By SILUMESI MALUMOBANK of Zambia and Kansanshi Mining Company have signed a gold purchase agreement in order to mop up enough gold for reserves.Bank of Zambia Governor Christopher Mvunga said he was confident that this agreement would help the Central bank’s efforts to build gold reserves.Mr Mvunga also said the agreement would enable the country boost its foreign reserves and enhance market confidence in the bank’s ability to fulfill its mandate of price and financial system stability.He said yesterday during the signing ceremony at Bank of Zambia that this agreement was an important milestone in the Central bank’s efforts to resume the holding of gold as part of the country’s foreign exchange reserves.“We are delighted that the gold will be sourced locally. In this regard, Kansanshi Mining Plc was identified as a counterparty since it has been producing the commodity on a commercial basis since 2006,” he said.The central bank Governor said apart from Kansanshi, […]
BoZ, Kansanshi Mining seal gold pact
