Prisca Muchokore, manager of DT Mining Syndicates, places small balls of mined gold onto a scale to weigh and calculate payment for the artisanal miners at a small-scale gold mine in Umguza, Zimbabwe, on Saturday, Nov. 10, 2018. On January 1, the London Bullion Market Association will introduce a new version of guidelines for the Responsible Gold Guidance program that embrace whats called environmental, social and governance standards. Photographer: Cynthia R Matonhodze/Bloomberg via Getty Images
Fidelity Gold Refineries has recorded 55.6 percent in gold deliveries in the second quarter of 2024 by small miners.
This is a result to the surge in Artisanal & Small-Scale Miners (ASM) gold deliveries attributed to government measures and FGR strategies says Zimbabwe Miners Federation (ZMF)
Key factors:
💠Regularization of hammer mills use.
💠Removal of 15% VAT on gold sales.
💠Fidelity Gold Refinery’s (FGR) marketing strategies.
Government’s relaxed stance on hammer mills boosted gold production.
Education and awareness campaigns led by the gold mobilization team.
💠Improved services by FGR: advertising, feedback channels, extended hours.
💠Overall gold deliveries: 7,739.4241 kgs in Q2 2024, a 28.033% increase from Q1.
💠Small-scale miners’ contribution: 4,515.1660 kgs in Q2, up 55.5988% from Q1.
💠Large-scale miners’ contribution: 3,224.2581 kgs in Q2, up 2.58314% from Q1.
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