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'Spread the word!' Zambia buys artisanal gold to formalize wildcat mining
By Chris Mfula
Reuters
Friday, March 6, 2020
LUSAKA, Zambia -- Zambia's mining investment arm ZCCM-IH has started buying gold from artisanal and small-scale miners in a bid to formalise the unregulated sector whose ranks have swelled worldwide as gold prices soar, the agency said today.
Governments across Africa are scrambling to tackle informal mining of gold, which has significant health and environmental risks and contributes to illicit flows of money, depriving states of revenue when the metal is smuggled across borders.
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Ethiopia, for example, runs artisanal gold buying centres that offer a higher price than the going market rate to attract miners away from the black market. "ZCCM-IH is providing an open market and competitive prices for gold," an advertisement by the company reads, adding that gold sellers could bring the gold to its Lusaka offices.
"Looking forward to doing business with you!" reads the advertisement, circulated on WhatsApp. "It is cash on delivery. Spread the word!" ...
... For the remainder of the report:
https://www.reuters.com/article/zambia-mining/spread-the-word-zambia-buy...
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