Gold deliveries 32% up

Gold deliveries to Fidelity Refineries in January were 3.134 tonnes, 32% more total tonnes delivered in January last year.

Last month, large scale miners delivered 868.7kg and small scale producers accounted for the huge chunk delivering 2,265kg.

In January last year, primary producers delivered 1,108kg while smaller miners sold 1,333kg.

January is traditionally slow for miners owing to wet weather which has a strong bearing on their operations.

Gold is one of the country’s major source of foreign currency.

Key Bullet Points in numbers:

Gold deliveries in January 2025: 3,134 tonnes (32% increase from January 2024).

Artisanal and small-scale miners’ contribution: 2,265 tonnes (70% of total deliveries). Large-scale miners’ contribution: 868.8 kg.

Gold deliveries in January 2024: 2,375 tonnes (artisanal miners contributed 1,333 tonnes). 2024 total gold output: 36.4 tonnes (21.2% increase from 2023).

Artisanal miners’ 2024 contribution: 23.7 tonnes. 2025 gold target: 40 tonnes. Gold-backed reserves for ZiG currency: 2.67 tonnes (valued at US$228 million).

Total reserves supporting ZiG: US$533 million. Gold-buying centers planned for 2025: 25 (up from 20 in 2024).

Zwnews