Gold deliveries up 86%
LIVINGSTONE MARUFU
Gold deliveries to Fidelity Printers and Refiners (FPR) rose by more than half to 13.172 tonnes in the first five months of this year from 7.069 tonnes reported in the same period last year due to firming prices.
FPR acting general manager, Peter Magaramombe said Zimbabwe should capitalise on international gold prices to ramp up production.
“There is a huge need to ramp up production following the firm commodity prices on the international market,” Magaramombe said.
The Chamber of Mines of Zimbabwe CEO Isaac Kwesu said: “Miners should capitalise on firm prices to ramp up production, which is below expectations, in order to get significant export revenue that can be reinvested into the mining houses operations.”
Zimbabwe’s gold export receipts rose 42% to US$1.7bn during 2021 from US$1.2bn earned during 2020 due to improved gold output and firm prices.
On Monday, international gold prices stood at US$58 830 per kilogramme and Fidelity was paying above US$56 368 per kg.
