Zimbabwe Gold Smugglers Shipping Over $1.5 Billion a Year
- Gold from African nation often sent illegally to Dubai: ICG
- Artisanal mines plagued by gangs with political links: ICG
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More than $1.5 billion of gold is smuggled out of Zimbabwe every year, depriving the cash-strapped economy of crucial foreign-exchange revenues, according to research organization International Crisis Group.
The gold is illegally shipped from the southern African nation’s small-scale mines, often to the bullion-trading hub of Dubai, ICG said in a report Tuesday. Some of those artisanal mines are plagued by violent gangs that have political connections, it said.