Mark your dates for 4th Asia Pacific Precious Metals Conference on 07-09 June 2020 at Mandarin Orchard, Singapore..., Mark your dates for 17th India International Gold Convention on 03-05 Sept 2020 at Radisson Blu Resort & Spa, Udaipur...
 You are here : Home > Mining & Refining
 
 

Zambia to Amend Mining Rules to Treat Gold as Strategic Asset

24 May 2020

 

Zambia to Amend Mining Rules to Treat Gold as Strategic Asset Taonga Clifford Mitimingi Bookmark May 24 2020, 5:26 PM May 25 2020, 9:13 AM (Bloomberg) -- Zambia is moving to amend gold-mining rules so that they treat the metal as strategic. The cabinet agreed to amend the Mines Act to align it with a policy set last October to recognize gold as a strategic mineral.

 

The cabinet’s May 20 approval to modify laws and regulations stemmed from a proposal from the mines minister, according to the ministry’s permanent secretary, Barnaby Mulenga.Zambia wants its national gold production to help the central bank build up the nation’s strategic reserves. ZCCM-IH has been mandated to coordinate the purchasing and trading business in Zambia. The country mined about 4,000 kilograms of gold in 2018 and is Africa’s second-largest copper producer.

 

Source: https://www.bloombergquint.com/