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A resident of Chinhoyi was robbed of 33 grammes of gold, US$200 in cash, two cellphones, and a vehicle by six armed assailants on Thursday morning.
The robbers were reportedly armed with a pistol, machetes, and batons.
Police have confirmed the incident, saying the suspects drove the stolen vehicle, a white Isuzu KB250 with the registration number AEG 8270, to the residence of a second victim, where they also stole various groceries and another cellphone. Said the ZRP:
<blockquote>
Police in Chinhoyi are investigating a case of robbery which occurred at two homesteads in Bvudzijena Village, Chinhoyi on 31/10/24 at around 0200 hours.
Six unidentified male suspects who were armed with a pistol, machetes and button sticks, broke into a house and attacked the occupant before stealing 33 grams of gold, US$200.00 cash and two cell phones.
The suspect drove off in the first victim’s White Isuzu KB250 vehicle registration number AEG 8270 to the second victim’s place of residence where they stole various groceries and a cellphone.
</blockquote>
Police have appealed for anyone with information that may assist in identifying the suspects to report at any nearest Police Station.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Pindula News

Someone in Chinhoyi was robbed by six armed people. They took 33 grams of gold, $200, two phones, and a car. The robbers had guns, machetes, and sticks. They also stole from another house. The police are investigating. They want anyone with information to help them find the robbers. It happened on Thursday morning. The police are looking for a white Isuzu KB250 with license plate number AEG 8270. Call the police if you know anything.

33 Grammes Of Gold Stolen In Chinhoyi Home Robbery

Three people were robbed of US$15 000 cash, 20 grammes of gold and various clothes by five unknown suspects in Mberi Village, Mutasa, on 08 July 2024.
According to the Zimbabwe Republic Police (ZRP), the assailants attacked the victims with machetes before robbing them of cash, gold and various items of clothing.
After the attack, the suspects quickly fled the scene using one of the complainants’ vehicles – a white Nissan Serena with registration number AFY 4673 which was loaded with 10 x 50 kilogramme bags of maize.
The three victims sustained varying degrees of injury during the assault and were subsequently transported to a hospital in Mutare for medical treatment.
Police in Penhalonga are now appealing to the public for any information that could assist their ongoing investigation.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

In Mutasa Village, three people were robbed of money, gold, and clothes by five suspects with machetes on July 8, 2024. The suspects ran away in a white Nissan Serena filled with maize bags. The victims got hurt and were taken to a hospital in Mutare. Police in Penhalonga are asking for help in finding the suspects. If you have any information, please contact the police.

US$15 000, 20 Grammes Gold Stolen In Mutasa Village Robbery

The Government, through the Ministry of Finance, Economic Development and Investment Promotion, has scrapped the requirement for gold miners to pay a 15 per cent Value Added Tax (VAT) on the value of deliveries to Fidelity Gold Refiners.
Statutory Instrument 105 of 2024, gazetted on Wednesday effectively zero-rates gold deliveries to Fidelity. It reads in part:
<blockquote>
The principal regulations are amended by the insertion of a new schedule after the First Schedule as follows; Second Schedule (Section 13) Zero Rate: Supply of Gold to Fidelity Gold Refinery (Private) Limited.
</blockquote>
Earlier this year, the Treasury implemented a 15 per cent value-added tax (VAT) on gold deliveries by miners. Consequently, gold deliveries declined due to the tax, which posed significant cash flow challenges for small-scale miners.
Gold producers say the Zimbabwe Revenue Authority (ZIMRA) had started charging a 15% VAT backdated to 01 January 2024.
By zero-rating gold deliveries to Fidelity Gold Refineries, authorities hope to encourage more sales to the refinery.
Chamber of Mines of Zimbabwe chief executive officer, Isaac Kwesu, welcomed the change. He told <a href="https://www.herald.co.zw/govt-scraps-vat-on-gold-deliveries/">The Herald</a>:
<blockquote>
With miners required to pay VAT of 15 per cent to Zimra from money paid to them by Fidelity and to be refunded when the gold buyer remitted the payments, most small miners were left with no cashflows to fund operations.
This later saw the small miners being charged 16 percent overall as they also pay a 1 percent royalty. To stay with cashflows, some had resorted to side marketing of gold.
</blockquote>
Official figures show deliveries to the refinery decreased by 2,4 per cent from 11,45 tonnes in the first five months of 2023 to 11,2 tonnes in the same period in 2024.
Also speaking to The Herald, Prosper Chitambara, senior economist at the Labour and Economic Development Research Institute of Zimbabwe, said:
<blockquote>
The reversion to zero-rated VAT for gold deliveries is a strategic move by the government. This policy shift is not just about easing the operational burdens on miners but also aligns with broader economic goals, particularly the need to build up foreign reserves.
Gold remains one of Zimbabwe’s key export commodities, and by encouraging increased deliveries to Fidelity, the government is ensuring that more gold enters formal channels. This not only improves our reserve levels but also strengthens our balance of payments position.
Additionally, with the introduction of the new Zimbabwe Gold (ZiG) currency, it is imperative to have substantial gold reserves backing this currency.
The credibility of ZiG as a stable medium of exchange and store of value is heavily reliant on the robustness of our gold reserves.
Therefore, facilitating smoother operations for miners through this VAT reversal indirectly supports the stability and acceptance of ZiG in the market.
</blockquote>
 The government aims to achieve a target of 40 tonnes of gold deliveries to Fidelity Gold Refinery in 2024.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Government Scraps VAT On Gold Deliveries To Fidelity Gold Refiners

