Fillip for Zimbabwean gold producers

Source: Business Day, Johannesburg

The Zimbabwean government has rewritten the rules for gold producers operating in the country, giving the beleaguered industry a more hopeful outlook.

Until recently, gold producers were paid about 100 dollars per ounce by the Zimbabwean Reserve Bank - less than the cost of mining the gold and far lower than the spot gold price of about 354 dollars per ounce. But from 1 March, after extensive negotiations between the government, gold producers and the Zimbab