The Reserve Bank of Zimbabwe has to date disbursed US$104 million out of the US$150 million Gold Development Fund initiative and has called on miners with viable mining projects to tap into the remaining US$46 million.
The gold development fund manager Fidelity Printers and Refineries Private Limited has urged gold miners to take full advantage of the support facility.
Interview on the sidelines of the 5th Regional Gold Conference held in Mutare to raise awareness on the Gold Development Fund initiative, Fidelity Printers and Refineries Mining Investments Advisor William Gambiza said whilst they are happy with the uptake of funds to boost productivity in the gold mining sector, more miners can still benefit from the US$46 million still to be disbursed.
He said gold deliveries increase with more productivity, hence the awareness campaigns to ensure miners with sustainable projects get funding.
“The 5th Regional Gold Conference seeks to enhance awareness and uptake of the Gold Development Fund. The fund size is US$150 million with US$104 million having been disbursed so far,” he said.
Gambiza said despite challenges facing the mining sector, the official gold production target set by government of 30 tonnes this year has been surpassed with artisanal and small scale miners accounting for 70 percent of the deliveries.