Zambia plans Gold Trade Agency to centralise gold buying, exports

Zambia is planning to establish a Zambia Gold Trade Agency to centralise the buying and export of gold as the Government moves to formalise the country’s growing artisanal and small-scale gold mining sector.

Ministry of Mines and Minerals Development Permanent Secretary Dr Hapenga Kabeta said the proposed agency would establish gold-buying points and appoint aggregators across the country to purchase gold on behalf of the Government.

He said the agency would play a central role in the buying and export of gold, while the Bank of Zambia would have the right of first refusal to acquire gold for reserve accumulation.

Dr Kabeta said the proposed framework is currently undergoing legal consideration and is intended to ensure that gold destined for export leaves Zambia through a single, controlled window.

The Government is also developing a gold traceability system to establish where gold is produced and ensure that the commodity moves through recognised and transparent channels.

The measures form part of a broader formalisation programme built around legality, safety, formal trade and security in mining areas.

Dr Kabeta said the Government is also training people involved in gold mining on safe and responsible mining practices, with training conducted in Solwezi, Mufumbwe and Mpika, while similar programmes are underway in Kabwe.

He said evidence of such training could eventually become a licensing requirement for cooperatives involved in gold mining.

The Permanent Secretary disclosed the plans during discussions with the World Gold Council and the Artisanal Gold Council on Zambia’s proposed Artisanal and Small-Scale Gold Mining programme.

World Gold Council Chief Executive Officer David Tait said the success of the programme would require cooperation among government institutions, mining communities and other stakeholders.