FORMAL gold deliveries to Fidelity Printers and Refiners have recorded a cumulative 33,31 tons between January to November 2022, as the country’s mining sector continues to boost its output to contribute more to the economy.
This is a significant increase from 25,36 tons that were produced during the same period last year, according to official data.
The jump in output so far this year, reflects 31,3 percent growth when compared to 2021.
Small to medium-scale miners continue to lead the pack in production volumes after delivering a cumulative 22,95 tons in the past 11 months up from 15,21 tons last year.
Large-scale primary gold-producing firms, on one hand, have delivered 10,36 tons compared to 10,15 tons during the same period last year.
The strong performance by the gold sub-sector buttresses President Mnangagwa’s drive to steer increased domestic production, especially in the mining sector.
This is in line with the US$12 billion mining industry strategic roadmap by 2023, which was launched in 2019 as part of the Second Republic’s efforts to boost increased minerals’ contribution to the economy.
Commenting on the latest report, Zimbabwe Miners Federation (ZMF) chief executive officer, Mr Wellington Takavarasha, said increased gold output was indicative of more collaboration and hard work by different stakeholders in the sector.
“Gold deliveries to Fidelity Printers and Refiners have greatly improved because of increased collaboration between stakeholders,” he said.
“These include the Chamber of Mines representing conglomerates and ZMF representing small-scale miners.
“There have been constant meetings and review of Government policies and also agreed implementation of policies.”
Mr Takavarasha said while there has been more of a vindictive approach in the past, Government involvement has seen players in the sector holding positive engagements with authorities.
“Government has now realised the full potential and significance of small-scale miners and the role they play in the mainstream economy. So, instead of arresting them, they are now doing more education and awareness campaigns,” he said.
“This has greatly improved the relationship between miners and state agencies.”
Mr Takavarasha said the Government has also come up with incentives to enhance mining activities by small-scale miners so that they mine sustainably.
“Last year there was US$10 million, which was set aside for small-scale miners and that money is now on the cards and cash availability at Fidelity has greatly improved,” he said.
The mining sector is critical in generating foreign currency, which contributes about 70 percent of the forex earnings largely driven by gold, platinum and diamonds.
The gold sector is expected to generate US$4 billion, platinum US$3 billion and chrome, iron, steel, diamond and coal contribute US$1 billion towards the US$12 billion.
Lithium is expected to contribute US$500 million while other minerals will contribute US$1,5 billion. – Chronicle
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