Fidelity reviews threshold bracket for gold deliveries, move excites small scale miners

FIDELITY Gold Refiners (FGR) has with immediate effect revised the threshold bracket for gold deliveries to 500 grams per calendar month, down from the previous 20 kilograms.
The development is a major boost for smaller-scale miners who are the primary gold producers as they will benefit from the five percent gold incentive.
The revision follows engagements between the Zimbabwe Miners Federation (ZMF) and FGR. In an internal memo to miners, ZMF chief executive officer, Mr Wellington Takavarasha, highlighted the positive impact on mining operations.
“We are pleased to inform you that, following Zimbabwe Miners Federation (ZMF) meetings with Fidelity Gold Refiners (FGR), the incentive threshold bracket for gold deliveries has been revised to benefit artisanal and small-scale miners,” he said.
“The revised threshold bracket is now set at 500 grams per calendar month, down from the previous 20 kilograms to benefit from the five percent gold incentive. “This change is effective immediately and aims to support and reward our members who are producing smaller quantities of gold whilst contributing to the growth of the gold mining sector,” said Mr Takavarasha.
He applauded Fidelity Gold Refiners for listening to their plea and for their continued support.
Gold deliveries surged by 32 percent to 3.134 tonnes in January 2025, compared to 2.375 tonnes during the same period last year, with artisanal small-scale miners accounting for 70 percent of total deliveries.
Artisanal and small-scale miners delivered 2.265 tonnes, while large-scale miners accounted for 868.8 kilograms, compared to 1.108 tonnes by large-scale miners in January last year.
During the same period, artisanal and small-scale miners had delivered 1.333 tonnes.