The sole gold buyer and exporter Fidelity Gold refinery achieved the 2022 projected target of 35 tonnes which marks an 18.9 increase from the 29.7 tonnes which were delivered in 2021.
Artisanal miners were the biggest contributors as their deliveries increased from 18.5 tonnes to 24.1 tonnes which marks a 30.3% increase. This increase has been attributed to Fidelity Gold Refinery’s timeous payments to the miners which has boosted confidence from the miners.
The 5% incentive announced by RBZ for deliveries above 20kg has also improved deliveries since it helped curb rampant smuggling of the precious metal. According to FGR General Manager Mr Peter Magaramombe, the massive increase in deliveries has been necessitated by a host of measures taken by FGR and the Reserve Bank of Zimbabwe (RBZ) including timeous payments and incentives.
FGR is confident that gold deliveries to FGR will reach 40 tonnes this year as a result of notable expansion projects by Large producers as well as the growth in ASM projects.
In light of this, Peacocke and Simpson has dedicated its resources to aide in achieving this target. If you need to find out how much gold is in your samples, we are the go to people. We have years in experience when it comes to gold.