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*Unfriendly Mining Policies Fueling Gold Smuggling - Report* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?oq Mining Zimbabwe has said gold smuggling is mainly due to unfriendly mining policies and the government should address that as a matter of urgency. The Mining magazine cited the 55% forex retention policy introduced in February by the RBZ as the major cause for smuggling: ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- > Since the RBZ decided on 55% forex retention in February this year, various gold miners have smuggled their produce to lucrative markets such as South Africa. The average price of gold is US$41 000 per kg, but with the 55% forex retention threshold, a miner will get around US$22 500 with the 45% being paid in Zimbabwean dollars This is coming a few short hours after Finance Minister said the country lost between 30 and 34 tonnes of gold through smuggling. More: Mining Zimbabwe itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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