Did you know that NFC Africa produces gold? Well, gold production in Zambia has been viewed as a strategic option that if well harnessed, could provide the much needed alternative engine to Copper production and earning of additional exports dollars.
With the indefinite closure of Kasenseli gold mine, all the projections on how the central bank could build a big chest of credible gold reserves to help hold the Kwacha in times of stress are now in looking gloom.
One of Zambia’s large scale copper producer NFC Africa has come under spotlight after it has continued to report low gold production despite some of their employees stating that there is more gold that is being mined and has remained undeclared.
FQM’s Kansanshi Mine on the other hand has been reporting sizable and notable gold production numbers which have even led to the Bank of Zambia – BOZ stockpiling of gold reserves which is known as a more stable store of strategic national reserves. But it’s argued that more gold production and accountability of production would be a game changer for Zambia.
When checked with the Ministry of Mines, to affirm claims by some staff members who asked for anonymity for fear of losing their jobs, Mines Minister Paul Kabuswe confirmed that an Audit was conducted on the gold productions at the NFC Africa Mine.
Speaking in an exclusive interview with Zambian Business Times – ZBT, Kabuswe disclosed that the productions declarations of gold by NFC Africa Mine are true and there is no need for one to think otherwise. NFA Africa gold production reports show a monthly production averaging just below 5kgs
According to the document obtained by ZBT, NFC Africa mine has continued to record and report low numbers for gold productions with the highest being 5.63kg and the lowest 2.16kg for the year 2022. But sources say more gold is being mined but very little is being declared.
Mines Minister Paul Kabuswe re-affirmed that there was no need to dispute the report stating that what they are declaring it is true. “If there is a public report, it means even the Zambia Revenue Authority ZRA has picked it up and normal taxes were paid.” He told ZBT.
The Mines Minister said if there are some allegations to say the mine has not been truthful in declaring the productions, should be treated as unverified reports stating that what NFC Africa Mine is declaring was true, “In Zambia there is a lot of speculations sometimes people just create things”, He said. Efforts to get a comment from NFC Africa were underway at the time of going to press.
