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Gold Deliveries Increase By 137 Per Cent

Gold Deliveries Increase By 137 Per Cent

Gold deliveries to Fidelity Printers and Refiners (FPR) rose by 137 per cent in January and February 2022 compared to the same period last year, reported The Sunday Mail.

FPR, which is the country’s only authorised gold buyer, received 5.1 tonnes in the first two months of 2022 while gold deliveries were 2.17 tonnes in the same period last year.

The massive jump in gold deliveries, according to The Sunday Mail, is largely attributable to Government incentives that have helped prevent smuggling.

In previous years, January and February were characterised by low gold deliveries as most mining operations are affected by the rains.

In January and February this year, small-scale miners delivered more gold at 3.4 tonnes compared to 1.8 tonnes by primary producers.

Last year, large producers delivered 11.2 tonnes to FPR while small-scale producers delivered 18.5 tonnes.

Chamber of Mines of Zimbabwe (CoMZ) vice president Thomas Gono believes the 40 tonnes targeted by FPR this year is attainable. Gono said:

The 40-tonne target is very achievable if the current policies are maintained and not tampered with because they have increased the incentive to produce.

CoMZ has been engaging Government to refine the policies even further.

We have written to the Government that the retention ratio should be increased to 80-85 per cent in order to see the mines expand and be sustainable.

Gold is one of Zimbabwe’s largest single foreign currency earners, with the mineral generating US$1.61 billion in exports in 2021.

This constituted 26.7 per cent of total exports.

More: The Sunday Mail


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14 Comments

MUTADZA 1 month ago

ko gold yaHenrieta Rushwaya yakazofamba seyi


CHAWABVUNZA 1 month ago

@UTULU YES, NYIKA HAIVAKWE NEZUVA RIMWE CHETE.. ASIKA ZANU PF YAKO IYI YATITONGA FOR THE PAST 42 YEARS, BUT THEY HAVE FAILED TO BUILD EVEN ONE PILLAR. SHAME ON YOU. ZANU PF HAS JUST FAILED.


JARAVAZA 1 month ago

hardliner handiti iwe wakazvarwa mai vako varohwa **** muchinjihouse nashef wezanu. Baba vako hauvazive. Tibvunze kikuudze dzinza rako. Uturu hwakatambiswa. Dai akaitira pasi zvakadyiwa nenhunzi. Go t o h ell mpfana. Ndichaku ma misa chete.


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charu 1 month ago

hakunaa department rinomanager mashandisirwo emari here. intelligence mukati me intelligence ndidzo dzinogona kumboreducer corruption. three faced intelligence


xyz 1 month ago

dai vatoregedza havo kutiudza coz hazvina zvazvinotibatsira as a country,imari yavo ikoko kuzanu pf


Machiavelli 1 month ago

@Ululu, yes it takes time.
you have had 42years of destruction. And nothing to show for it.

Time up. Time to go.

Ululu 1 month ago

Vanhu ve CCC makazadzwa propaganda dza Chamisa. Nyika haivakwe overnight. It takes time.

Machiavelli 1 month ago

Hahahahaha!!!!! Social safety nets my foot! @Hardliner, are you from Outer Mongolia or something? Name 2 beneficiaries (excepting ZANU and yourself)?

Infrastructural projects??? Mbudzi Interchange is benefiting Tagwireyi more than anybody else. Muri kufira mafufu segonzo.

Tibvire kumhepo

ZANU pf hardliner guardian of faith 1 month ago

who told you that nonsense.Gvt is investing heavily in social safety nets,infrastructural projects and poverty alleviation.

JARAVAZA 1 month ago

So where is all gold going? Who is benefiting from this gold? This government of cartels is corrupt. Tinosvikepi nechihurumende chembavha nemhondi ichi. Dai Mwari vapindira zvafa zvese zvivanhu izvi. Kushayawo kana n'anga inoshinga ikarovesa nemheni zvipere. Mbavha, mbondi, varoyi, ma****, nemahwindi zvinowanikwa kuzanu chete


Mafirakureva 1 month ago

@ZANU hardliners, your diatribe and verbal Diarrhoea do not add to knowledge, but in effect detracts from knowledgeable discourse.

Apart from crudity, you haven't said anything at all

Ululu 1 month ago

Gold riku expotewa baba imi. Kasi you don't know what trade is?

ZANU PF hardliner guardian of faith 1 month ago

your evil heart is about to self destruct.rapwa chepfu yakazara mauri upore iwe mwana wedhemenji usashungurire ZANU pf netsa maivako vakarohwa yakanaka namudhibhisi pasi pemumango vakabatiswa pasi kuti vazvare iwewe ZANU pf yakutadzirei nhaiwe mwana wenyoka

Jah🇿🇼Tsvarie-07 1 month ago

Rtgs$ is scarce, companies are slowly failing to pay salaries...



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