Bulawayo has recorded an upsurge of gold producers supplying Fidelity Printers and Refiners who have remitted 240 kilogrammes of gold this month.
The development comes at a time when the Reserve Bank of Zimbabwe through the Gold Development Initiative Fund has released close to US$150 million loan facility to artisanal and small scale miners for the acquisition for the procurement of gold mining equipment in order to enhance gold production.
Speaking at a meeting with artisanal and small scale miners at a local hotel in Bulawayo, General Manager of Fidelity Printers and Refiners Fredrick Kunaka said that they had received over 240 kilogrammes of the yellow metal, a positive note in the national goal of producing 100 tonnes of gold per annum by 2023.
Kunaka highlighted that there were set to receive 30 tonnes of gold this year which is a positive development when compared to last year where the country produced 24.8 tonnes of gold.
“We must take a leading role by starting to utilise Gold Development Initiative Fund and contribute towards fulfilling President Emmerson Mnangagwa’s vision of being a middle income economy by 2030. Small scale mining has been growing in leaps and bounds and we must make sure that we try to reach our target of producing 100 tonnes of gold,” said Mr Kunaka.
With the country on course to achieve its gold production output, small and medium gold producers in Matabeleland North have received US$28 742 049 while Matabeleland South received US$10 990 327 fulfilling the government’s thrust at growing the industry and enhancing production in the mining sector.
During the conference, small and medium scale miners appealed to Fidelity Printers and Refineries to consider paying them in hard currency (cash) as opposed to transferring their money to bank accounts.
Fidelity Printers and Refineries is currently paying small and medium scale miners 70 percent hard currency and then transfer 30 percent to their bank accounts.
The firm is also holding gold mining regional conferences where small and medium gold producers meet to exchange ideas on ways of enhancing the country’s yellow metal to boost productivity.