With the objective of developing and formalizing the Gold sub sector in the country, the Zambia Gold Company has disclosed that it intends to open many gold mines in the country.
Speaking in an exclusive interview with the Zambian Business Times-ZBT, ZGC Public Relations Manager Mathews Liyani disclosed that the company is currently doing explorations in Rufunsa District and will soon be doing explorations in Mumbwa District of Central Province.
Liyani explained that the company wants to open more gold mines as a way of increasing gold productions in the country.
He said the company is so far working with 11 Cooperatives in Eastern Province that are involved in gold mining and has helped them with equipment such gold detectors and shaking cables, a situation he said is one way to help them increase production.
Liyani said helping artisanal mining operations and transforming them into commercially viable activities would ensure that the production of gold increases and more people would be empowered economically.
The Zambian government has since the year 2020 tasked ZGCL with the mandate to develop tenements into fully operational gold and other precious mineral mines.
Shareholders of the ZGC are ZCCM-IH with 51% and the Zambian government through the Ministry of Finance has 49%, ZGCL has the mandate to acquire exploration licenses and carry out exploration with a focus on Gold either directly or in partnership with other entities.
ZGCL-the company in charge of Kasenseli gold mine sells all the gold produced at Kasenseli Gold Mine to the Bank of Zambia. Further, the company buys gold from artisanal and small-scale miners (ASMs) as a way of supporting and encouraging them to formalise their operations. The gold purchased from ASMs is sold through off-take agreements with buyers or processed into jewellery.