Self-exiled former Foreign Affairs Minister Walter Mzembi has challenged ZANU PF spokesperson Chris Mutsvangwa to name the Reserve Bank of Zimbabwe (RBZ) Governor who facilitated the illicit removal of the country’s gold reserves during the tenure of the late President Robert Mugabe.
Mutsvangwa on Monday alleged that following the imposition of sanctions on the country by Western powers, the RBZ governor, whom he did not name, sought assistance from contacts in the Arab world, who said they could provide US dollars. Said Mutsvangwa:
<blockquote>
We had our gold reserves, then the Americans imposed sanctions, and then we were short of US dollars.
As we were short of US dollars, our Reserve Bank governor then, I won’t mention names, these days I am not mentioning names.
Our Reserve Bank governor engaged outsiders in the Arab world… they said we can give you US dollars but on condition that you support it with your gold.
</blockquote>
Mutsvangwa added that while the gold was transferred as per the agreement, the country never received the promised US dollars.
In response, Mzembi challenged Mutsvangwa to specify the RBZ Governor he was alluding to, considering that five individuals have held the position since the imposition of sanctions in 2001. Mzembi posted on X:
<blockquote>
Yesterday’s aspersions, innuendo and allegations against an unnamed former Public Servant /Governor of the RBZ ref the disappearance of Gold, a public asset, cannot go unchallenged. Cde Chris Mutsvangwa should name the Governor and beneficiary country or countries he is referring to. Sanctions on Zim were imposed in 2001 under:
1. Governor Tsumba who served to 2003. 
2.A/ Governor Chikaura, May 2003- Nov 2003 
3. Governor Gono, Dec 2003 to Nov 2013 
4. A/ Governor Charity Dhliwayo, Dec 2013 to April 2014. 
5. Governor John Mangudya, May 2014- to March 2024.
</blockquote>
Mzembi also listed the names of Finance Ministers who served during the period: Simba Makoni, Chris Kuruneri, Herbert Murerwa, Samuel Mumbengegwi, Tendai Biti, Patrick Chinamasa and Ignatius Chombo.
He also identified external auditors who were engaged since the country came under sanctions, namely: Deloitte &amp; Touché, Ernest &amp; Young, KPMG and Kudenga BDO. Added Mzembi:
<blockquote>
What do these reputable external auditors who covered the period say? What does the IMF say? Then the genius no-nonsense Biti &amp; Inclusive Government and its intrusive modus also failed to pick this?
At this stage, I would be more interested too in the one lot the President himself says is being kept by his friends at a location only known to him and the officers who took it there .. the Big Q is HOW did they do it?
Does it reflect on RBZ financial transactions and auditors’ books? What is the risk associated with this in the event of loss of office, incapacitation or death in office? #whereisourGold?
</blockquote>
Speaking after inspecting the Reserve Bank of Zimbabwe gold reserves earlier this month, President Emmerson Mnangagwa said that a few months ago he had travelled outside Zimbabwe to inspect the country’s gold reserves held offshore. He said:
<blockquote>
Zimbabwe has solid gold in the vaults. In the past, we sold all our gold, and we couldn’t keep money, but now we have solid gold in the vaults.
So, year by year we should have about 1.2 tons of gold in our vaults as well as outside.
A few months ago I went outside, I will not say where, but I went outside where I inspected the gold there and I am satisfied that my officer carried out my instructions correctly.
</blockquote>
Mzembi also raised an important question — how a nation well-known for its robust security infrastructure—could find itself unable to safeguard its precious gold reserves He wrote on X:
<blockquote>
So a country that prosecuted 16 years of revolutionary armed struggle and has a @UN Safekeeping Mission accredited @PoliceZimbabwe, a network of Private Security Organisations can’t entrust itself with the safekeeping and custody of its own gold?
Secondly, if it happened under the First Administration both the Finance Ministers and Governors under that era of pilferage are alive and they include Chinamasa and the current President himself. They should shed more light.
</blockquote>
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Mzembi Challenges Mutsvangwa To Name RBZ Governor Who Facilitated "Theft" Of Zimbabwe Gold Reserves

Zimbabwe is taking steps to stabilise its local currency as it faces economic challenges. Finance Minister Mthuli Ncube recently announced plans to link the exchange rate of the Zimbabwean dollar to hard assets like gold and establish a currency board, <a href="https://www.reuters.com/world/africa/zimbabwe-announce-new-money-supply-growth-mechanisms-create-currency-board-2024-02-12/">Reuters</a> reported. The Zimbabwean dollar has experienced a significant decline of around 40% since the beginning of the year due to factors such as increased foreign currency demand from civil servants receiving December bonuses and lower commodity prices affecting inflows.
President Emmerson Mnangagwa also stated recently, the government’s intention to introduce a “structured currency” without providing details, and the central bank governor confirmed that work is in progress. Minister Ncube explained that the aim is to manage liquidity growth, which is closely tied to money supply growth and inflation. By linking the exchange rate to a hard asset like gold, a currency board system would be implemented to limit the growth of domestic liquidity based on the value of the asset backing the currency.

<ul>
<li><a href="https://www.pindula.co.zw/2024/02/06/president-mnangagwa-says-currency-reforms-coming-to-restore-economic-stability/">President Mnangagwa Says Currency Reforms Coming To Restore Economic Stability</a></li>
<li><a href="https://www.pindula.co.zw/2024/02/11/zimbabwe-treasury-pursues-permanent-solution-to-address-currency-and-price-distortions-mnangagwa/">Zimbabwe Treasury Pursues “Permanent Solution” To Address Currency And Price Distortions – Mnangagwa</a></li>
</ul>
Minister Ncube stated that further announcements regarding these measures will be made in the future, expressing confidence that they will provide a long-term solution to currency volatility. He said in a press briefing:
<blockquote>
The idea going forward is to make sure that we manage the growth of liquidity which has a high correlation to money supply growth and inflation. The way to do that is to link the exchange rate to some hard asset such as gold.
To do that you have to have some sort of currency board type system in place where the growth of the domestic liquidity is constrained by the value of the asset that is backing the currency.
</blockquote>
Zimbabwe, still haunted by memories of hyperinflation during Robert Mugabe’s regime, relaunched its local currency in 2019 after a period of dollarisation. However, the currency rapidly lost value, leading authorities to reintroduce the use of foreign currencies in domestic transactions.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Zimbabwe Intends To Link The Exchange Rate To Hard Assets Including Gold

The Reserve Bank of Zimbabwe (RBZ), has reportedly restored the 100% foreign currency payments to small-scale gold miners, who produce 62% of the country’s gold.
This comes after the RBZ announced late last year that all economic sectors were subject to a 75% uniform forex retention. The central bank said at the time:
<blockquote>
With effect from 1 November 2023, foreign currency retentions on exports shall be standardised at the level of 75% across all sectors of the economy and all special dispensations granted to some sectors of the economy shall be removed.
</blockquote>
Small-scale miners then pressured the RBZ to rescind the policy and resume paying 100% in foreign exchange.
Zimbabwe Miners Federation (ZMF) president Henrietta Rushwaya confirmed the latest development to <a href="https://businesstimes.co.zw/rbz-in-forex-retention-u-turn/">Business Times</a>. She said:
<blockquote>
Small-scale miners have been getting a 100% forex retention threshold all year round in 2023 and we didn’t suffer retention challenges.
There was an impasse for a week but the authorities were quick to resolve it.
</blockquote>
The Gold Miners Association of Zimbabwe CEO, Irvine Chinyenze said the 75% forex retention was going to promote the illicit flow of gold out of the country. He told Business Times:
<blockquote>
There was a danger that smuggling was going to be rampant as miners were going to look for more lucrative markets where they get value for money rather than lose value in the process.
This was going to reduce production at an alarming rate as miners were going to diversify to other sectors that wholly give earnings in US$.
Though we can’t quantify criminality, the country was going to lose over US$2bn in revenues if the current policy direction was not going to be reversed.
This was going to see a great deal of forex being externalised beyond the country’s borders thereby losing massive revenues along the way.
This was going to create an influx of gold mafia gangs as the authorities created a thriving environment for them to smuggle and externalise United States dollars through illicit deals.
</blockquote>
In 2020, Home Affairs and Cultural Heritage Minister Kazembe Kazembe said that Zimbabwe was losing US$100 million worth of gold every month through international smuggling rings.
In 2023, Al Jazeera’s Investigative Unit (I-Unit) claimed that Zimbabwe’s government was using smuggling cartels to sell gold worth hundreds of millions of dollars.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

