Constancy Gold Refinery (FGR), a completely owned subsidiary of the Mutapa Funding Fund, has issued a young for the development of gold assortment centres as a part of efforts to enhance accessibility and effectivity in Zimbabwe’s gold-buying operations.
Presently, FGR operates 17 gold-buying centres strategically situated throughout all mining provinces in Zimbabwe. In a discover, the corporate introduced its intention to have interaction respected and skilled development companies to undertake the mission. contractors have till Friday to submit their functions.
The federal government has recognized the institution of gold assortment centres as a key intervention to handle challenges confronted by small-scale miners, significantly their restricted entry to trendy mining equipment and technical experience. In accordance with the 2025 Nationwide Finances assertion, Finance, Financial Improvement, and Funding Promotion Minister, Professor Mthuli Ncube, stated the initiative will probably be financed by way of a public-private partnership.
To boost accessibility and safety, FGR has decentralised its gold-buying operations from Harare to all gold-producing areas. This transfer goals to scale back the dangers related to transporting gold over lengthy distances whereas guaranteeing that miners can promote their gold extra conveniently. Moreover, the corporate has appointed Gold Shopping for Brokers to facilitate the gathering of gold from distant areas, together with artisanal mining communities.
The gold sector performs a vital function in Zimbabwe’s economic system, with small-scale miners contributing roughly 60 % of the nation’s whole gold receipts. This has necessitated steady efforts to assist their manufacturing and formalise gold buying and selling. Gold, alongside Platinum Group Metals (PGMs), stays certainly one of Zimbabwe’s high international foreign money earners, accounting for greater than half of the nation’s annual export revenues.
The announcement comes at a time when international gold costs have surged by 13.6 %, surpassing the US$3 000-per-ounce mark and setting a brand new all-time excessive. The rally has been pushed by geopolitical tensions and international financial uncertainty, which have elevated investor demand for safe-haven property.
With the enlargement of assortment centres and improved shopping for techniques, Zimbabwe’s gold trade is anticipated to grow to be extra environment friendly, benefiting each miners and the broader economic system.
