Small scale miners deliver more than 18000 kg of gold to FGR in 2021
By The Mining Vision Staff Writer
Small scale gold producers have delivered a total of 18 470.61kg of the yellow metal to Fidelity Gold Refinery Private Limited (FGR) while large gold producers delivered 11 159.0 kg in 2021, data from the central bank has indicated.
Small scale gold mining is an important pillar to the country’s aspiration of attaining a 12 billion mining economy by 2023.
In a press statement, RBZ governor Dr John Mangudya said: “The Reserve Bank of Zimbabwe wishes to express its appreciation and gratitude to the country’s small and large gold producers for having delivered a total of 29 629.61kg of gold to Fidelity Gold Refinery Private Limited (FGR) in 2021, a 55.5% increase from the 19 052.65kg delivered in 2020.”
“The bank also commends government for the Gold Incentive Scheme introduced in May 2021, which has had a significant positive impact on gold deliveries to FGR,” RBZ governor said.
The government of Zimbabwe introduced a Gold Incentive Scheme to curb high level smuggling of the yellow metal and to promote gold deliveries in the country’s formal market.
“It is projected that the quantum of the country’s gold exports in 2021 will increase beyond the 29 629.61 kg when the gold component in the Platinum Group of Metals is eventually included in the tally of gold deliveries to FGR,” read part of the press statement.