ZIMBABWE’S gold deliveries increased to 2,887,5 kilogrammes in the month of April from 2,735 kilogrammes in March this year.
Statistics from the country’s sole gold buyer, Fidelity Printers and Refiners show that small-scale miners during the period under review maintained the top spot delivering 1,904,6kg compared to 983 kg delivered by the primary producers.
In the first three months of the year, gold deliveries surged 57,6 percent to 7,3 tonnes compared to 4,63 tonnes during the same period last year.
Last month, the average price of the yellow metal delivered to Fidelity Printers was $1,334,74 per ounce down from $1,324,66/oz.
Reserve Bank of Zimbabwe Dr John Mangudya is on record saying tobacco and gold exports contribute significantly to the country’s export receipts.
If sustainably and adequately funded the sub-sectors have potential to generate more foreign currency for the country.
Against this background, export receipts from the gold sector for the period May to December 2017 were $1.3 million.
As part of efforts to finance gold production by small-scale miners, RBZ has hinted on plans to introduce the Diaspora gold production financing bond to Zimbabweans abroad.
Under the financing facility coupon payments will be made on monthly basis as the yellow metal is sold to Fidelity Printers and Refiners.
Source : Chronicle