- March 26, 2021
- Posted in LOCAL
Despite gold deliveries to Fidelity Printers and Refiners (FPR) taking a knock in 2021 as compared to previous five years, Pedzisai ‘Scott’ Skupwanya through his Better Brands Jewellery company has delivered 980 kgs of gold so far into the year.
The revelations were made at the Zimbabwe Miners Federation (ZMF) gold buyers breakfast meeting were gold buyers met to deliberate a way forward in regards to reducing leakages and improve miners’ gold returns.
Official figures from Fidelity show that gold deliveries continued to decline in 2020 dropping by 31 percent to 19,052 tonnes due to a host of reasons including smuggling and subdued performance by producers in the sector.
The figures show that deliveries declined to 19,052 tonnes last year from 27,66 tonnes a year earlier, In 2018, the country delivered 33,2 tonnes of the yellow metal.
Gold buyers at the meeting deliberated that it was essential for Fidelity to give buyers at least 5 percent RTGS incentive as this was going to capacitate the buyers at the same time reducing competition offered by the black market.
The buyers also agreed that it is to be illegal for buyers to peg prices above FPR official prices.