RBZ Yields To Small-scale Gold Miners' Demand

A gardener from Bulawayo has been arrested for stealing cash and 57 kg of gold from his former employer’s house in Killarney Suburb.
It is alleged that Andrew Chirasha (28), conspired with a friend, Ngonidzashe Kunguya (28), to steal cash and gold between August and December 2022. Chirasha had previously worked as a gardener for the 35-year-old complainant.
<h3>What Transpired?</h3>
Bulawayo Police spokesperson Inspector Abednico Ncube said the two suspects allegedly monitored the complainant’s movements and broke into the house using a screwdriver whenever he left the house unattended. They stole cash and gold from the bedroom undetected. Initially, the complainant suspected his wife of stealing the cash, but it was later discovered that the two suspects were responsible for the thefts. Ncube told the <a href="https://www.chronicle.co.zw/gardener-steals-57-kg-gold-and-forex-from-ex-employer/">Chronicle</a>:
<blockquote>
At first, they took cash amounting to US$900 and no report was made as the complainant thought that his wife was the one behind the missing cash. They went on to take US$400, US$6 000, 12 kg of Gold, and 45 kg of Gold on different occasions and no report was made since there was no sign of a break-in into the house.
</blockquote>
He said the suspects were arrested on July 28, 2023, after the complainant received a tip-off that Chirasha was at Mahatshula Shops. Upon interrogation, Chirasha admitted to committing the thefts and implicated Kunguya. Ncube stated that the estimated value of the stolen items amounted to US$18,000. However, based on the current price of gold on global markets, the 57 kilograms of gold that were stolen would be worth US$3,611,472, or €3,277,500, or £2,808,925 as of August 1, 2023. 
Ncube cautioned the public against keeping large sums of money and valuables like gold in their homes. He also urged homeowners to use target hardening techniques such as increasing doors and windows’ burglar bars’ security to deter burglars. The suspects are facing charges of unlawful entry and theft.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Gardener Steals 57Kg Of Gold From Former Employer

Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya has sought to clarify the issue of Gold Dealing Licence fees following the publication of Statutory Instrument 32 of 2023 on Monday, 20 March 2023.
The Statutory Instrument set the fee for a Gold Dealing Licence at US$200 000 per annum.
In a statement issued this Tuesday, 21 March, Mangudya said that only gold refiners will pay US$200 000, while permits for gold-buying agents cost US$2 500 per annum. Reads the statement:
<blockquote>
<h2>GOLD DEALING LICENCE FEES AND GOLD BUYING AGENCY FEES</h2>
It has come to the attention of the Reserve Bank of Zimbabwe (the Bank) that there has been some misunderstanding pertaining to payment of gold dealing licence fees and gold buying agency fees following the publication of Statutory Instrument 32 of 2023, (Gold Trade (Licence Fees) Amendment Notice, 2023 (No.1)), on 20 March 2023.
In line with its mandate to promote the development of gold mining and production in Zimbabwe, the Bank wishes to provide clarity as follows:
(a) Statutory Instrument 32 of 2023 provides for annual licence fees payable by gold dealers – that is, persons licensed to buy, refine and export gold. Thus only gold refiners shall be liable to pay the US$200 000 licence fees.
(b) Gold buying agents are issued with permits by holders of a gold dealing licence and in the case of Fidelity Gold Refinery (Private) Limited, the agents are appointed to buy gold on its behalf in areas where it does not have gold buying centres and the permit costs US$2 500 per annum.
In that regard, a gold dealing licence is distinct from a gold buying agency permit.
</blockquote>
Of late, stakeholders in the gold mining sector have been complaining over increases in gold sector licensing fees, but <a href="https://www.newzimbabwe.com/mthuli-ncube-pegs-gold-dealers-licence-at-us200k/">NewZimbabwe.com</a> reported government sources as saying licensing fees will allow the lower levels of society to benefit from the yellow metal.
Earlier this month, Fidelity Gold Refiners (FGR) general manager, Peter Magaramombe, told <a href="https://businesstimes.co.zw/rains-wash-away-gold-output/">Business Times</a> that gold production in Zimbabwe dropped by 26% to 3.79 tonnes in the first two months of this year from the 5.129 tonnes reported in the preceding comparative period.
The significant drop in gold output has been blamed on heavy rains received in most parts of the country.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

RBZ Speaks On Gold Dealing Licence Fees

The government has set the fee for a Gold Dealership Licence at US$200 000.
Finance and Economic Development Minister Mthuli Ncube announced the development under Statutory Instrument 32 of 2023. The SI reads in part:
<blockquote>
It is hereby notified that the Minister of Finance and Economic Development, in terms of Section 19 of the Gold Trade Act (Chapter 21:03) made the following regulations.
These regulations may be cited as the Gold Trade (License Fees) Amendment Notice 2023 No.1
The Gold Trade (License Fees) Notice 1987, published in Rhodesia Government Notice 256 of 1978 is amended by the repeal of paragraph 1 of Schedule 2 and the substitution of Gold dealing License US$200 000.
</blockquote>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Govt Pegs Gold Dealership Licence Fee At US$200 000

Gold production in Zimbabwe dropped by 26% to 3.79 tonnes in the first two months of this year from the 5.129 tonnes reported in the preceding comparative period.
The significant drop in gold output has been blamed on heavy rains received in most parts of the country.
Fidelity Gold Refiners (FGR) general manager, Peter Magaramombe, told <a href="https://businesstimes.co.zw/rains-wash-away-gold-output/">Business Times</a> that it was imperative to pump out water from mines to boost gold production. He said:
<blockquote>
Our gold deliveries have gone down significantly as the artisanal and small-scale producers were significantly affected by the rains from mid-December 2022 to date.
(Gold miners) are failing to mine due to high water levels.
There are fears of possible mine collapse accidents hence production fell significantly.
</blockquote>
Magaramombe said large-scale producers delivered 1.69 tonnes to FGR in January and February 2023. Small-scale miners delivered 2.099 tonnes during the same period.
As a result, gold export receipts fell 24% to US$228.73 million during the first two months of this year from US$302.5 million earned in the previous comparative period.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Zimbabwe's Gold Output Drops 26% Due To Heavy Rains

