By PAUL NYAMBE
A MINING expert Edward Simukonda has advised the government to start buying gold from small-scale miners to build national reserves and help revamp the country’s economy.
Mr Simukonda said in an interview he believes the initiative will not only support miners but also contribute to economic stability.
He explained that small-scale miners often struggle to find a stable market for their gold, forcing them to sell at lower prices or engage in informal transactions hence by providing a guaranteed market, the government can ensure fair pricing and increase formal trade in the sector.
Mr Simukonda emphasised that buying gold locally would help the authorities monitor production more effectively, improve tax collection, and ensure the government captures all gold quantities that might otherwise go unaccounted for. According to Mr Simukonda, strengthening gold reserves would elevate gold users and industries reliant on the metal, generate revenue, support various sectors of the economy, and stabilise the local currency, prompting him to encourage the government to take this step.
He also said with Zambia seeking ways to enhance economic growth, the call to secure locally mined gold could be a strategic move only if implemented effectively. The initiative may provide a win-win solution for both miners and the national economy.
