Gold buyers deliver 7.8 tonnes of yellow metal

By Tendai Munengwa

THE Reserve Bank of Zimbabwe’s initiatives to empower small to medium miners has seen the Gold Buyers Association of Zimbabwe mobilising 7.8 tonnes of gold up from 800 kilogrammes for the year 2021.

With a key goal of achieving a US$12 billion mining industry by 2023, the move taken by RBZ to incentivise gold buyers has paid dividends with the Gold Buyers Association of Zimbabwe breaking the record after delivering 7.8 tonnes of gold to Fidelity Printers and Refineries by year end.

“We want to thank the new dispensation and favourable policies introduced by President Emmerson Mnangagwa which have seen RBZ availing incentive to black Gold dealers. This has enabled our members to mobilize 7.8 tonnes of gold up from 800 kgs of last year. We hope that with this incentive this year we can be able to buy 2 tonnes per month and by 2025 the gold buyers association is targeting 50 tonnes so that we contribute to the 100 tonnes government target by 2023,” notes president of the Gold buyers association Pedzisai Scott Sakupwanya.

Gold buyers appealed for the opening of more gold buying centres to curb leakage and ensure that small scale miners deliver more gold to Fidelity.

“We thank the gold buyers association for negotiating incentives for us. We are now able to offer competing prices to the miners and we empowering others to venture into gold buying. So we hope with these incentives we are on the right track to mobilise more gold, says gold buyer Pritchard Sibanda.’’

“This years the launch of the gold buyers association has created opportunities for us and what we are appealing for now is for more gold buying centres to be opened so that all gold from small scale miners goes to fidelity,” notes Tawanda Chidzidzi, a gold buyer.

Gold is the country’s biggest foreign currency earner and artisanal miners have been cited as key in the extraction of 100 tonnes of the precious mineral by 2023.

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