Gold deliveries to rise by 30 tonnes

27 Feb, 2018 - 15:02 0 Views
Gold deliveries to rise by 30 tonnes

eBusiness Weekly

Africa Moyo
HARARE – Chamber of Mines of Zimbabwe president Batirai Manhando says gold deliveries are expected to hit 30 tonnes this year spurred by a number of factors including facilities from the Reserve Bank of Zimbabwe (RBZ).

Speaking at the Zimbabwe Mining Investment Conference 2018 which opened today in Harare, Mr Manhando said overall mineral output would rise across all the key resources such as platinum, chrome and gold.

The two-day conference is running under the theme ‘Zimbabwe is open for business.’  He said gold is expected to rise to 30 tonnes this year, from 24, 8 tonnes achieved last year.  Gold has become the biggest foreign currency earner in the country, followed by tobacco.

This has seen the RBZ coming up with the gold support facility to $150 million from $74 million last year.  The gold facility is obtained through the RBZ’s gold buying unit, Fidelity Printers and Refiners (FPR).

This year, miners have started gold mining on a high note, with 2, 6 tonnes delivered in January compared to 1, 6 tonnes of in the same period last year. 

Small scale miners have become central to increased gold deliveries, contributing 53 percent of the 24, 8 tonnes delivered last year.

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