RBZ owes gold producers $30 million

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The Reserve Bank of Zimbabwe (RBZ) still owes gold producers $30 million, Parliament was told yesterday.

Former Chamber of Mines president Victor Gapare revealed this when he appeared before the Parliamentary Portfolio Committee on Mines and Energy chaired by Guruve South MP Edward Chindori-Chininga.

Gapare was responding to questions by Uzumba MP Simbaneuta Mudarikwa, who wanted to know if the outstanding amount had been paid or if it was taken legally or as a loan by the RBZ.

“Do you have an idea as to when you are going to get the money you are owed by the RBZ and if you put interest on the money, how much is it going to be?” asked Mudarikwa, adding Zimbabweans had a right to know why the industry was struggling.

But Gapare said the Chamber of Mines did not know when the amount would be paid by the central bank.

“The last figure owed to the gold industry was over $30 million and amounts owed to other sectors are higher than $100 million. We have tried as Chamber of Mines to have an audience with authorities at the RBZ but we have not succeeded,” he said.