The World Bank has projected that Zimbabwe’s economy will grow at a modest growth rate in 2023 against a weakening global economic growth outlook, according to Xinhua.
Speaking at the Economic and Business Outlook Symposium, organized by the Confederation of Zimbabwe Industries in the Zimbabwean capital of Harare on Wednesday, World Bank Senior Economist for Zimbabwe Stella Illieva said Zimbabwe’s economic growth is projected to be around 3.6 per cent in 2023, a slight increase from 3.4 per cent recorded in 2022.
Commenting on global growth projections, Illieva said growth in the sub-Saharan Africa region is more promising than the global outlook, as global growth is expected to decelerate to 1.7 per cent this year, the weakest in three decades.
She said rising geopolitical tensions and trade fragmentation elsewhere as well as climate change shocks will result in a significant slowdown of growth.
Illieva added that weakening economic activities in the global economy will have spillover effects on emerging markets and developing countries, which include Zimbabwe. She said:
<blockquote>
Aggressive monetary policy tightening to contain high inflation, deteriorating financial conditions, and continued disruptions from the war in Ukraine are the drivers of this worsening economic performance on a global scale.
</blockquote>
Growth in South Africa, the major trading partner of Zimbabwe, is expected to weaken further this year to 1.4 per cent before reaching 1.8 per cent in 2024, she said.
In addition, Illieva said the weak growth in global markets will have an adverse effect on the prices of metals and other commodities which Zimbabwe depends on. She said: 
<blockquote>
Prices of gold, tobacco, and platinum have been in decline since 2022; this trend is expected to continue this year, at least for gold and tobacco.
</blockquote>
She added that unfavourable terms of trade mean higher import bills and cost of living, fewer exports, and pressure on the domestic currency and labour market.
Her projections are slightly lower than the 3.8 per cent projections made by Finance and Economic Development Minister <a href="https://www.pindula.co.zw/Mthuli_Ncube">Mthuli Ncube</a> last year during the presentation of the <a href="https://zero.pindula.co.zw/2023-budget-allocations-to-government-departments/">2023 national budget last November</a>.
Ncube said the growth would be driven by favourable international commodity prices, a good agricultural season, and tight monetary and fiscal policy, among other reasons.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

World Bank Projects Zimbabwe's Economy Will Have A Modest Growth Rate In 2023

State-owned gold buyer, Fidelity Gold Refinery (FGR), has projected gold deliveries to reach 40 tonnes in 2023 mainly due to new gold mining projects coming into production.
FGR general manager Peter Magaramombe told the <a href="https://www.theindependent.co.zw/local-news/article/200006940/gold-deliveries-to-hit-40t">Independent</a> that the company received 35 tonnes of gold in 2022, an increase of 18.9% from the same period in 2021. He said:
<blockquote>
We have projected the gold deliveries in 2023 to reach 40 000 kg, an increase of 4 700 kg or 13.4% on 2022 gold deliveries.
</blockquote>
Magaramombe said additional gold buying centres will be opened in active regions. He added:
<blockquote>
FGR will continue to provide a competitive pricing framework benchmarked to the London Bullion Market Association (LBMA) prices at a discount of 5%.
</blockquote>
He also said the FGR will continue to offer United States dollar (USD) spot cash payments for gold lodgements.
This will be done to ensure that small-scale gold producers are not financially constrained.
Magaramombe said in 2021, gold miners delivered 29 664kg, increasing the deliveries in 2022 by 5 616kg with a total of 35 280kg delivered during the year. He said:
<blockquote>
The highest gold receipts were experienced during the third quarter of 2022 (9 680kg) and the fourth quarter (9 618kg).
This and the general surge in gold receipts could be attributed to several factors.
The accessibility of working areas (shafts) by small-scale miners as the water table lowers during the third and fourth quarters.
The incidence of maturing projects for large-scale mines having the effect of new additional gold receipts by FGR.
</blockquote>

Gold Deliveries Projected To Reach 40 Tonnes In 2023

Zimbabwe risks missing its ambitious target of making the nation’s mining industry a US$12 billion industry by 2023 as it has already missed its US$3.7 billion mineral sales targets for the 11 months of 2022.
<ul>
<li><a href="https://zero.pindula.co.zw/zimbabwe-on-course-to-achieve-us12-billion-mining-industry-by-2023-minister/">Zimbabwe On Course To Achieve US$12 Billion Mining Industry By 2023 – Minister</a></li>
</ul>
Sales were just under US$3 billion as of October 2022 mainly due to commodity prices underperforming in the period under review, NewsDay reported citing Minerals Marketing Corporation of Zimbabwe (MMCZ) general manager Tongai Muzenda. He is quoted as saying:
<blockquote>
Up to the end of November 2022 total sales excluding gold which is under the purview of FPR, were close to US$3 billion up to the end of November which is lower than budgeted for. We had hoped to get up to US$3,7 billion by the end of November.
But if you compare to last year we were very close although we are still below, last year we were just over US$3 billion for sales.
Generally the market has been low on most of our minerals, on ferrochrome and chrome, for example, and buying interest was quite low against the backdrop of a reduction in stainless steel production.
</blockquote>
Muzenda said the biggest contributor was the platinum group of metals (PGMs), coal and its products such as coke.
He said the smaller contributors included iron, manganese, copper and steel products.
He added that global supply for the platinum group of metals was expected to be 9% lower in 2022 compared to 2021. Muzenda also said platinum demand and prices appear to be on course to recovery and the highest is rhodium.
Gold and other minerals combined could rake in an estimated US$5.1 billion in 2022.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Zimbabwe Risks Missing The US$12 Billion Mining Industry By 2023 Target

