HARARE, Nov. 27 (Xinhua) — According to Mines and Mining Development Minister Zhemu Soda, the amount of gold delivered to Zimbabwe’s Fidelity Gold Refinery, the country’s only gold buyer, was 26.2 tonnes between January and October this year.
The minister explained that this fell short of the targeted 40 tonnes for the entire year. He also noted that small-scale gold miners delivered 16.5 tonnes, down from 20.1 tonnes in the same period last year.
According to the minister, the decline in gold production by small-scale miners, who are the main contributors to gold delivery to Fidelity Gold Refinery, is due to a lack of mechanization in the artisanal sector and a lack of geological reports to assess resources at mining locations. He also stated that limited access to capital is a major challenge for most small-scale miners since they don’t have enough assets for collateral.
Gold is one of Zimbabwe’s key foreign currency earners, alongside tobacco leaf and platinum. Last year, the country produced a record 35.38 tonnes of gold.
