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$4 Billion endeavored to be bestow by Small Scale Miners towards the consummation of $12 Billion Economy, divulged Wellington Takavarasha – Zimbabwe Miners Federation Chief Executive Officer
Posted On 15 Sep 2021
By Abdul Rahman Bangura–
Photo Credit: Depositphotos
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Wellington Takavarasha in a consultation told, small-scale and artisanal miners have a crucial position to influence towards the culmination of the $12 billion mining economy.
“Statistics of production indicate that, the $12 billion mining economy is being achieved in various sectors, it’s across all the mining sectors. $4 billion has to come from ASM. Fidelity printers receipts of small-scale miners indicates that the sector is producing 60% of the total gold output. The role of ASM is very important. Currently 70% of the
minerals being mined is gold while 30% constitutes other minerals,” he explained.
He similarly accentuated that, formalization of ASM is long delayed.
“As long as government is benefiting from the artisanal small-scale mining sector operations, there is need to formalize. There have been some engagements at Mines and Finance Ministries and they are going to meet and come up with a Statutory Instrument that legalizes policies that have a framework for the ASM sector. This has been on the cards,” he admitted.
The ZMF CEO let out, the Novel Coronavirus (Covid-19) pandemic has adversely influenced the ASM sector.
“Covid-19 has greatly created on the ASM sector. We have had challenges such as cash shortages. The cash shortages are emanating from the fact that the commercial flights that have been coming into the country and the international flights were being restricted. Therefore, this impacted on Fidelity Printers having cash. There were acute shortages at Fidelity Printers and Refineries because of the pandemic,” he explained.
Accordingly, the circumstance oversaw to a substantial decline in output. “Production during Covid-19 dropped drastically. Statistics indicates that we went from 22 tons to 9.8 tons,” he announced.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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