By JOHN CHOLA
The Zambia Gold Company (ZGC), a subsidiary of ZCCM Investments Holdings (ZCCM-IH) is setting the stage to offer miners and traders the best price for their gold.
In a recent interview with Solwezi Today during the 96th Agriculture and Commercial Show, ZCCM-IH Public Relations Manager Loisa Mbata said ZGC now offers K1500 per gramme, a far more competitive rate than the black market price of K800 per gramme, depending on purity.
Additionally, ZGC offers training for miners and traders and is opening centres to enable them to ply the industry legally and profitably.
Equipped with state-of-the-art testing equipment and a commitment to fairness, ZGC is rapidly becoming the go-to gold aggregator in the nation given that for many years, Zambians have sold their gold in secretive, informal markets, often receiving far less than the metal’s true value.
This substantial price represents a significant step towards ensuring that Zambian miners and traders receive a fair deal.“The first step is that the ZGC provides the market for anyone who has gold as long as it’s legitimate,” Mbata explains.
“Even when you don’t know the quality or amount of gold when you come with it, we have a state-of-the-art testing machine that will test it. We will tell you the purity and then come up with the price. We are giving you the right price for your possession.”
WARY
Despite these attractive offers, many Zambians remain wary of approaching formal markets. A deeply ingrained fear exists that selling gold openly might lead to legal trouble or worse.
Mbata is quick to dispel these myths, reassuring that ZGC is a safe space where traders and miners can bring their gold without fear of harassment or interrogation.
“There’s a wrong perception in the country that people will be caught if they take their gold to Zambia Gold for sale. But we’re not trying to entrap anyone. When we ask them to reveal where the gold is coming from, it’s part of our research. We want to capture the gold that is produced by artisanal miners so we can start talking real numbers—so we can say, ‘from artisanal or small-scale sectors, we are getting this many kilogrammes or tonnes over the years.’”
To further support the miners, ZGC helps them acquire a precious metals trading licence, which costs about K600. With this document and an ID, traders can freely move and sell gold, legally and without fear.
As Mbata puts it, “People don’t need to trade in gold with secrecy, in hiding. But instead, move freely with their gold. And even if they are stopped, as long as they have the trading permit from the Ministry of Mines and Minerals Development, they can move with gold and sell to whoever they want.”
TRUST
ZGC’s efforts extend beyond just offering a better price; the company is actively working to build trust within the community. Many miners have been reluctant to conduct business openly, often falling prey to unscrupulous buyers or even being robbed.
ZGC offers a safe, regulated environment where miners can bring their gold without fear of exploitation. As part of its expansion efforts, ZGC is setting up physical trading centres in strategic locations, including Lufunsa and Mumbwa, to ensure that miners across the country have easy access to legitimate markets.
These centres will provide not only security but also the confidence that comes with dealing directly with a trusted, government-endorsed entity.
Furthermore, ZGC is working in collaboration with the Ministry of Mines and Minerals Development to distribute gold mining licences, encouraging the formation of cooperatives.
This initiative is part of a broader government agenda aimed at empowering local communities and ensuring that the wealth generated from Zambia’s gold deposits benefits its citizens.
PROJECT
With a nationwide high-resolution geographical aerial mapping project underway, the Zambian government is poised to identify new gold-rich areas and attract further investment into the sector.
Already, ZGC is aware of sporadic gold mining hotspots, such as the one in Kasempa, North-Western Province, and is eager to formalise these operations, bringing them into the legitimate economy.
