Gold mobilisation efforts see over 20% increase in deliveries
The country’s gold industry has seen a 20.5 per cent increase in gold deliveries to the country’s sole gold buyer and exporter Fidelity Gold Refinery (FGR) from the government’s gold mobilisation exercise.
Rudairo Mapuranga
Gold mobilisation remains a key strategy for the mining industry to achieve a US$4 BILLION gold target by 2023 with the Minister of Mines and Mining Development Hon Winston Chitando optimistic that the gold sector can reach a target of 60 tonnes production in 2022.
According to the Mines and Mining Development acting Permanent Secretary, Engineer Tahwa the gold mobilization strategy will ensure compliance in the gold mining industry as the sector is tainted by uncultured smuggling.
He said the first gold mobilization exercise for 2022 saw gold deliveries to FGR increasing by over 20 per cent.
“It is through efforts like this gold mobilisation that we can ensure compliance in the gold mining sector, ensure growth and reach national targets. Following the first 2022 gold mobilization exercise which was done, there was a 20.5 per cent gold increase to FGR for the month of May 2022. Stakeholders however still believe and we believe that this delivery falls short of gold produced in Zimbabwe due to side marketing,” Engineer Tahwa said.
According to FGR official results, gold deliveries in May increased by 79.5403 per cent to 2994.7512 Kgs from 1668.0102 kgs and 20.6874 per cent increase from 2481.4112 kgs in April 2022.
Speaking at the event, the Minister of Mines and Mining Development said the Gold Mobilization National Taskforce was a key strategy to ensure gold was delivered to Fidelity.
He also encouraged the taskforce team to come up with strategies to ensure that the mining industry achieves the Ministry’s 2022 gold target of 60 tonnes of gold deliveries.
He said although the industry did well last year by achieving a milestone of 32 tonnes of gold deliveries, a lot needed to be done to ensure that the country achieves its target.
“We are coming from a situation where we have a 2030 vision of Zimbabwe being a middle-income economy. We have at the same time, the mining industry targeting to achieve US$12 billion and we are definite that we will achieve it by the end of next year. Specifically, today we are talking about gold and specifically gold mobilization. In his words and remarks, the Permanent Secretary said gold mobilization is a key strategy to ensure that gold is delivered to Fidelity Gold Refiners (FGR).
“Taking a step back, last year we did well, 32 tonnes was good but it does not represent the full potential which the industry can deliver. What is important to us as key stakeholders is to come up with strategies on how we can improve from 32 tonnes to 60 tonnes.
“What is important after this gold mobilization exercise, is for teams to come up with strategies on how we can come up with strategies to achieve 60 tonnes this year,” Minister Chitando said.