC was to ensure that the gold mining sub- sector in Zambia is organised and benefitting all stakeholders through commercial activities.
“ZGC even acquired the mining licence for Kasenseli Gold Mine, though operations are currently suspended by the Ministry of Mines,” Kang’ombe stated.
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