Business and Technology

Bank of Zambia buys over 478KG of Gold

The Bank of Zambia (BOZ) has purchased 478.76 kilograms of gold at a cost of 604.3 million Kwacha since December 2020.

In a statement, the Bank of Zambia, Communications Division says this is broken down in 391.92 Kilograms purchased from Kansanshi Copper Mining Plc at a cost of 500.5 Million Kwacha and 86.84 Kilograms purchased from Zambia Gold Company, a subsidiary of ZCCM-IH at a cost of 103.8 million Kwacha.

The Central Bank says it plans to purchase 746.5 kilograms of London Good Delivery gold from Kansanshi Copper Mining Plc and about 120 kilograms Dore gold with a minimum of 88 per cent purity from Zambia Gold Company per year.

The Bank adds that the Dore gold purchased from Zambia Gold Company will only reflect in international reserves after refining.

Source – ZANIS

In Other News – Lusaka landlord in court after burning tenant with hot porridge over K90 rentals arrears

A Lusaka landlord has appeared in the Magistrates’ Court and pleaded not guilty of burning her tenant with hot porridge. Rebecca Mwansa, 65, a teacher of John Laing compound, is charged with assault occasioning actual bodily harm.

Allegations are that Mwansa on June 29, 2021, assaulted her tenant Bwalya Malekani and occasioned him actual bodily harm but denied the charge. When the matter came up before Lusaka magistrate Nthandose Chabala, Malekani’s wife Reverence Muchimba, 26, testified that Mwansa, the landlord, left the township and went to visit relatives in the village… Read More

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