RBZ To Start Payment Of Money Owed To Gold Producers

The Reserve Bank of Zimbabwe has announced that it will start next week to pay gold producers their outstanding amounts.

The announcement follows a meeting between the RBZ governor Dr John Mangudya and the Zimbabwe Miners Federation (ZMF) officials who expressed concern over the late payments.

ZMF president, Henrietta Rushwawa said the RBZ governor had apologised for the late payments. She said:

We just came out of a meeting with the RBZ Governor and he has apologised and committed that outstanding FPR Bullion Payments will be done starting next week. Any inconvenience that has arisen out of this is sincerely regretted.

Let us continue sending our Bullion to Fidelity and if we experience payment challenges thereafter, kindly feel free to raise the alarm through our ZMF Secretariat for engagement with FPR/ RBZ.

Mining Zimbabwe reports that miners have been going for weeks without payments, a situation that resulted in some resorting to selling their gold on the parallel market.

In a move to curb gold leakages, the country’s only gold exporter, Fidelity Printers and Refineries recently announced that gold producers would be given 100 percent of their money in foreign currency.

More: Mining Zimbabwe


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