Govt warns gold quality cheaters

The government has said it will revoke licences of unscrupulous gold dealers at Geita Gold Market manipulate the value of the metal through illegal practices.

The Minister of Minerals, Dr Doto Biteko, said the government would take measures against the dealers who are mixing gold with either zinc or silver or both to increase carat gold.

“We have agreed that we will not hesitate to revoke the license of whoever engaged in such practice,” he said when he visited the gold market on Tuesday to get first-hand information about the malpractice.

The minister said they want the dealers to not only pay correct taxes but also to uphold the quality of gold without jeopardising its purity.

He also warned government officers who are partnering with unfaithful dealers on lowering the purity of gold.

“We have the list of those officers and measures will be taken against them,” Dr Biteko said without naming them or hinting at the date for taking stern actions.

The minister said it was surprising that dealers were cheating in the business while the government had gone the extra mile to solve some challenges they are facing—including markets and royalties.

The minister said the government will continue to protect faithful mineral dealers to work in a peaceful environment.

The Mining Commission Chairman of Prof Idris Kikula said mineral dealers should adhere to the ethics governing their business a move which may propel the mining Industry growth.

 

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