An estimated eight tonnes of gold deals worth close to $300 million are conducted in the informal market with the precious mineral being smuggled to mainly neighbouring South Africa, a senior Government official has said.
Addressing business executives at the CEO Africa Roundtable meeting held at a local hotel in Bulawayo last Friday Deputy Minister of Finance and Economic Planning, Terrence Mukupe, said gold was being smuggled because Government was not giving full value of the yellow metal delivered by small-scale miners to the country's sole gold buyer, Fidelity Printers and Refiners.
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