Online Reporter
Business Writer
ZIMBABWE’S gold deliveries to Fidelity Gold Refinery (FGR) reached 26,05 tonnes during the first seven months of 2026, with small-scale and artisanal miners continuing to dominate production and underpinning the country’s drive towards its annual output target of 55 tonnes.
The performance builds on strong growth recorded in recent years. Gold deliveries to FGR reached a historic 24,31 tonnes (24 308,57kg) in the seven months to July 2025, representing a 40,7 percent increase compared to the corresponding period in 2024.
The latest official figures show that small-scale producers delivered 18,4 tonnes between January and July, accounting for about 70,6 percent of total deliveries, while primary producers contributed 7,64 tonnes.
Gold deliveries gathered momentum during the second quarter, with monthly purchases peaking at 4,81 tonnes in June, according to official statistics.
During that month, small-scale and artisanal miners delivered 3,58 tonnes, while primary producers contributed 1,22 tonnes.
Primary producers posted steady month-on-month growth, with deliveries increasing from 0,808 tonnes in January to a peak of 1,229 tonnes in June.
Small-scale deliveries also staged a strong recovery after falling to 1,748 tonnes in March before reaching peak levels in June. With 26,05 tonnes delivered by the end of July, the sector remains on course to achieve the country’s annual target of 55 tonnes.
Gold remains Zimbabwe’s largest foreign currency earner and plays a pivotal role in export earnings, Government revenue and macroeconomic stability.
In addition to generating foreign exchange, bullion reserves held by the Reserve Bank of Zimbabwe provide critical backing for the Zimbabwe Gold (ZiG) currency, helping to support exchange rate stability and market confidence.
Although artisanal and small-scale miners account for the bulk of deliveries, the primary mining sector is undergoing significant expansion as producers invest in increasing output.
To boost production, the sector continues to attract substantial capital investment into large-scale mining projects.
Among the major investments is the Bilboes Gold Project, while local commercial banks have also arranged syndicated loan facilities to finance plant modernisation programmes and underground mine expansion projects across the sector.
The syndicated funding facilities are strengthening the financial position of mining companies and enabling producers to expand processing capacity and improve operational efficiency.
Meanwhile, Fidelity has taken steps to strengthen transparency and accountability across Zimbabwe’s gold value chain through a partnership with the Zimbabwe Anti-Corruption Commission (Zacc), aimed at promoting ethical leadership and corruption prevention. As part of the initiative, members of Fidelity’s Integrity Committee recently signed Integrity Pledges.
The Integrity Pledges were signed during a two-day Integrity Workshop held at Cresta Lodge Msasa in Harare.
The workshop brought together members of Fidelity’s Integrity Committee, board members, senior executives and Zacc officials to reinforce ethical leadership, strengthen corporate governance and enhance corruption prevention mechanisms within the organisation.
The initiative forms part of Fidelity’s wider governance strategy aimed at strengthening institutional resilience, enhancing public confidence and supporting national efforts to combat corruption.
By embedding integrity into its organisational culture and promoting accountability at all levels, Fidelity seeks to safeguard transparency and strengthen confidence in Zimbabwe’s gold value chain.
Officially opening the workshop, Fidelity general manager Mr Peter Magaramombe said the training reflected the organisation’s 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 came at a critical stage as Fidelity intensifies efforts to seal operational loopholes 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 strengthening 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.
Advocate Manhivi commended Fidelity for adopting a proactive approach to corruption prevention through ongoing integrity training and institutional capacity building, describing the initiative as an example of leadership in promoting ethical governance within Zimbabwe’s mining sector.
As Zimbabwe’s sole gold refinery, Fidelity says protecting the integrity of the gold value chain remains central to building investor confidence, safeguarding national resources and ensuring the country derives maximum value from its mineral wealth.
Throughout the two-day workshop, participants received training on corruption prevention, integrity management, ethical leadership, corporate governance, corruption risk identification, conflict-of-interest management, whistle-blower protection and the implementation of effective anti-corruption systems.
The sessions also provided practical guidance on embedding integrity within 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 the personal responsibility of committee members 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 framework and institutional resilience while supporting national efforts to combat corruption.
