Gold US$1,717/oz vs US$1,703/oz yesterday – Zambia to begin processing artisanal gold 

Zambia has built 10 milling plants to process gold produced by informal miners, in attempt to diversify from copper mining- according to the state mining investment company ZCCM-IH. 

The project is being undertaken by Consolidated Gold Company and ZCCM-IH, and is part of a continent-wide push to tackle informal mining of gold which deprives African states of revenue. 

Zambia aims to produce 40,000kg of gold in 2020 from primary and secondary sources, and intend to complete a gold leaching plant with a targeted gold production of 17.5kg per month by June (Reuters). 

The ten milling plants will have a combined processing capacity of 30 tonnes of ore per day and a targeted average of 7.5kg gold production per month (Zambia Daily Mail). 

Source: proactiveinvestors.co.uk/companies/news/919584/morning-view—gold-prices-continue-to-rise-on-second-covid-19-wave-fears-919584.html