Fidelity Gold Refinery (FGR) says it will be accredited by an international body before the end of this year, a development that could allow the company to trade its gold on global markets and realise more from its bullion sales, Mining Zimbabwe can report.
By Ryan Chigoche
This was revealed by its General Manager, Peter Magaramombe, as he responded to questions at the Zimbabwe Mining Forum (hosted by Caledonia), held on the sidelines of the just-concluded Invest in Africa Mining Indaba.
FGR was previously accredited by the London Bullion Market Association (LBMA), a status that enabled Zimbabwe to sell gold directly on major international markets.
However, the refinery lost its accreditation in 2008 after the country’s gold production fell sharply to around 3 tonnes, well below the LBMA’s minimum requirement of 10 tonnes per year, leading to Zimbabwe’s delisting from the Association.
Speaking on the sidelines of the Forum, FGR General Manager Peter Magaramombe confirmed that the refinery is on track to achieve international accreditation by the end of the year, having already met nearly all the requirements.
“Let me say that we are at an advanced stage to get accredited before the end of this year with some accreditation body, which I’m not going to name at the moment, but in terms of the requirements for the accreditation, we are almost 95% in terms of meeting those requirements. So we are saying by December 2026, we should be accredited.”
Last year, Zimbabwe produced a record 46.7 tonnes of gold in 2025, far above the LBMA minimum requirement of 10 tonnes, demonstrating both the scale of the country’s output and the opportunity to earn more by selling directly on international markets.
With gold prices at record highs and the authorities keen to maximise foreign currency inflows, the prospect of accreditation comes at a critical moment.
Once accredited, FGR’s refined gold will be able to enter international markets more easily, attracting larger pools of investment and potentially securing better prices for the country’s bullion.
Recognition of the refinery’s gold for quality, purity, and ethical sourcing is also expected to boost investor confidence and improve liquidity, strengthening foreign currency inflows and supporting broader economic growth.
By aligning with international standards, FGR is not only positioning itself as a credible player in the global gold market but also creating opportunities for Zimbabwe’s gold producers to access reliable and lucrative international markets.
