$27m disbursed to small scale miners

Business Reporter
FIDELITY Printers and Refiners has so far disbursed $27 million out of the $40 million loan facility meant to enhance operations of small scale gold producers in the country, an official has said.

The Reserve Bank of Zimbabwe (RBZ) availed the $40 million package early this year as part of Government efforts to capacitate small scale gold producers mainly with accessing inputs and key equipment.

The move followed realisation of the increasing contribution of the sector to mining output and export earnings.

Zimbabwe Mining Federation (ZMF), an umbrella body for all small scale miners in the country, is coordinating the disbursement of the funds working closely with Fidelity Printers and the Ministry of Mines and Mining Development.

ZMF spokesperson Mr Dosman Mangisi urged more miners to apply for the remaining part of the fund and boost their operations.

“$13 million is still there for the loan facility and $27 million has been accessed.

“Extensive arrangements have been done with FPR principals who are keen to see small scale miners being capacitated and have long tasked ZMF to recommend miners to be assessed,” said Mr Mangisi.

“We urge small scale miners not to shy away because the funds are still there and conditions for small packages have been relaxed further. Some miners have returns from millers, which they submit to the Ministry of Mines.

“We have advised the provincial mining directors to forward names of such people who are in need of assistance. FPR principals have long extended this facility, which we are calling on the miners to utilise.”

Meanwhile, ZMF is pushing for the establishment of a one stop mining operation in the small scale gold sector as a measure to boost output. Mr Mangisi said the one stop mining facility was aimed at assisting miners to extract gold ore and process it on site.

“Small scale gold producers who are not processing ores at their mining claims are operating at a loss due to high down time and absence of beneficiation. Miners should take advantage of the Reserve Bank of Zimbabwe loan facility, which is being rolled out by Fidelity,” he said.

Mr Mangisi said the ongoing capacitation of miners would result in a sharp increase in gold deliveries from small scale miners and urged more players to participate in the scheme.