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Michael Magoronga Midlands Correspondent
The Reserve Bank of Zimbabwe (RBZ) is working on modalities to avail additional support for small-scale miners.
This was said by RBZ chief inspector exchange control Mr Onias Masiiwa during his presentation at the Kwekwe Mining Expo Thursday last week.

The fund will be an addition to the $150 million loan facility that the small-scale miners received last year as a way of capacitating the small-scale miners.

Mr Masiiwa said the increase in gold production that Fidelity Printers were receiving from small-scale miners influenced the bank’s decision to avail additional funding.

“On top of the $150 million that the sector received, we are working on modalities to unlock more funding for the small scale miners. This was prompted by the impressive tonnage of gold that the fidelity printers are receiving from the small-scale miners,” he said.

Since January, the small scale miners have so far delivered 13,6 tonnes of gold to Fidelity compared to 5,7 tonnes for the same period last year.

Large scale miners in comparison have so far contributed 7,8 tonnes as compared to 6,3 tonnes last year.
“Since the unveiling of the fund last year, we have recorded a 60 percent increase in gold production from the small-scale miners. These are impressive figures that we would want to see increasing in future hence the plan to unlock more funding,” he said.

He said of the fund, 20 percent will be channelled towards women miners and a certain percentage that RBZ is still working on will be set aside for youths. Mr Masiiwa said RBZ remains optimistic that the loan scheme will address challenges faced by small scale miners.

“We want to see small scale miners setting up their gold processing centres, buying their explosives and other equipment using the fund. This in turn will boost gold deliveries to Fidelity Printers,” said Mr Musiiwa.
The mining expo brought together miners and stakeholders.

Miners from across the province as well as captains of the mining industry attended the function.