GMA gets $50 million

The Gold Miners Association of Zimbabwe has acquired $50 million from multilateral institutions, with $6 million already being channelled into recapitalisation.

Gold panning
Gold panning

The deal comes at a time when the small-scale miners are facing financial constraints.

Small-scale miners’ production of the precious metal has been low owing to unavailability of funding to replace old machinery.

The funding of the small-scale miners will be channelled towards acquiring appropriate technology to boost operations.

The national gold output is projected to exceed eight tonnes this year, complimented by the continued exploration of new deposits.

Post published in: Business

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