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Small scale gold producers outshine primary producers

Small scale gold producers outshine primary producers

Sheila Mabasa (Cde Yondo)

Small scale and artisanal miners continue to outshine large scale producers in gold deliveries to the country’s sole gold buyer and exporter, Fidelity Printers, and Refiners (FPR) contributing over 52% of the total deliveries during the first seven months of 2021.

Anerudo Mapuranga

According to the 2021 MID-TERM MONETARY POLICY STATEMENT released recently by the Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Panonetsa Mangudya, “Small scale gold producers contributed 52.8% of the total gold deliveries to FPR during the first seven months of 2021 which compares favourably with the 55.8% delivered for the same period in 2020.”

The micro miners have delivered over 6 tonnes (6,854.69 kgs) during the first seven months of 2021 compared to (6,708.22 kg) delivered during the same period last year while large scale miners produced 6,094.59 kg this year compared to 5,309.63 kg last year.

Total gold deliveries during the first seven months of 2021 was at 12,779.29 kg compared to 12,017.85 kg delivered last year.

Gold exports in 2021 are forecasted to be higher than in 2020 on account of the recently introduced 2.5 – 5 per cent gold delivery incentive and the COVID 19 induced restriction that could have curtailed gold leakages through smuggling.

See Also

There was a remarkable surge in gold deliveries to Fidelity Printers and Refiners (FPR) in the months of June and July 2021.

In June 2021 gold deliveries to FPR were 2 924.3 kg compared to 1 409.6 kg delivered in June 2020.

 Similarly, gold deliveries for July 2021 stood at 2 824.6 kg compared to July 2020 deliveries of 1 406.4 kg.

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