Mining Laws: Other countries, other customs
Zimbabwe has great potential in mining, raw materials are available. The deposits are not so deep, and the gold density is high in the country. However, the legislation still needs some modernization so that mine operators like to work in Zimbabwe. The pressure to reform is currently growing. The problem is that gold produced from a mine has to be sold to the local central bank and the proceeds are partly paid out in the local currency.
Currently, with the high price of gold, mine operators can increase their pressure on the government to change this old practice. The current situation is no problem if the local money earned can be paid out to the mine workers as wages and the rest remains with the mine operators in US dollars. An example of a successful gold company in Zimbabwe is Caledonia Mining https://www.youtube.com/watch?v=MtVFyposDm4 .
Caledonia Mining's Blanket gold mine generated gross revenues of just over $25 million in the third quarter of 2020, up 27 percent from the third quarter of last year. The company plans to increase gold production and build a solar power plant.
Another country that still offers many opportunities for gold prospectors is Ecuador. Large resources, a mining-friendly government, low energy costs, and previously untapped potential have attracted gold companies such as Adventus Mining - https://www.youtube.com/watch?v=WPa-Ui6aVns&t=4s.
Gold and copper are the raw materials in the Curipamba, Pijiili and Santiago projects being pursued by Adventus Mining. Salazar Resources is a partner in all projects. Drilling and exploration work is proceeding at full speed on the three projects.
Current company information and press releases from Caledonia Mining (www.resource-capital.ch/en/companies/caledonia-mining-corp/) and Adventus Mining (www.resource-capital.ch/en/companies/adventus-mining-corp/).
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