The Sunday Mail
Sunday Mail Reporter
ZIMBABWE’S gold sector has continued to sparkle as it has registered an 86 percent year-on-year growth to date, President Mnangagwa said recently.
Small-scale miners, largely backed by gold buyer Better Brands Jewellery (BBJ), have remained the lifeblood of the key sub-sector.
More than 13 tonnes had been delivered to authorities as of May. Speaking at the recent Chamber of Mines of Zimbabwe annual meeting in Victoria Falls, President Mnangagwa said: “Within three years, the (extractive) sector has risen from US$2,2 billion to … US$6 billion and is likely to hit US$8 billion.
“Continued investments in the key resources sector have complemented Government’s efforts towards its US$12 billion target or vision by 2023.
“Focus should now be on unlocking value from our rich mineral base for sustainable socio-economic development.
“Beneficiation… cannot be achieved by a business-as-usual mind-set. It requires industrial linkages within mining and across sectors of the economy,” he said.
Mines and Mining Development Minister Winston Chitando has reiterated that it is important to have a “positively growing small and large-scale as well as efficient mining sector”.
Fidelity Gold Refiners (FGR) data shows that small-scale miners, mainly powered by Mr Pedzai Scott Sakupwanya’s BBJ — had weighed in with seven of the 10 tonnes delivered in April, while bigger firms supplied four tonnes.
FGR acting general manager Mr Peter Magaramombe has implored local miners to “take advantage of rising global prices and to increase production”.
The yellow metal exports rose 42 percent to US$1,7 billion last year, up from US$1,2 billion in 2020, and a kilogramme was trading at nearly US$59 000 on the international markets last week, while FGR was paying US$56 000. In the meantime, small-scale miners have consistently remained the biggest contributors of gold delivered at FGR, contributing upwards of 60 percent of national output.
Along with other players under the parent Zimbabwe Miners Federation and the National Gold Buyers Association, BBJ —which has reportedly tendered nine tonnes to date — forms an integral part of Harare’s gold mobilisation team.
Mr Sakupwanya, who is also Old Mabvuku Ward 21 councillor has more than 5 000 artisanal miners under his purview.
