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Fidelity extends loans to small scale miners

Fidelity Printers and Refiners (FPR) through the Gold Development Initiative Fund (GDIF) says it will continue to offer financial support to artisanal and small-scale gold miners as part of efforts to improve production

Fidelity Printers and Refiners (FPR) through the Gold Development Initiative Fund (GDIF) says it will continue to offer financial support to artisanal and small-scale gold miners as part of efforts to improve production.

The small scale mining sector has become a key player in the country`s gold sector.

In the month of August, small scale gold producers delivered 3.03 tonnes of the 3.92 tonnes gold delivered to Fidelity Printers and Refineries while large scale miners chipped in with 0.89 tonnes.

Addressing small scale miners at a gold mining conference held in Bulawayo on Thursday, GDIF Head Mr Matthew Chidavaenzi said they will support miners with finance and mining expertise.

“We will be providing flexible, affordable, accessible, innovative financing options and we will also be providing a strong team composed of dedicated and seasoned mining and mining Investment professionals to small scale miners,” he said.

The conference, which is the second to be held in the country, was held under theme, “Sell your gold to Fidelity Printers and Refiners and help generate foreign currency to develop Zimbabwe”.

In an interview with CITE, Ms Eunice Murefu a small-scale miner from Filabusi said that the move by GDIF to provide loans will enable them to buy proper machinery for both mining and milling.

“I was having a problem with purchasing a small jaw crusher because I had no financial support and I had to pay other people to crush my supplies but now I’m happy that I can apply for a loan and buy the efficient equipment,” she said.

The miners also appealed to government to protect them from mining equipment suppliers who dupe them by selling them faulty machinery.

“On behalf of the miners I am appealing to the FPR and GDIF to make an effort in making sure that suppliers who sell equipment to artisanal and small-scale miners are licensed within FPR because there is a danger of losing money when we transfer our money to equipment suppliers  who sell us old and inefficient equipment which they paint to look new,” said Mr Maphosa,  a small scale miner from Bubi

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