- May 30, 2020
- Posted in LOCAL
Gold submissions to Fidelity Printers and Refiners could further dwindle as the sole buyer has been out of cash at its various centres across the country for days.
The country’s sole gold buyer is currently going through turbulent times as it is failing to import cash because of imposed global travel restrictions due to the Coronavirus Covid-19 pandemic.
Currently, Fidelity is reportedly placing gold miners who submit their precious mineral on waiting lists until cash is available for collection a development that will likely result in more miners particularly the ASM, shunning the country’s sole gold buyer for illegal markets.
A gold miner reported on mining Zimbabwe’s Facebook page that she has been waiting for payment for a week and still yet to be paid.
“There is no cash, I have been waiting a week now,” she said.
This is a catalyst for a looming disaster as it’s most probable miners will turn elsewhere for gold payments or completely halt operations.
A Bindura based miner said mining is his livelihood stopping was not an option so he will do all it takes to survive.
“Life has to go on we can’t keep waiting for Fidelity to put its house in order”, said the miner. “It is not their fault but we also have to survive, buy equipment and pay workers. Currently, Fidelity doesn’t have money so we do what we have to”, the miner concluded.
The miner had been to Fidelity and was informed there was no cash.
Meanwhile, sources reported that the sole buyer has dispatched the Gold Mobilisation Task Force to inspect gold miners submissions as miners are reluctant to submit due to lack of cash.
The national task force is a collaborative effort that involves the country’s security apparatus and the Ministry of Mines and its primary mandate is to make sure that all gold produced in the country is delivered to FPR.