Fidelity Gold Refiners has announced plans to increase financial and technical support for artisanal and small-scale miners in 2025.
Speaking recently Fidelity Gold Refinery General Manager Peter Magaramombe of (FGR) said more than 3,500 miners received assistance in 2024, leading to higher gold production.
He said the company will continue providing funding, mining equipment, and incentives to improve output and formalize the sector.
In 2024, Zimbabwe’s gold production reached a record high of 36.48 tonnes, reflecting a 21% increase from the 30.1 tonnes produced in 2023. This achievement surpassed the government’s target of 35 tonnes for the year, driven by a significant rise in deliveries from both small-scale and large-scale miners.
Factors contributing to this surge included prompt payments to miners, the removal of VAT on gold sales mid-year, and favorable gold prices, which encouraged higher production levels. Small-scale miners contributed approximately 65% of the total gold output, highlighting their crucial role in the sector’s growth.
