The Zambia Federation of Cooperatives in Mining (ZFCM) Board Secretary, Fabian Mubuyaeta has expressed support for government’s plan to establish a gold trading agency, stating that the move will help formalise mining activities and uplift the socio-economic well- being of…

The Zambia Federation of Cooperatives in Mining (ZFCM) Board Secretary, Fabian Mubuyaeta has expressed support for government’s plan to establish a gold trading agency, stating that the move will help formalise mining activities and uplift the socio-economic well- being of Small-Scale miners.

The statement follows highlights from the 2027 Budget presentation, where Government plans to set up an agency responsible for the purchase and export of gold to ensure that all gold produced in the country is traced and traded through one central point.

 Mr Mubuyaeta noted that formalising gold mining operations will help address illegal mining activities by bringing miners into organised structures where they can operate legally and benefit from improved market opportunities.

He added that the initiative will also enable miners to obtain better value from the minerals they extract by reducing their dependence on the black market, where middlemen often exploit them by purchasing minerals at lower prices.

Mr Mubuyaeta further noted that the initiative is expected to create employment opportunities, increase awareness of the economic value of mineral resources and encourage more cooperatives to participate in the mining industry.

He explained that the move will promote transparency in mineral transactions and strengthen stakeholder participation, particularly among small-scale miners.

He further reaffirmed the federation’s commitment to working with Ministry of mines and Minerals Development and other stakeholders to support the government’s agenda, saying initiatives of this nature will improve visibility in the mining sector and create more opportunities for local communities.