A Kwekwe man assigned by his employer to buy gold with US$16 500 reportedly went on a spending spree and blew all the money without using it for its intended purpose.
James Assima Gamton (42) of Mbizo Kwekwe was employed at Lisboa Mine Penhalonga and was given US$16 500 to buy gold on behalf of Raramai Nyakonga (35) who is a gold buyer.
Gamton allegedly gave US$5 000 to his girlfriend, Tafadzwa Mukono, and spent the rest on relatives and a family function.
Mukono confessed to receiving wads of US$10 notes amounting to US$5 000 from the accused.
Gamton pleaded guilty to the charges of theft of trust property when he appeared before Mutare magistrate Prisca Manhibi.
He was sentenced to five years in jail, with one year suspended on condition of good behaviour.
Magistrate Manhibi further suspended another two years on condition Gamton restitutes Nyakonga US$12 500.
Prosecuting, Sandra Mlambo said during the period extending from August 1 to 15, 2022 the accused was given US$16 500 by Nyakanyonga to buy gold at Lisboa Mine. She said:
<blockquote>
The accused who was employed by the complainant was handed US$3 000 to purchase gold in Penhalonga. He bought gold worth US$1 500 and left with a balance of US$1 500.
On August 12, the accused surrendered gold worth US$1 500 to the complainant. He was given a further US$15 000 to buy more gold from the same mine.
</blockquote>
He was supposed to return on daily basis with the gold but he suddenly disappeared.
The matter was reported to Police. Investigations revealed that the accused was with his girlfriend in Mutare CBD.
It was established that Mukono had already spent some of the money on his father’s memorial service in Kwekwe and also bought personal items
He allegedly gave some of the cash to a parent, siblings, and his estranged wife.
When Mukono was searched, she was found with only US$200 tucked away in her private parts.
Some of the money had been given to Rumbidzai Chitiza of Harare, Talent Sixpence and Eunice Fambisai for safe-keeping.
| <a href="https://masvingomirror.com/girlfriend-gets-us5k-after-man-stole-us165k-from-gold-dealer%ef%bf%bc/">The Mirror</a>

Girlfriend Gets US$5 000 After Man Steals US$16 000 From Gold Dealer

A gold buyer held hostage a Chinhoyi couple for selling him fake gold worth US$24 000.
Donald Chiwenga (45) has since appeared before Dennis Manogid accused of holding hostage Eric Marangarire and Mercy Maphosa after establishing they had sold him 480 grams of fake gold, <a href="https://www.newzimbabwe.com/chiwenga-duped-into-buying-fake-gold-for-us24000-takes-couple-hostage-in-revenge-and-force-them-to-handover-4-vehicles/">NewZimbabwe</a> reported.
The court heard that Chiwenga also forcibly took the couple’s four vehicles to make up for what they had done to him.
Chiwenga appeared before Harare Magistrate Dennis Mangosi and was remanded in custody until January 21 of 2023.
The  National Prosecuting Authority (NPA) alleges Chiwenga purchased 480 grams of fake gold worth US$24 000 from Marangarire and Maphosa.
The court heard that Chiwenga only realised it was fake when he was smelting it in Kwekwe.
Infuriated by this, Chiwenga planned a payback by holding the couple hostage and forcing the two to sign agreements of sale of their four vehicles to his name in the presence of a lawyer.
The cars include a Mercedes Benz, Honda Fit, Toyota Hilux and Toyota Corolla.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Gold Buyer Buys Fake Gold Worth US$24 000

A South African court has ordered the seizure of 23 pieces of gold, worth R9 million, that were smuggled by a Zimbabwean man, Tashinga Nyasha Masinire, into the neigbhouring country last year.
<ul>
<li><a href="https://news.pindula.co.zw/2021/05/10/full-text-gold-smuggler-resigned-as-rushwayas-driver/">FULL TEXT: Gold Smuggler Had Resigned As Rushwaya’s Driver</a></li>
</ul>
The High Court in Joburg granted a final forfeiture order for the contraband which Masinire attempted to smuggle through O.R. Tambo International Airport. Said Gauteng Hawks spokesperson Captain Lloyd Ramovha:
<blockquote>
Nyasha was arrested by members of the Hawks’ serious organised crime with the assistance of customs officials at OR Tambo International (ORTIA) after he landed from neighbouring Zimbabwe.
He consequently appeared in the Kempton Park Magistrate’s Court facing charges of illegally dealing with precious metals.
The court granted him R100 000 bail, and he has been in attendance since. His next appearance is scheduled for later this year.
</blockquote>
In May, Hawks national spokesperson Lieutenant-Colonel Philani Nkwalase said Masinire’s release on bail came with strict conditions. Said Nkwalase:
<blockquote>
Some of the conditions include that he should not leave South Africa, and he also has to report to the nearest police station at least three times per week.
</blockquote>
Masinire was arrested shortly after landing at OR Tambo International Airport.
The SA Revenue Service found 23 pieces of gold in Masinire’s luggage after he was requested to scan it at the international arrivals’ customs section. Added Nkwalase:
<blockquote>
He allegedly failed to declare any items and did not have any permits or licences to be in possession or transport gold, and the Hawks were called to effect the arrest.
</blockquote>
Masinire is a former driver of Zimbabwe Miners Federation President <a href="https://www.pindula.co.zw/Henrietta_Rushwaya">Henrietta Rushwaya </a>who was also arrested at the Robert Gabriel Mugabe International Airport while attempting to smuggle gold. | <a href="https://www.iol.co.za/news/crime-and-courts/south-africa-officially-seizes-r9-million-gold-from-zimbabwean-man-who-attempted-to-smuggle-it-24a6db93-a425-4d7b-8d9f-8869856b66b5">IOL</a>

South Africa Officially Seizes 23 Pieces Of Gold From Henritta Rushwaya's Former Driver

The Zimbabwean government wants gold, diamond and platinum miners to pay half of their royalties to the government in the commodities themselves and the rest in cash.
Finance and Economic Development Permanent Secretary <a href="https://www.pindula.co.zw/George_Guvamatanga">George Guvamatanga</a> said the move is aimed at building the southern African country’s mineral reserves.
In a letter sent to the Ministry of Mines on September 2, 2022, Guvamatanga said the Treasury was concerned that the country does not have reserves of the minerals, which “serve as a source of trust in a country given that they carry no credit or counterparty risks,” 
Guvamatanga confirmed the Treasury’s plans in a phone interview with Bloomberg on Friday saying “It’s something we want to implement.” 
Polite Kambambura, deputy mines minister, said in a phone interview that consultations are still being undertaken with miners, including multiple meetings this week. He said:
<blockquote>
The whole idea by the Ministry of Finance is that they want to store value of our royalty.
</blockquote>
Mining companies that operate in Zimbabwe include subsidiaries of Impala Platinum Ltd., Anglo American Platinum Ltd. and Sibanye Gold Ltd. 
Zimbabwe has the world’s third-largest reserves of platinum and also mines gold, diamonds, nickel, chrome, lithium and coal.
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

