Zim gold for unnamed SA firm's machines

ZMF president Trynos Nkomo said selling gold to South Africa meant high returns for the miners. "It is a win-win situation where we get machinery and capital while the South African firm gets gold," he said, adding that as ZMF members will get "good prices for their gold" the deal will go a long way to boost local production, since mining is capital intensive. "We are just activating a deal that existed before. The initial contract expired three years ago when [Zimbabwe] went through a bad patch," Nkomo added.

According to Allafrica.com, Nkomo noted the South African firm was a reputable gold refiner in both SA and in India. "The firm has also agreed to advance machinery on credit to the federation," he said. Nkomo, however, would not disclose the name of the South African company or the details of the deal.

Read the full article on http://allafrica.com.