BANK OF ZAMBIA BUYS 478KG GOLD

(ZANIS) The Bank of Zambia 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 percent 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.

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