Zimbabwe Launches Gold Mobilisation Taskforce

Istanbul authorities conducted a significant operation against illegal gold production, resulting in the arrest of eight suspects and the seizure of goods valued at approximately 12 million TL. This initiative, part of ongoing efforts to combat organized crime, focused on workshops producing gold of reduced quality. In Zimbabwe, a national taskforce has been deployed to enhance gold delivery compliance amid rising global demand, with current prices soaring from $1,900 to $2,500 per ounce. Mines Minister Winston Chitando highlighted the country's aim to maximize gold revenue, projecting output to reach 39 tons in 2024. However, Zimbabwe faces challenges from illegal mining practices, which contribute to an estimated annual loss of $1.5 billion in gold due to smuggling. Authorities emphasize the need for all gold to be traded through official channels to secure economic benefits.