Zimbabwe Miners Federation which last week announced a deal with Glow Petroleum to ease fuel problems for the miner, has once again announced a partnership with the country’s sole gold buyer and exporter, Fidelity Printers and Refiners (FPR), to ensure that miners realise the true value of their gold production, at a meeting held yesterday at the Rainbow Towers in Harare.
Rudairo Dickson Mapuranga
Gold producers have been advocating for 90 to 100 per cent foreign currency retention threshold from Fidelity Printers and Refiners since the 55 per cent they are receiving currently is not viable for production.
However, the partnership between ZMF and FPR will benefit gold producers as the two parties will ensure according to both ZMF president Henrietta Rushwaya and FPR General Manager Fradreck Kunaka that the miners realise the true value of their gold production.
According to the Fidelity Printers and Refiners General Manager, the two parties will set up a committee to set up the right price that will be viable for the miners, the committee according to Mr Kunaka will also look at the operation cost of the small scale miners so as to come up with prices that are viable for them.
Mr Kunaka also added saying that the partnership between FPR and ZMF will ensure that miners realise the true value of their production.
“What is important is that the miner feels the value of the commodity which they would have delivered to Fidelity,” he said.
Henrietta Rushwaya added saying that the Federation will continue to engage the government with regard to 55 per cent forex retention, however also taking cognisant of the challenges that the government is experiencing concerning the issues of foreign currency.
“If we properly come up with a sound request, the government will reconsider its position, but it’s not a question of just going to the government to say we want 80, 90 foreign currency retention,” she said.
The Zimbabwe Miners Federation is the brainchild of the Ministry of Mines and Mining Development whose birth was marked to represent and contribute to the development and growth of small scale miners.