Zimbabwe: Gold Price Increase Will Not Curb Illicit Trade

Bomb blast in Zimbabwe condemned
Bomb blast in Zimbabwe condemned

Zimbabwe Environmental Law Association (ZELA) has said the move by government’s sole gold buyer Fidelity Printer and Refineries to improve prices for gold delivery alone without comprehensive changes, will not curb illicit trade of the bullion.

In an analysis of the new FPR gold buying framework, ZELA said prices variations alone without a complete turnaround to officially recognize Artisanal and Small-Scale Gold Miners (ASGM), ‘is not enough to remove oxygen for illicit gold market’.

In its…

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