Govt Wants Miners To Pay Royalties In Diamonds, Gold, Platinum

The chief suspect in the 14-kilogramme gold case that happened in Plumtree in 2018 has been arrested.
Police in Bulawayo arrested Jefat Chiganda (54) last Wednesday in Emakhandeni after he allegedly sneaked into the country from his hideout in South Africa.
The 2018 cold case also resulted in the arrest of nine other suspects that included a magistrate, prosecutor, lawyer, police officers and Johane Masowe congregants back then.
Chiganda skipped bail last year and his lawyers, Nyikadzino, Simango and Associates, told Bulawayo High Court judge, Justice Thompson Mabhikwa, in court, that he was dead although they could not produce a death certificate.
A warrant of arrest was immediately issued and more than a year later, Chiganda was arrested in Bulawayo.
He appeared before Bulawayo High Court judge, Justice Evangelista Kabasa on Thursday and was immediately commuted to prison pending finalisation of the gold case.
Chiganda had other warrants of arrest after two pending cases, one of which he was convicted by a Bulawayo magistrate and sentenced to four years in prison.
He appealed to the High Court and was granted bail but also defaulted on his bail conditions.
In one of the cases, Chiganda was arrested on 7 July 2018 in possession of 14kgs of the gold in a Botswana bound train.
According to prosecutors, Chiganda was in the company of Sidingumuzi Ncube, a police officer at Plumtree who, however, ran away from the train after discovering that they had been cornered by Zimbabwe Revenue (ZIMRA) officials.
It later emerged that Chiganda was allegedly working with a lawyer, a magistrate, a prosecutor, police officers, and business people to release the gold which they later sold to Fidelity Refiners and Printers for nearly US$400 000.
Those who were arrested regarding the same case were Plumtree regional magistrate Timeon Tavengwa Makunde, area public prosecutor Stanley Chinyanganya, prominent Harare lawyer Admire Rubaya, three police officers based at Plumtree-Ncube, Tyson Ruvando and Ginger Vhiyano.
Two other police officers from the Minerals and Border Control, Ladislous Tamboonei and Ladislous Tinacho were also arrested together with Chaganda and Godfrey Makuvedze who are members of the Johane Masowe eChishanu sect.
<h4>More: <a href="https://www.sundaynews.co.zw/dead-14kg-gold-smuggler-resurfaces-arrested/">The Sunday News</a></h4>

‘Dead’ 14kg Gold Smuggler Resurfaces

Police have arrested two men in connection with the murder of the manager of a mine in Mashonaland West Province on Wednesday night.
Admire Tasaranarwo (29) and Talent Meza (21) allegedly murdered Robert James Chilcott (68) at Seigneury Mine, Saruwe and stole a truckload of gold ore.
In a statement on Saturday evening, national police spokesperson Assistant Commissioner Paul Nyathi said the duo were part of a group of 40 people who attacked Chilcott after he made an unannounced visit to the mine to confirm reports of theft of gold ore by syndicates. Said Asst Comm Nyathi:
<blockquote>
The Zimbabwe Republic Police confirms the arrest of Admire Tasaranarwo (29) and Talent Meza (21) in connection with the murder of Robert James Chilcott (68) on 15th September 2021 at Seigneury Mine, Saruwe.
The two together with several other suspects who are still at large conspired to steal gold ore from the mine and hired a Nissan UD truck registration number ADK 2362 to transport the loot.
The victim clashed with the gang as he made an unannounced visit to the mine to confirm reports of theft of gold ore by syndicates working in cahoots with his workers.
40 suspects attacked Chilcott indiscriminately all over the body leading to his death. The suspects shared the ore amongst six syndicates and dispersed.
Police recovered some gold ore and 2 buckets of gold concentrate which was being milled at Zheng-Zim Investments, Calton 45 Mill, Chegutu and the Nissan UD truck used by the suspects in the commission of the offence. More arrests are pending in this case.
</blockquote>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Seigneury Mine Manager Killers Arrested

Two Zimbabwe Republic Police (ZRP) officers who were part of a gang of four <a href="https://news.pindula.co.zw/2021/08/07/suspected-police-officer-flees-after-shooting-mine-worker/">cops who allegedly participated in a foiled gold heist</a> in which they shot and seriously injured a miner in Gwanda have been arrested.
The police officers shot Vumani Moyo once on the hip before fleeing and leaving the rifle behind.
A leaked police memo, report number 4742704 at Gwanda rural police identified the cops as constables Mangena (25), Edmore Mausa (31), Sibanda and Admire Bangure.
However, Mausa and Sibanda are still at large.
The four who were not on duty attempted to rob miners who were processing gold ore at Cobra West Mine after an unsanctioned raid on August 6.
Bangure who was armed with an AK 47 allegedly opened fire injuring Vumani Moyo who is a miner.
The miners hit the intruding cops with stones until they sped off in a private car.
During the flight from the scene, Bangure dropped the AK 47 rifle.
Reports suggest that the accused disembarked from a silver commuter omnibus and <a href="https://news.pindula.co.zw/2021/08/07/suspected-police-officer-flees-after-shooting-mine-worker/">tried to arrest the owner of the mine, Thandiwe Moyo.</a>
Other workers intervened resulting in the “police” firing and injuring Vumani before fleeing the scene living the rifle behind.
Police sources claimed that initial investigations revealed that the rifle, an AK 47 serial number ZRP2004 with 29 rounds and one used cartridge belonged to the ZRP.
More: <a href="https://news.pindula.co.zw">Pindula News</a>; <a href="https://www.newsday.co.zw/2021/08/four-zrp-officers-in-botched-gold-heist-bid/">NewsDay</a>

UPDATE: Two Cops Arrested Over Foiled Gold Heist

Hundreds of ZANU PF youths reportedly invaded a Shurugwi gold mine owned by Urayayi Marima and went away with one tonne of gold ore.
Bravo Mine in Wonderer located about 10 kilometres from Shurugwi Mine was allegedly invaded on Thursday last week by the marauding youths who disarmed the guards at the mine.
Zimbabwe Republic Police (ZRP) Midlands Provincial spokesperson Emmanuel Mahoko told Masvingo Mirror that he was yet to receive a report on the incident.
The mine owner, Marima, confirmed the incident and said that it happened while he was away in Kwekwe.
Marima said the youths descended on his mine aboard several kombis and other cars demanding a shift so that they could mine for gold in the tunnels but they were turned down. He said:
<blockquote>They thoroughly beat everyone around and disarmed security at the mine before firing bullets into the air.
They fled the mine with a tonne of gold ore when they heard that the police was coming. These youth are using the ZANU PF name to try and grab people’s mines.
To get this mine I went through proper protocols and even engaged Shurugwi North MP Robson Nyathi.</blockquote>
ZANU PF Shurugwi District Coordinating Committee (DCC) secretary for youth affairs Newton Mukunzwe expressed displeasure over the invasion of the mine by the youths. Said Mukunzwe:
<blockquote>These youth did not inform or engage with any party structure. I was informed that they invaded Bravo mine singing chimurenga songs.
Youths should come and engage their leadership over these issues before taking action because if they need a place to mine the DCC will assist so that they don’t terrorise people who have invested a lot of money into their mining claims.
Again, we are under COVID-19 and everyone should adhere to COVID-19 protocols.</blockquote>
<h4>More: <a href="https://masvingomirror.com/zanu-pf-youth-invade-mine-steal-1-tonne-of-gold-ore/">Masvingo Mirror</a></h4>

