Deliveries to Fidelity Printers and Refineries recover by 44%

By ZBC Reporter
ZIMBABWE’S gold deliveries to Fidelity Printers and Refineries( FPR) in January recovered by 44 percent, a development attributed to firming prices of the yellow metal on the international market, as well as incentives to the gold mining sector.
Data from the country’s only authorised buyer of gold, FPR, indicate that gold deliveries soared to 2,54 tonnes in January from 1,77 tonnes during the same month last year.
Small scale miners dominated deliveries at 1,81 tonnes, while large scale miners managed 0,73 tonnes of the yellow metal.
Fidelity Printers and Refineries General Manager, Fredrick Kunaka, told the ZBC News that while it is still too early to determine whether the gold deliveries are fully recovering, the positive trajectory will also depend on the stable economic climate.
“The deliveries have improved remember it has been a long time but we anticipate such a trend to continue,” he said.
Zimbabwe Women in Mining and Mining Development Secretary-General, Chiedza Chipangura says global gold prices which have increased to 1 600 United States dollars an ounce will positively affect the recovery of the local gold mining industry.
“It will largely depend on the direction of the global prices and how they can affect overall demand and supply,” she said.
Gold deliveries to Fidelity Printers and Refiners, fell 16,8 percent last year to 27 tonnes from 33,2 tonnes in 2018.