Bond Notes rejected

Small scale miners say they are struggling to buy spare parts in Bulawayo because manufacturers and distributors are refusing to accept bond notes.

This was revealed during a Matabeleland North provincial alternative indaba held at Inyathi Training Centre in Bubi distrct.

The few companies accepting bond notes charge higher prices for the same equipment while those who use the hard currency pay less. Deputy president of the Chiefs’ Council, Chief Mtshane said it is unfortunate that the small scale mining sector is facing a number of challenges which have been derailing its growth.

“There are too many barriers and this makes it difficult during the mining operations. This in turn affects the amount of gold that the players can get and it is obvious that the sector is producing less than what it used to,” he said.

The license fees to buy explosives was reduced from US$2 000 to US$1 000 per year and is still considered too high by small scale miners.