ZANU PF Youths Invade Mine, Steal 1 Tonne Of Gold Ore

Three trapped gold panners are yet to be rescued after the tunnel they were working in collapsed in Shurugwi over a week ago.
The three panners, who were part of a 7-member group, have been trapped underground since last Sunday.
The Shurugwi District Civil Protection Unit on Friday stopped the search for the panners due to unstable ground.
Chief engineer in the Ministry of Mines and Mining Development Engineer Michael Munodawafa said they have to find other means to reach the trapped miners. He said:
<blockquote>The rescue operation had been going on from Sunday to Friday before they reached an unstable ground level.
It became dangerous for the rescue team to continue digging. So they are now attempting other ways or channels of reaching them.</blockquote>
According to Eng Munodawafa, the chances of finding the trio alive were now very slim.
He said the three entered the mine at around 7 pm last week while their four colleagues remained outside. Said Munodawafa:
<blockquote>At around 4 am there was a huge sound as the ground collapsed. Entrance into the tunnel was closed and there hasn’t been any form of communication with the three since Sunday. The other four then looked for assistance.</blockquote>
Munodawafa also said that from January to date, 22 illegal miners have lost their lives when shafts and tunnels caved in countrywide.
<h4>More: <a href="https://www.chronicle.co.zw/just-in-three-gold-miners-still-trapped-in-mine-tunnel/">Chronicle</a></h4>

Three Gold Panners Still Trapped In Mine Tunnel

Three illegal gold miners were Sunday trapped in a mine at Kambadown near Shurugwi Town after a tunnel collapsed around 4 AM.
The District Development Coordinator (DDC) Romeo Shangwa confirmed the incident to Masvingo Mirror, saying they are working flat out to retrieve the miners who are suspected to have died. Said Shangwa:
<blockquote>We have worked tirelessly since yesterday but we are losing hope. Three illegal miners are trapped underground in the mine which belongs to Zimasco. The mine had been abandoned following heavy rains</blockquote>
Masvingo Mirror reported a source as saying that seven illegal miners went to an abandoned mine on Sunday. Three of the miners entered the mine at around 7 pm while the rest remained outside.
At around 4 am, those who had remained outside heard a huge sound which was a ground fall. The other four then looked for help.
The names of the trapped miners cannot be released until the next of kin are informed.
<h4>More: <a href="https://masvingomirror.com/shurugwi-gold-miners-trapped-since-sunday/">Masvingo Mirror</a></h4>

Shurugwi Gold Miners Trapped Underground Since Sunday

Home Affairs and Cultural Heritage Minister Kazembe Kazembe says authorities will leave no stone unturned in a bid to bring to justice a gold smuggling syndicate that was involved in the recent siphoning of 23 pieces of gold to South Africa.
This follows <a href="https://zero.pindula.co.zw/hawks-intercept-r11-million-gold-bars-from-zimbabwe/" rel="noopener" target="_blank">the arrest of Tashinga Nyasha Masinire in South Africa on Sunday</a> after he was found in possession of 23 pieces of gold allegedly smuggled from Zimbabwe.
Masinire was arrested at OR Tambo International Airport by South Africa’s anti-organised crime unit, the Directorate for Priority Crime Investigation (Hawks), and is facing charges of contravening the Customs Act 91 of 1964 and Precious Metals Act 37 of 2005.
Kazembe stated that investigations conducted so far indicate that Masinire was not working alone and all the culprits involved in the heist will be accounted for. He said:
<blockquote>We are going to leave no stone unturned until we get to the bottom of it. We want to establish how that happened, how he managed to go through all the security points. We will be able to establish what transpired and investigations are ongoing.
We have already established that when he walked in he didn’t have a bag, so we are going to find out how he ended up having a bag.
To complete our investigations, we need information from Interpol, ZRP is already engaging Interpol for relevant information given that the culprit was arrested in South Africa.
We not going to leave no stone unturned to unearth what actually transpired.</blockquote>
The smuggled 23 gold pieces are worth US$783 000 or R11 million. Masinire has already appeared in a South African court and was granted bail.
<h4>More: <a href="https://www.zbcnews.co.zw/government-speaks-on-gold-smuggling-saga/" rel="noopener" target="_blank">ZBC News</a></h4>

Govt Speaks On Masinire Arrest In South Africa For Gold Smuggling

South Africa’s Directorate for Priority Crime Investigation (Hawks) on Sunday intercepted gold bars worth R11 million at OR Tambo International Airport.
Preliminary investigations by the Hawks revealed that the suspect had travelled from Harare to Johannesburg.
This was revealed by Faith Mazibuko, a Member of the Executive Council (MEC) for Community Safety in the Gauteng Provincial Government.
Mazibuko, however, did not divulge the suspect’s nationality, age or gender as the Hawks continued with investigations. She tweeted:
<blockquote>The preliminary investigation by the Hawks revealed that the suspect travelled from Harare, Zimbabwe to Johannesburg, South Africa. The 23 pieces of gold worth R11 million were seized for further investigation.
</blockquote>
<blockquote data-partner="tweetdeck">
9 MAY 2021, ALLEGED SMUGGLER NABBED WITH GOLD AT OR TAMBO
The preliminary investigation by the Hawks revealed that the suspect travelled from Harare, Zimbabwe to Johannesburg, South Africa. The 23 pieces of gold worth R11 million were seized for further investigation. <a href="https://t.co/JVsjsvriak">pic.twitter.com/JVsjsvriak</a>
— MEC Faith Mazibuko (@FaithMazibukoSA) <a href="https://twitter.com/FaithMazibukoSA/status/1391436158459125761?ref_src=twsrc%5Etfw">May 9, 2021</a></blockquote>

In December last year, Home Affairs Minister Kazembe Kazembe said Zimbabwe loses US$100 million every month due to gold smuggling.

