HARARE (FinX) The Zimbabwe Miners Federation (ZMF) has announced a significant revision to the incentive threshold for gold deliveries, aimed at supporting the country’s artisanal and small-scale miners. The new threshold, which lowers the qualifying amount from 20 kilograms to just 500 grams per month, is set to foster growth and sustainability among those who contribute vitally to Zimbabwe’s gold production.
ZMF’s Chief Executive Officer, Wellington Takavarasha, highlighted the importance of this change in recognising the essential role of small-scale miners in the economy. Small-scale miners, often operating in challenging conditions and with limited resources, have historically faced barriers in accessing financial incentives from larger entities. With the revised threshold, more miners can now qualify for the 5% gold incentive, thereby receiving the much-needed financial support to enhance their operations.
This decision comes on the heels of fruitful discussions between the ZMF and Fidelity Gold Refiners (FGR), underscoring a commitment to inclusivity within the industry. “We are pleased to inform our members that this change is effective immediately and will support those producing smaller quantities of gold while contributing to the growth of the gold mining sector,” Takavarasha stated.
The impact of the small-scale mining sector on Zimbabwe’s economy cannot be understated. By lowering the threshold, the ZMF aims to empower these miners, encouraging greater production levels and economic participation.
As part of the new protocol, miners will need to document their deliveries accurately, ensuring their mine’s name and ZMF membership status are clearly indicated on all delivery sheets. This move is designed to streamline the incentive application process and facilitate a smoother experience for the miners involved.
The ZMF’s initiative has garnered positive responses from the mining community, as stakeholders express gratitude to Fidelity Gold Refiners for their support and responsiveness to the needs of smaller miners.
