In a significant development for Zimbabwe’s gold mining sector, the Zimbabwe Miners Federation (ZMF) has successfully negotiated a revised incentive threshold bracket for gold deliveries with Fidelity Gold Refiners (FGR).
This move is expected to greatly benefit artisanal and small-scale miners.
Effective immediately, the new threshold bracket has been reduced from 20 kilograms to 500 grams per calendar month, making it easier for smaller-scale miners to qualify for the 5% gold incentive.
This change aims to support and reward ZMF members who produce smaller quantities of gold while contributing to the growth of the sector.
According to Wellington Takavarasha, Chief Executive Officer of the ZMF, “We believe that this revision will have a positive impact on our members and the sector as a whole. We would like to thank Fidelity Gold Refiners for listening to our pleas and their continued support.”
The ZMF has urged its members to take advantage of this revised incentive structure by ensuring that their mine’s name and ZMF membership are indicated on the delivery sheet.
This will enable Fidelity Gold Refiners to apply the 5% gold incentive to all eligible gold deliveries.
This development is seen as a major boost for Zimbabwe’s artisanal and small-scale miners, who play a significant role in the country’s gold mining sector.