Hawks Intercept R11 Million Gold Bars From Zimbabwe

Henrietta Rushwaya says she wants her 6kgs of purified gold back as she had no intention of smuggling it.
The gold, worth about US$333 000 is being kept at Fidelity Printers and Refiners pending Rushwaya’s trial.
Through her lawyer Tapson Dzvetero, Rushwaya told a magistrate that she had no knowledge that the bag she carried to the airport had gold in it.
Rushwaya maintained that she took the handbag with gold believing that it contained her clothes, foodstuffs and other personal belongings.
Rushwaya said she does not dispute that at her house she had and was in possession of the gold, as she is a fully-fledged miner in her own right, but the allegation that she intended to smuggle it.
Rushwaya said this in her submissions during bail application heard before Harare regional magistrate Ngoni Nduna. Dzvetero said:
<blockquote>The accused person (Rushwaya) denies all the charges. She denies she ever had an intention to smuggle gold outside the country. The accused asserted this aspect on the day of her arrest to the arresting detail, Bruno Chiketo.
She had no knowledge that the bag she had carried contained gold and that she was of the mistaken belief that the bag contained her clothes, foodstuffs and other personal belongings.
She states that she could not have been naive to bring gold through an airport which she fully knows has scientific detectors.
… It is common cause that the gold is secured at Fidelity Printers and Refiners and it is submitted that the gold itself is in itself security to Rushwaya that when she is acquitted of the State ailing case, she is entitled to recover her value of US$333 000.</blockquote>
Rushwaya was arrested on 26 October at the Robert Gabriel International Airport after security officers detected gold in her handbag.
She has however alleged that the issue is now being used to score cheap political points.
<h4>More: <a href="https://www.herald.co.zw/just-in-henrietta-wants-her-gold-back/" rel="noopener noreferrer" target="_blank">The Herald</a></h4>

Henrietta Rushwaya Wants Her Gold Bars Back

Pedzisayi Scott Sakupwanya, a gold dealer who set tounges wagging after pictures of him posing in front of US$5 million cash and several kilograms of gold went viral on social media, said he is not a gold smuggler but a legitimate gold buyer.
In an interview with State of The Nation, Sakupwanya claimed he has a registered business that buys and sells gold in Zimbabwe to Fidelity Printers and Refiners (FPR). He said:
<blockquote>I am a legit gold buyer with gold mines and a network of over 400 runners across Zimbabwe. I sell the gold I get to FPR.
I have never smuggled gold outside the country. You can go and verify with them. All the records and papers are there.
I know people are trying to tarnish my image by calling me a looter and a smuggler but to tell you the truth, I have never looted or smuggled gold.
I am just a citizen who is into the business of mining and buying gold.</blockquote>
Sakupwanya said he recently lost his cell phone and he suspects the thieves who stole it were responsible for spreading the pictures. He said:
<blockquote>You see, in our field, we take pictures of the gold and money we have in stock and share them with potential sellers. I used my phone to take those pictures, not for clout but to show my capacity to buy to sellers because before one sells, he/she needs to know if you have the capacity to buy that’s why I would take pictures in front of the gold or money. If you noticed on the pictures, I come out holding a card indicating my name and date. I put those details to show that I am a legit dealer.</blockquote>
Meanwhile, FPR General Manager Fradreck Kunaka said Sakupwanya is one of the company’s gold buying agents who buys the precious metal from small scale miners and sells it to them.
Sakupwanya’s pictures went viral on Monday last week a few moments after the Zimbabwe Miners Federation President Henrietta Rushwaya was caught at Robert Mugabe International Airport while attempting to smuggle 6kgs of gold outside Zimbabwe.
<h4>More: <a href="https://stateofthenation.co.zw/2020/10/29/i-am-not-a-gold-smuggler-sakupwanya-opens-up-on-leaked-gold-pictures/">State of The Nation</a></h4>

Scott Sakupwanya Speaks On Leaked USD Cash, Gold Pictures

The <a href="https://www.pindula.co.zw/Zimbabwe_Republic_Police" rel="noopener noreferrer" target="_blank">Zimbabwe Republic Police (ZRP)</a> arrested four men in <a href="https://www.pindula.co.zw/Norton" rel="noopener noreferrer" target="_blank">Norton</a> after they ambushed a man and robbed him of ZWL$300.00 and 40 kilogrammes gold ore.
The men were armed with two machetes, an axe and two wooden logs. In a statement on Twitter, police said:
<blockquote>ZRP Norton has arrested Privilege Damson (29), Casper Karuru (32) Stephen Mazambani (24) and Godwell Mukune (31) for Armed Robbery after they ambushed the complainant and stole ZWL300, 00 and 40kgs of gold ore. The quartet was armed with 2 machetes, an axe and 2 wooden logs.
They went on to process the gold ore and sold the proceeds. A follow up was made by the complainant and his colleagues and 1 person was struck with an axe as the accused persons resisted the civil arrest.
Police were called in and managed to arrest all the 4 accused persons who are now in custody and will appear in court soon. 2 logs and an axe were recovered.</blockquote>
<h4>More: <a href="https://twitter.com/PoliceZimbabwe/status/1216741816436961280" rel="noopener noreferrer" target="_blank">@Police Zimbabwe</a></h4>

Four MaShurugwi Nabbed In Norton

Finance Minister <a href="https://www.pindula.co.zw/Mthuli_Ncube" rel="noopener noreferrer" target="_blank">Mthuli Ncube</a> said that between 30 tonnes and 34 tonnes of gold are smuggled to South Africa partly due to the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe" rel="noopener noreferrer" target="_blank">Reserve Bank of Zimbabwe’s (RBZ)</a> foreign currency retention policy.
Ncube made the comments at a breakfast meeting organised by the Daily News and the Ministry of Mines and Mining Development. He said:
<blockquote>When we spoke to our colleagues in South Africa at the Rand Refinery in Cape Town, we saw a jewellery shop, they said that’s all your gold from Zimbabwe. A total of between 30 and 34 tonnes are smuggled into South Africa.</blockquote>
Ncube said that he will a discussion with RBZ governor <a href="https://www.pindula.co.zw/John_Mangudya" rel="noopener noreferrer" target="_blank">John Mangudya</a> on the gold output and retention percentages to encourage goll to sell their gold through proper channels.
In February this year, the RBZ established the 55% forex retention threshold, where 45 per cent of miners’ earnings are paid in Zimbabwean Dollars.
<h4>More: <a href="https://businesstimes.co.zw/smuggling-costs-zim-gold-stash/" rel="noopener noreferrer" target="_blank">Business Times</a></h4>

34 Tonnes Of Gold Smuggled To South Africa - Mthuli Ncube

ZBC reports that the Reserve Bank of Zimbabwe has disbursed ZWL$130m to gold producers through the bank’s subsidiary, Fidelity Printers and Refiners. The money has been disbursed as part of the Gold Development Initiative Fund (GDIF).
RBZ Governor Dr. John Mangudya said the money is meant to “support gold producers for them to realise their targets,”
In June 2019, The RBZ said that it was planning to increase GDIF from $150 million to $1 billion in order to capacitate and lure the yellow metal miners to sell their mineral through formal channels.
More: <a href="http://www.zbc.co.zw/rbz-disburses-zwl130m-for-gold-producers/">ZBC</a>, <a href="https://businesstimes.co.zw/rbz-plans-1-billion-bailout-for-gold-miners/">BusinessTimes</a>

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