RBZ Probes Small Scale Miners As Gold Deliveries Dwindle

The Reserve Bank of Zimbabwe (RBZ) has launched an investigation into small scale gold miners’ operations following a decrease in deliveries over the past few weeks,

Deliveries to Fidelity Printers and Refiners (FPR) declined from an average of 90 kilogrammes (kg) per day to 20 kg per day shortly after the RBZ presented its monetary policy statement. Businessman Joseph Kanyekanye said miners were not happy with the new policies. Kanyekanye said miners were not happy with the decrease of the foreign currency retention percentage from 70 to 55 percent. The rest of the money will be paid for in local currencies at the prevailing rate at the 2,5 percent new interbank market rate.

More: Financial Gazette


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