Zimbabwe is planning to force small-scale gold miners to register their operations in a bid to curtail smuggling, according to media reports citing the central bank governor John Mangudya.
“Government is in the process of putting a statutory instrument for all the gold producers, just like what we do under tobacco where there is a grower’s number,” the governor was quoted as saying by Bloomberg to lawmakers.
“We need to ensure that they do not take the gold out of the country.”
Zimbabwe’s gold deliveries for the five months through May dropped 24% to 7,030 kilograms from the corresponding period last year, according to Fidelity Printers and Refiners, which is owned by the central bank.
Harare attributed the decline to smuggling.
It is believed that more than $1.5-billion of gold is smuggled out of Zimbabwe every year, according to the International Crisis Group.
Zimbabwe projected a gold output of 30 tonnes this year compared to 19.1 tonnes in 2020.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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