Online Reporter
Business Reporter
Zimbabwe’s gold deliveries to State-run buyer Fidelity Gold Refinery reached 26,05 tonnes during the first seven months of 2026, driven by output from small-scale and artisanal miners.
Official figures show small-scale producers accounted for 18,4 tonnes, representing about 70,6 percent of total deliveries between January and July — while primary producers delivered 7,64 tonnes.
Delivery volume expanded significantly in the second quarter, reaching a peak in June when total monthly purchases hit 4,81 tonnes, the official figures show. During that month, small-scale producers and artisanal miners delivered 3,58 tonnes, while primary producers contributed 1,22 tonnes.
Primary producers recorded month-on-month gains, with monthly deliveries rising from 0,808 tonnes in January to a peak of 1,229 tonnes in June.
Small-scale deliveries rebounded sharply from a low of 1,748 tonnes in March before reaching peak levels in June. With 26,05 tonnes delivered by the end of July, the mining sector remains on track to meet the targets of 55 tonnes this year.
Gold remains Zimbabwe’s single largest foreign currency earner, playing a critical role in national revenue generation and macroeconomic stability.
Beyond export revenues, physical bullion reserves held by the Reserve Bank of Zimbabwe serve as the primary anchor backing the domestic currency, ZiG, ensuring exchange rate support and domestic market stability.
Although artisanal miners account for the bulk of volume, the primary mining sector is undergoing significant capital expansion.
To boost primary output, the sector is attracting substantial investment into large-scale developments.
Leading these capital deployment initiatives is the landmark Bilboes gold project, alongside major syndicated loan facilities arranged by local commercial banks to fund plant modernization and underground mine expansion.
The syndicated facilities are strengthening balance sheets and enabling primary producers to scale up processing capacity.
Meanwhile, Fidelity has taken fresh steps to reinforce the integrity of Zimbabwe’s gold value chain by partnering with the Zimbabwe Anti-Corruption Commission (ZACC) to strengthen ethical leadership and corruption prevention, with members of its Integrity Committee signing Integrity Pledges as part of the initiative.
The Integrity Pledges were signed during a two-day Integrity Workshop held recently at Cresta Lodge Msasa in Harare.
The workshop brought together members of Fidelity’s Integrity Committee, board members, senior management and ZACC officials to strengthen ethical leadership, enhance corporate governance and reinforce corruption prevention measures across the organisation.
The initiative forms part of Fidelity’s broader governance agenda to strengthen institutional resilience, enhance public confidence and support Zimbabwe’s national anti-corruption efforts.
By embedding integrity into its organisational culture and promoting personal accountability at every level, Fidelity aims to safeguard transparency and accountability across the country’s gold value chain.
Officially opening the workshop, Fidelity general manager, Mr Peter Magaramombe, said the training reflected Fidelity’s unwavering commitment to ethical leadership and sound corporate governance.
“As the national gold refinery, Fidelity plays a critical role in the gold value chain,” he said, “We understand that for Zimbabwe to fully benefit from its mineral resources, we must uphold the highest standards of integrity, transparency and accountability.
“Corruption has no place in the mining sector because it erodes value, discourages investment and robs the nation and its people of development.”
Mr Magaramombe said the workshop had come at a critical time as Fidelity deepens its systems to seal operational leakages and promote ethical conduct throughout the gold value chain.
Delivering the keynote address, Zimbabwe Anti-Corruption Commission executive secretary, Advocate Shepherd Manhivi, underscored the importance of integrity in building resilient institutions and safeguarding national resources.
“Integrity is the foundation upon which strong institutions are built,” he said. “It is not merely about complying with policies and procedures, but about consistently making ethical decisions and upholding accountability in the execution of our duties. Organisations that cultivate a culture of integrity are better positioned to prevent corruption, inspire public confidence and contribute meaningfully to national development,” said Advocate Manhivi.
He commended Fidelity for taking a proactive approach to corruption prevention through continuous integrity training and institutional capacity building, describing the initiative as a demonstration of leadership in promoting ethical governance within Zimbabwe’s mining sector.
As the country’s sole gold refinery, the company recognises that protecting the integrity of the gold value chain is essential to building investor confidence, safeguarding national resources and ensuring Zimbabwe derives maximum value from its mineral wealth.
Throughout the two-day workshop, participants received practical training on corruption prevention, integrity management, ethical leadership, corporate governance, corruption risk identification, conflict of interest management, whistleblower protection and the implementation of effective anti-corruption systems.
The sessions also provided practical guidance on embedding integrity into organisational culture and strengthening accountability across all levels of the business.
A key highlight of the workshop was the signing of Integrity Pledges by members of Fidelity’s Integrity Committee, committing themselves to upholding the highest standards of transparency and accountability.
The pledges affirm each member’s personal responsibility to champion ethical conduct, prevent corruption and promote a culture of integrity throughout the organisation.
Through its partnership with ZACC, Fidelity continues to strengthen its governance systems and institutional resilience while supporting national efforts to combat corruption.
