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GOLD smugglers have laid siege on the country’s small-scale gold miners, baiting producers with foreign currency as the Zimbabwe-denominated prices offered by Fidelity Printers and Refiners have increasingly become eroded by inflation.
According to information gathered by The Sunday Mail Business, the "yellow metal" is fetching 200 rand or US$20 per gramme compared to an estimated $800 000 per gramme being offered by the Reserve Bank of Zimbabwe arm a fortnight ago.
Cash shortages plaguing the country were also affecting payment and deliveries to and by the miners.
Most of the gold that is being purchased outside the formal system is destined for regional countries such as South Africa, Mozambique and Zambia.
The country is currently bearing the brunt of the illicit activities with recent statistics from the Chamber of Mines indicating that gold deliveries fell 182 percent to 125 kilogrammes in October from the same period a year ago.
Big gold mines are under severe stress from intermittent power supplies, a staggering debt owed by the Reserve Bank of Zimbabwe (RBZ) for gold deliveries and unviable exchange rate.
Small-scale gold miners contend that there is need for the Government to help miners recapitalise and assist in accessing equipment to ramp up production.
According to the second vice-president of the Confederation of Zimbabwe Miners (CZM), Mrs Maureen Marasha, there is a critical need for the Government to include a package that is meant to capitalise the operations of small-miners when the national budgetary process begins.
"There is urgent need for the Government to critically chip in with financial resources in order to enable small-scale miners to both sustain and expand operations as operational costs are constantly rising.
"Almost all of the inputs that we use, especially chemicals, are now being charged in foreign currency, but we get our proceeds in the local currency.
"It has become daunting for some of the miners to compile the Environmental Impact Assessment Reports because most of the consultants are quoting their fees in foreign currency," said Mrs Marasha.
It is understood that consultants, who are key to the compilation of the reports, are charging varying amounts ranging from 500 rand to 2 500 rand, thereby styming the resumption of operations.
Most of small-scale miners who were shut down under the Government’s "Operation Chikorokoza Chapera" at the end of 2004 have been unable to resume operations.
CZM has since engaged the Ministry of Economic Development for assistance in accessing critical equipment such as compressors, shovels, tractors and stamping mills.
However, these effort have not yet materialised.
Small-scale miners forecast that if they are adequately capitalised and resourced, they will be able to increase production by an estimated 200 percent.
According to information gathered by The Sunday Mail Business, the "yellow metal" is fetching 200 rand or US$20 per gramme compared to an estimated $800 000 per gramme being offered by the Reserve Bank of Zimbabwe arm a fortnight ago.
Cash shortages plaguing the country were also affecting payment and deliveries to and by the miners.
Most of the gold that is being purchased outside the formal system is destined for regional countries such as South Africa, Mozambique and Zambia.
The country is currently bearing the brunt of the illicit activities with recent statistics from the Chamber of Mines indicating that gold deliveries fell 182 percent to 125 kilogrammes in October from the same period a year ago.
Big gold mines are under severe stress from intermittent power supplies, a staggering debt owed by the Reserve Bank of Zimbabwe (RBZ) for gold deliveries and unviable exchange rate.
Small-scale gold miners contend that there is need for the Government to help miners recapitalise and assist in accessing equipment to ramp up production.
According to the second vice-president of the Confederation of Zimbabwe Miners (CZM), Mrs Maureen Marasha, there is a critical need for the Government to include a package that is meant to capitalise the operations of small-miners when the national budgetary process begins.
"There is urgent need for the Government to critically chip in with financial resources in order to enable small-scale miners to both sustain and expand operations as operational costs are constantly rising.
"Almost all of the inputs that we use, especially chemicals, are now being charged in foreign currency, but we get our proceeds in the local currency.
"It has become daunting for some of the miners to compile the Environmental Impact Assessment Reports because most of the consultants are quoting their fees in foreign currency," said Mrs Marasha.
It is understood that consultants, who are key to the compilation of the reports, are charging varying amounts ranging from 500 rand to 2 500 rand, thereby styming the resumption of operations.
Most of small-scale miners who were shut down under the Government’s "Operation Chikorokoza Chapera" at the end of 2004 have been unable to resume operations.
CZM has since engaged the Ministry of Economic Development for assistance in accessing critical equipment such as compressors, shovels, tractors and stamping mills.
However, these effort have not yet materialised.
Small-scale miners forecast that if they are adequately capitalised and resourced, they will be able to increase production by an estimated 200 percent.
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