Bulawayo rejects bond notes

Bulawayo rejects bond notes
Published: 24 September 2017 (433 Views)
Small scale mining companies are struggling to buy spare equipment in Bulawayo as the manufacturers and distributors are refusing to accept bond notes.

This was revealed at the Matabeleland North provincial alternative indaba held at Inyathi Training Centre in Bubi distrct.

Small scale mining companies are making efforts to improve production levels with statistics revealing that they have been producing more than the large scale miners in the last three months.

However, the refusal to accept bond notes by companies selling spare parts is beginning to affect operations in small scale mining.

The few companies accepting bond notes charge higher prices for the same equipment while those who use the hard currency pay less.

Deputy president of the Chiefs' Council, Chief Mtshane said it is unfortunate that the small scale mining sector is facing a number of challenges which have been derailing its growth.

"There are too many barriers and this makes it difficult during the mining operations. This in turn affects the amount of gold that the players can get and it is obvious that the sector is producing less than what it used to," he said.

The license fees to buy explosives was reduced from US$2 000 to US$1 000 per annum and is still considered too high by small scale miners.


- zbc

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