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RBZ Says 2022 Gold Deliveries 60% Higher Than 2021 Deliveries

The Reserve Bank of Zimbabwe (RBZ) has said gold deliveries to Fidelity Gold Refinery in the first half of 2022 were higher than 2021 first half deliveries by 60 per cent.

In the Mid-term Monetary Policy Statement (MPS) presented this Thursday, RBZ governor, John Mangudya said:

Gold deliveries to Fidelity Gold Refinery (Private) Limited (FGR) for the period 1 January 2022 to 30 June 2022 were 15,972.52 kgs, compared to 9,954.67 kgs delivered during the same period in 2021. This represents a year-to-year variance (increase) of 60.45% or 6,017.85 kgs.

The table below shows the gold deliveries as of 30 June 2022.

  Year 2021  Year 2022  
MonthPrimarySmall ScaleTotalPrimarySmall ScaleTotal% Change
Jan642.11355.52997.62814.282,053.662,867.94187.48%
Feb609.84560.831,170.66930.981,331.052,262.0393.23%
March1,139.42670.071,809.491,000.911,563.832,564.7541.74%
April752.32632.261,384.59859.441621.972,481.4179.22%
May884.20783.811,668.011,055.681935.572,991.2579.33%
June1,125.601,798.702,924.30837.121,968.022,805.13-4.08%
July874.311,950.312,824.62965.791,998.132,963.914.93%
August1,034.541,913.492,948.03    
September1,004.512167.363,171.86    
October1,005.122046.793,051.91    
November1,075.202,261.303,336.50    
December1011.833330.184,342.01    
TOTAL11,159.0018,470.6129,629.606,464.1912,472.2418,936.43 

As shown in the table above, total deliveries during the first half of 2022 were 60.45% or 9.954.67 kgs more than what was achieved over the same period in 2021.

The central bank projects that the delivery of the targeted 35 000 tonnes by end of the year 2022 is within reach.

Meanwhile, the apex bank believes it is important to maintain the incentives for deliveries and complement them with increased monitoring of gold producers to reduce leakages into the parallel market. Mangudya says this will ensure that the set target is achieved.

The Centre for Natural Resource Governance (CNRG) last month claimed that Zimbabwe is losing at least three tonnes of gold valued at US$157 million monthly through illicit financial flows.

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