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RBM Yet To Identify Gold Processing Company

RBM Yet To Identify Gold Processing Company

The Reserve Bank of Malawi (RBM) has confirmed that it is yet to identify a Company to help in purifying alluvial gold the Central Bank is buying from artisanal and small scale miners in the country, over five months after announcing plans to engage the company for the exercise.

RBM spokesperson Ralph Tseka has told Zodiak Online on Wednesday that procurement processes are underway and that once the process is completed, the general public will be informed but said buying of gold continues.

“In terms of identifying a company that will purify the gold, the procurement process is still on going and when the procurement process is finished then we should be able to come up with a company that will have been identified through the process and we will update you” said Tseka.

He has since disclosed that so far, over 100 kilograms of gold have been bought.

But Natural Resources Justice Network chairperson Kossam Munthali said the delay to identify the company is depriving the country from adequately benefiting from mining operations as well as exposing it to smugglers.

“While we appreciate some positives in terms of reserve being there to buy, but this aspect of delay to do things I think they can do much better” said Munthali.

“All what we are interested as stakeholders is to appreciate their road map, they had promised to quickly work on the clear road map the time they started, by the time this company will be identified the reserves will not match with the reserves of gold we would have benefited as a country” he added.

Munthali while asking RBM to work with speed and give itself timeframe, also said if well managed; the selling of the gold would have helped the country generate some foreign currency which is in short supply in the country.

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Last modified on Friday, 30/09/2022

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