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Gold production in Zimbabwe dropped by 26% to 3.79 tonnes in the first two months of this year from the 5.129 tonnes reported in the preceding comparative period.
The significant drop in gold output has been blamed on heavy rains received in most parts of the country.
Fidelity Gold Refiners (FGR) general manager, Peter Magaramombe, told <a href="https://businesstimes.co.zw/rains-wash-away-gold-output/">Business Times</a> that it was imperative to pump out water from mines to boost gold production. He said:
<blockquote>
Our gold deliveries have gone down significantly as the artisanal and small-scale producers were significantly affected by the rains from mid-December 2022 to date.
(Gold miners) are failing to mine due to high water levels.
There are fears of possible mine collapse accidents hence production fell significantly.
</blockquote>
Magaramombe said large-scale producers delivered 1.69 tonnes to FGR in January and February 2023. Small-scale miners delivered 2.099 tonnes during the same period.
As a result, gold export receipts fell 24% to US$228.73 million during the first two months of this year from US$302.5 million earned in the previous comparative period.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Pindula News

Zimbabwe's Gold Output Drops 26% Due To Heavy Rains

Fidelity Gold Refinery (FGR), the sole buyer, refiner and exporter of the precious metal, has announced the official gold buying prices for Friday 13 January 2023.
Pindula News presents the prices below:
<blockquote>
1). SG 90% and above US$56.01/g
2). SG above 85% but below 90% US$55.13/g
3). SG above 80% but below 85% US$54.54/g
4). SG above 75% but below 80% US$53.95/g
5). Sample below 10g but above 5g US$53.06/g
6). Fire Assay Cash US$56.01/g
</blockquote>
NB: Fire Assay cash price is for gold above 100gs and no sample is deducted.
i). For the Fire Assay Transfer price, a sample of not more than 10g is deducted.
ii). A 2% royalty is charged on all deposits (Small-scale Miners).
iii). A 5% royalty is charged to Primary Producers.
Fidelity Printers and Refiners prices will be changing in relation to world market prices.
Meanwhile, Fidelity Gold Refiners chief executive officer Peter Magaramombe said incentives to miners are paying off to such an extent that the viability of the sector hinges on sustaining the incentives to unlock more value.
The incentives were introduced to curb the leakage and smuggling of gold.
Zimbabwe Artisanal and Small Scale for Sustainable Mining Council president, Mr Wellington Takavarasha said, 
<blockquote>
It is all about the attractive prices that have positioned the industry in its growth path with the artisanal miners being impressed by the attractive prices.
</blockquote>
The Reserve Bank of Zimbabwe ranks the gold mining industry as number one in generating foreign currency.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Fidelity Gold Refinery Announces Gold Buying Prices For Friday 13 January 2023

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