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Fidelity Gold Refinery opens a gold-buying office in Makaha

Fidelity Gold Refinery opens a gold-buying office in Makaha

Peter Magamombe

Fidelity Gold Refinery (FGR) has opened a gold-buying office in Makaha, Mutoko.

Makaha is an area known for small-scale mining activity and for years it had no Fidelity Agent near the area or nearby Mutoko centre. Miners were expected to travel to Marondera the capital of Mashonaland East province 148km away to sell their gold. Logically it was highly unlikely a miner would go that far to sell only a gram of gold as most if all the proceeds from their gold will be used up just by transport costs.

In a statement, the country’s sole buyer delivered the pleasant news, promising those who deliver instant cash.

“For your convenience Mutoko (Makaha) miners, we have opened a buying office at the Makaha shopping centre (Shije Building). Deliver your gold and get instant cash,” the statement read.

Fidelity has vastly improved on cash payments since the takeover of the current General Manager Mr Peter Magaramombe.

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Zimbabwe National Statistics Agency (ZimStat)

The coming in of Magaramombe has seen improved deliveries of gold to the country’s sole buyer and exporter. Gold deliveries to Fidelity Gold Refinery in the eight months to August 2022 grew by nearly 41 per cent to 22,3 tonnes from 13,2 tonnes in the same period a year ago.

The establishment of new gold buying centres across the country will boost deliveries and continued instant payments from Fidelity will surely aid in the attainment of the us$12 billion mining industry by 2023.

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