Fidelity Gold Refinery (FGR) has called on financial institutions to develop affordable financing, equipment leasing and payment solutions for miners as it seeks to increase gold deliveries from a projected 50 tonnes in 2026 to 55 tonnes in 2027, Mining Zimbabwe can report.
By Rudairo Mapuranga
Speaking at the FGR Stakeholder Consultative Meeting in Harare on Friday, General Manager Peter Magaramombe said stronger participation by banks would be critical in addressing the financial and operational constraints limiting miners’ capacity to expand production and deliver gold through formal channels.
Magaramombe urged financial institutions, including NMB Bank, ZB Bank and CABS, to move beyond conventional banking products and develop financing arrangements tailored to the needs of the mining sector.
“Our financial partners have an equally important role to play. We encourage them to propose practical ways of expanding access to affordable financing and equipment for miners,” he said.
Access to capital remains essential for miners seeking to acquire modern equipment, expand processing capacity, undertake exploration and increase production. FGR believes closer collaboration with financial institutions could help address some of these constraints while strengthening formal gold deliveries.
The 55-tonne target for 2027 represents a 10% increase on the projected 50-tonne outturn for 2026, with FGR seeking to build on existing gold mobilisation efforts through improved buying infrastructure, competitive payment arrangements and stronger responsible sourcing systems.
Magaramombe said achieving these targets would require coordinated interventions across several areas, including financing, reliable electricity, modern mining equipment, exploration and mine expansion.
He said the stakeholder consultation was intended to produce practical commitments rather than simply document discussions.
“We want to leave with a clear understanding of what needs to be done, who needs to do it and how we will work together to achieve the desired outcomes,” he said.
Beyond access to finance, FGR also invited stakeholders to assess the effectiveness of existing gold purchasing arrangements, particularly pricing transparency, payment efficiency and incentives for miners delivering through formal channels.
Magaramombe specifically invited stakeholders to share their views on the current 100% foreign currency retention model, indicating that the arrangement was open to review as FGR works to improve the competitiveness of the formal gold market.
“We invite your views on the current model of 100 percent foreign currency retention,” he said.
The discussions come as FGR develops its 2027 Strategic Plan, with financial institutions and other industry stakeholders being encouraged to contribute proposals that could improve miners’ access to capital, equipment and efficient payment systems.
The outcome of these consultations could help shape how financing and gold purchasing arrangements support the next phase of Zimbabwe’s gold production growth.
