ZAMBIA LAUNCHES FIRST GOLD REFINERY IN MAJOR PUSH TO KEEP MINERAL WEALTH IN THE COUNTRY.
Zambia has taken a major step towards adding value to its mineral resources locally following the unveiling of a gold refinery by Minera Refineries Zambia Limited.
The company unveiled the facility this week during the Mining and Investment Insaka held at the Mulungushi International Conference Centre.
The refinery is designed to process gold to 99% purity, with the company claiming that its technology can achieve purity levels of up to 99.99%, supported by modern equipment and an in-house laboratory.
For years, Zambia has exported raw or partially processed gold for refining abroad.
The establishment of the facility is expected to help retain more value within the country, create opportunities for local miners and strengthen the domestic gold industry
Government officials view the development as an important step towards increasing mineral revenue, formalising artisanal and small-scale gold mining, and diversifying the economy away from its heavy dependence on copper.
Zambia currently produces approximately 3.5 tonnes of gold annually, while copper accounts for around 70% of the country’s exports.
The government is pursuing ambitious economic growth targets, with the formalisation of small-scale gold mining expected to unlock more than US$1.8 billion in economic value.
Company representatives have maintained that the refinery’s technology meets international market standards.
They further claimed that gold sourced from the Mpika area and refined approximately two months ago achieved exceptionally high purity levels, attracting interest from potential buyers.
The launch forms part of broader efforts to improve mineral traceability, strengthen regulation of small-scale mining and ensure that a greater share of the country’s mineral wealth benefits Zambians.
The key question now is whether the refinery will translate its technical capacity into increased local investment, jobs, government revenue and better returns for small-scale miners.
-Zambian Watch.