Fidelity urged to ensure pricing system that prevents gold leakages

By Providence Maraneli

SMALL scale miners in Gwanda have commended government for creating a conducive environment to increase gold production in line with the target to attain a US$12 billion mining economy by next year.  

With a gram of gold fetching an average of US$56 against an average of US$53 at the black market in May and the first quarter of June, small scale miners in Gwanda are confident the country’s vision of a US$12 mining economy is attainable if Fidelity Printers and Refiners meet their end of the bargain.

“When the pricing is right it makes our work easy and the constant supply of cash also contributes to our production. For instance we may have breakdown of machinery that needs maintenance and if Fidelity continues this way I think we can be better. I think for now fidelity is doing fine, it only has to improve on the cash supply,” said Mr Sibangani Ncube, West Nicholson Miner.

“We were affected by COVID-19 as you know, but there is a significant movement now in terms of production. Yes you know mining is capital intensive but we have made strides especially after COVID-19 though we are facing prices challenges. With Fidelity, we are supportive because that’s what grows our economy,” noted another miner, Mr Moses Sabula.

With government support guaranteed and the environment conducive, miners have been challenged to ramp up production.

We need to encourage some growth from being small scale miners to medium scale and with government support this is attainable and this will increase in production and create a base for good economic growth. We need to encourage and support all these up coming miners and this also entails pricing and equipment as it will increase the country’s gold reserves,” said Former President Zimbabwe Miners Federation, Mr Trynos Nkomo.

Government has set a target of a US$12 mining economy by next year, with small scale miners expected to play a major role.