Gold miners, Fidelity Printers and Refiners impasse settled
ARTISANAL and small-scale gold miners have said they will continue to work hand in glove with Fidelity Printers and Refiners (FPR) even though there had been delays in the issuance of remittances from the country’s sole gold buyer.
FPR was said to have failed to pay miners on time in the last two weeks, a situation that almost threatened gold deliveries. FPR pegs payments on the London Bullion Market (LMBA) scale, which has seen local miners getting paid in United States dollars only.
On Thursday last week, it took the intervention of the Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya to put the matter to rest. Dr Mangudya had a meeting with the Zimbabwe Miners Federation (ZMF) where he clarified that the payment impasse will be resolved in a week.
ZMF chief executive officer Mr Wellington Takavarasha said small-scale miners appreciate the RBZ boss’ mediation.
“ZMF and the Reserve Bank of Zimbabwe Governor Dr John Mangudya had a meeting with regards to delays in payment for bullion and nuggets remitted to Fidelity Printers and Refiners. He has sincerely apologised and committed that all outstanding arrears FPR Bullion Payments will be done starting next week,” said Mr Takavarasha.
He said miners must commit to deliver to FPR and whenever they are aggrieved, they have to engage all stakeholders concerned amicably. Artisanal and small-scale gold miners have delivered more gold to FPR. In July, they delivered 700 kilogrammes, while large-scale miners brought in 650 kilogrammes. FPR general manager Mr. Fradreck Kunaka is on record saying they were committed to give miners the right charge for their gold.
“At Fidelity Printers and Refiners we always aim at offering the miners’ value for their gold.”
A gold miner at Umzingwane district Mr. Elliot Moyo said while they appreciate the challenges faced by FPR, communication between the miners and the buyer were key.
“We work to deliver our gold in the formal market but when we fail to get our money on time it boggles the mind. As miners we will commit to build the country’s gold reserves and that calls for mutual engagement of all concerned parties all the time,” he said_Sunday News