Staff Reporter
In a significant move to support Artisanal and Small-scale Miners (ASM) in Zimbabwe, Government is set to introduce a US$10 million funding scheme aimed at boosting production and ensuring responsible mining practices for chrome and gemstone miners.
The Minister of Mines and Mining Development, Winston Chitando, speaking at the Zimbabwe Miners Federation (ZMF) Conference held at Hippodrome in Braeside, Harare, on Friday recently, announced that President Emmerson Mnangagwa, would soon unveil a US$10 million funding facility for the non-gold Artisanal and Small-scale Miners (ASM) sector in September this year.
"Before the end of September, there will be an initial US$10 million facility specifically for equipping non-gold production. This facility is designed for miners, including those in the chrome and gemstone sectors. It will be launched by His Excellency, the President, on the day to be announced. All the mechanisms have been concluded, and we are just finalizing a few details before it is presented to His Excellency," said Minister Chitando.
Minister Chitando emphasized that chrome miners should work with Government to safe guarded themselves from unscrupulous mining practices by the middlemen and fake mining companies.
"In some cases, miners are being undercut or eliminated by unfair practices, which is unacceptable. Therefore, a mechanism will be put in place to ensure that if you are a miner, you can only sell chrome ores with the transaction overseen by the Minerals Marketing Corporation of Zimbabwe (MMCZ)," he explained.
In addition, Minister Chitando highlighted that the new regulations would require that all transactions involving chrome ores be monitored by the MMCZ to ensure fair pricing and prevent fraud.
“The physical ores do not have to go to the MMCZ. We do not want to create any protests. If the ore is at your mine and you normally sell it to a buyer, your paperwork must go to the MMCZ before the buyer can move it. The MMCZ will confirm that you are being paid fairly. Once confirmed, you can proceed with the transaction.
“This mechanism aims to safeguard chrome miners against predatory buyers who have been purchasing ores with over 40 percent chrome content at unfairly low prices, often leaving miners in poverty. By enforcing this regulation, Government hopes to create a more equitable and transparent market for chrome and gemstone miners,” said the Minister.
The introduction of the US$10 million funding facility represents a significant step towards promoting sustainable mining practices in Zimbabwe.
By providing financial support and implementing fair trade regulations, Government seeks to empower ASM miners, enhance production, and contribute to the overall growth of the mining sector.
