Zero Pindula

WhatsApp Message

*Fidelity Printers and Refiners: Gold Deliveries Increased By 21% In May*
https://www.pindula.co.zw/2023/06/09/fidelity-printers-and-refiners-gold-deliveries-increased-by-21-in-may/?article

Fidelity Printers and Refiners has reported a 21% increase in gold deliveries, with 2.9 tonnes delivered in May 2023, compared to April.

Fidelity Printers and Refiners General Manager, Mr Peter Magaramombe said the rise in gold output has been attributed to improved conditions in mines following the rainy season. Magaramombe said:

_Deliveries rose 21 percent to 2,9 tonnes compared to April and we expect this trend to continue. As you may recall that the small-scale miners are the largest providers of gold as shown by previous statistics, their operations are mainly affected by the rains. It is a boom for them when the rains subside as they recover that is why you see the recovery._

According to ZBC News, the government’s prompt payments for deliveries have also contributed to the recovery of output.

----------
*Latest itel A70* - now available on Pindula
128GB storage, 8GB RAM
*$89 Cash on Delivery.*

_We deliver in Harare and Bulawayo everyday between 9am and 4pm_

also available on Zero Deposit to Civil Servants and Pensioners.

WhatsApp: 0️⃣7️⃣7️⃣2️⃣ 4️⃣6️⃣4️⃣ 0️⃣0️⃣0️⃣
----------

Zimbabwe Miners Federation President, Ms. Henrietta Rushwaya, is optimistic about increased output and delivery of gold to the Fidelity Gold Refinery. She said hundreds of thousands of small-scale miners are now the biggest contributors to national gold output, with their involvement in mining driving rural industrialization.

Gold is a key revenue generator and contributor to the country’s economic growth. However, there have been concerns about gold leakages in Zimbabwe, with smuggling and illegal trading depriving the government of much-needed revenue. Early this year, Al Jazeera published the Gold Mafia, an investigation into illicit gold trade and money laundering alleging powerful individuals were involved.

Tendai Biti, a former Finance Minister, claims that Zimbabwe is losing approximately US$1 billion annually due to gold leakages.

Zimbabwe’s abundant mineral deposits have not translated into economic development due to corruption and mismanagement by political elites, analysts say. The lack of transparency in resource management has enabled powerful individuals to exploit resources for personal gain, rather than the good of the country.

*More Pindula News*

*Featured Products*

*Follow our Pindula Channel on:* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v

Give us Feedback