Politics & General News

Buoyant Small-Scale Miners Boost January 2022 Gold Deliveries

Despite some mining operations causing an environment catastrophe, a buoyant small scale mining sector has pushed Zimbabwe’s gold deliveries to Fidelity Printers and Refiners (FPR) up by over 100 percent to 2 867,9 kilogrammes for last month compared to 997,6kg attained in January 2021.Official figures from FPR, the country’s sole gold buyer, show that during the month under review the bulk of the yellow metal still continued to come from small-scale miners who have traditionally been delivering at least 60 percent of the total deliveries.Out of the 2 867,9kg delivered to FPR, which falls under the purview of the Reserve Bank of Zimbabwe (RBZ), small-scale miners delivered 2 053,7kg, which is a 478 percent improvement from 355,5kg produced in January 2021.During the month under review, large-scale miners produced 814,3kg compared to 642,1kg January last year.Contacted for comment, Zimbabwe Miners Federation (ZMF) president, Ms Henrietta Rushwaya whose organisation is the mother body of the small-scale mining industry in the country said small scale miners have become dominant players.“From the output figures availed by Fidelity for the month of January this year, it’s a clear indication that the small-scale miners are geared towards achieving the US$12 billion milestone,” she said.“We are only playing our part as small-scale miners in the country to assist the Government in achieving its target by working harder.” In October 2019, the Government launched the US$12 billion mining industry roadmap from, which the gold sub-sector, which is one of Zimbabwe’s major foreign currency earners, is expected to contribute US$4 billion from US$2,7 billion.Ms Rushwaya commended FPR for incentivising the small-scale gold mining industry saying a raft of incentives that have been introduced were attracting players in the sector to improve deliveries in the formal system.

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