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*Unfriendly Mining Policies Fueling Gold Smuggling - Report* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?lw 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: ---------- *Latest itel S24 now available on Pindula* $124 Cash on Delivery in Harare & Bulawayo. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > 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 _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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