Fidelity backs small-scale miners
….. a crucial move for sector sustainability and growth

CLOUDINE MATOLA
Fidelity Gold Refinery (FGR), the country’s sole buyer and marketer of gold, has reaffirmed its commitment to supporting the growth and development of Zimbabwe’s artisanal and small-scale miners (ASM), Business Times can report.
This pledge comes as the ASM sector has become an increasingly important contributor to the country’s economy, particularly within the gold sector, and remains a key pillar of Zimbabwe’s economic success.
The ASM sector’s impact on national exports is undeniable, with the miners contributing significantly to the country’s foreign currency earnings.
At the 2025 strategic meeting of the Zimbabwe Miners Federation, FGR’s General Manager, Peter Magaramombe, outlined a range of initiatives designed to further capacitate the ASM sector.
These efforts will help ensure that more gold is delivered to FGR , strengthening the partnership between the two entities.
Magaramombe emphasized FGR’s plan to empower ASM miners by creating a more conducive environment for their operations. The strategies laid out by Fidelity include establishing one-stop service centres, offering training programs, ensuring prompt payments, increasing the number of gold buying centres, and maintaining competitive pricing for the gold purchased from the sector.
In addition to these practical support measures, FGR will also introduce an annual ASM awards ceremony to recognize outstanding performance within the sector.
“In 2025, we aim to offer more support to artisanal and small-scale miners to boost gold production, ultimately increasing deliveries to Fidelity Gold Refinery. To reward those who demonstrate consistent performance and commitment, we will be providing starter packs that will include essential equipment such as compressors, generators, hammer mills, headgear, and consumables. These resources will be offered to miners who excel and consistently deliver gold,” Magaramombe stated.
Further demonstrating Fidelity’s investment in ASM growth, the company plans to set up custom elution service centres in key mining regions. These centres, already planned for areas such as Mberengwa, Ngundu, Kadoma, and Makaha, will be expanded as the year progresses, ensuring that miners have convenient access to services that will optimize their operations.
Fidelity recognizes that for ASM miners to reach their full potential, they must continuously improve their practices.
Addressing this need, Magaramombe highlighted Fidelity’s commitment to providing tailored training programs designed specifically for the challenges faced by ASM miners.
These programs will focus on key areas such as responsible mining, safety, health, and environmental management. Fidelity plans to engage directly with the ASM community to understand their unique needs and ensure that the training is relevant and impactful.
“The need for training in the artisanal and small-scale mining sector is clear. We have noticed that some miners require additional support to improve their mining practices. Through consultations with the ASM community, we will develop training programs to address critical issues such as environmental sustainability and safety protocols,” Magaramombe explained.
Magaramombe further reassured miners that Fidelity is committed to ensuring timely payments for all gold deliveries.
To guarantee prompt and reliable payments, Fidelity has partnered with banks to ensure that there is always cash available at all gold buying centers.
“In 2024, we increased our gold buying centres from 17 to 20. Our target for 2025 is to expand this number to 25, ensuring that more miners have access to a nearby gold buying centres where they can sell their gold and receive prompt payment. We understand that timely payments are essential for the sustainability of mining operations, and we are committed to making sure our miners are paid on time,” he said.
Additionally, Fidelity’s gold buying centres offer competitive prices for gold, which are benchmarked to the London Bullion Market Association (LBMA) prices.
This ensures that the gold delivered by ASM miners is compensated at a fair market value, a factor that contributes to the long-standing trust between the two parties.
For the first time, FGR plans to host an ASM awards ceremony to honour high-performing miners.
This initiative will offer recognition to those who excel in various aspects of their operations, including gold production, environmental management, and community development.
By highlighting these achievements, Fidelity aims to encourage greater participation and motivate miners to strive for higher standards.
“We are introducing the ASM awards ceremony to recognize and celebrate the achievements of those who go above and beyond in their mining practices. At the end of 2025, we will host this ceremony to reward the best performances within the sector. We want to acknowledge the miners who contribute to the growth of the gold sector and to Zimbabwe’s economy,” Magaramombe said.
Reflecting on the success of the ASM sector in 2024, Magaramombe took the opportunity to applaud the sector’s remarkable contributions to Fidelity Gold Refinery.
In 2024, the ASM sector contributed an impressive 65% of the total 36.5 tonnes of gold delivered to Fidelity, marking the highest gold delivery quantity in the company’s history.
This achievement, which represents a notable growth from the previous year’s 30-tonne delivery, underscores the dedication and hard work of Zimbabwe’s artisanal miners.
“Let me begin by celebrating a milestone in terms of gold deliveries achieved last year. In 2024, Fidelity received a total of 36.5 tonnes, which is a significant growth from the 30 tonnes delivered the year before. This is also the highest gold delivery quantity in the history of Fidelity. Of the total 36.5 tonnes delivered, 65% came from the ASM sector, while the remaining 35% was contributed by large-scale mines,” Magaramombe said.
This growth in ASM gold deliveries is a testament to the commitment and loyalty of the miners who have consistently increased their output over the years. As a result, Fidelity is optimistic about the future of the ASM sector and has set an ambitious target for 2025.
“We are targeting 40 tonnes for 2025. This growth in gold deliveries from the ASM sector demonstrates not only the sector’s resilience but also the positive impact of the ongoing support from Fidelity. We are confident that with continued investment in the sector, the ASM community will be able to meet this target and further solidify their place as key contributors to Zimbabwe’s gold industry,” Magaramombe affirmed.
Fidelity Gold Refinery’s ongoing efforts to support the ASM sector are indicative of the company’s recognition of the sector’s critical role in Zimbabwe’s economic development. By providing access to essential resources, timely payments, and training programs, Fidelity is helping to build a more sustainable and profitable mining sector.
As the ASM sector continues to grow, Fidelity’s focus on expanding its infrastructure and improving its services ensures that miners have the tools and support they need to succeed.
With the 2025 target set at 40 tonnes, Fidelity remains committed to its partnership with the ASM sector, offering support that fosters growth, rewards excellence, and encourages responsible mining practices.
Fidelity’s pledge to continue supporting the ASM sector is a significant step towards ensuring the sustainability and growth of the sector.
With a focus on capacity building, timely payments, increased gold buying centres, and recognition for outstanding performance, Fidelity is investing in the future of artisanal and small-scale mining in Zimbabwe.
As the sector expands and gold production increases, both FGR and ASM miners will continue to play a pivotal role in driving Zimbabwe’s economic growth and development.