Gold Deliveries

32. Domestically, the business community, notably, the Chamber of Mines of

Zimbabwe and Confederation of Zimbabwe Industries (CZI) are bullish about the economic prospects in 2022. For instance, the state of the Mining

Industry Report suggests that the mining business confidence index recorded an increase from 9.8% in 2021 to 17% in 2022. The report also noted that about 42% of the respondents in the mining sector expect to ramp up production by over 40% in 2022.

33. The positive sentiments on the economy by the business community suggest that the expected robust economic growth envisaged in 2022 is attainable.

Economic growth would be driven by construction, mining as international commodity prices increased as well as accommodation and food services in line with easing of Covid-19 restrictions.

Gold Deliveries

34. In the mining sector, gold deliveries to Fidelity Gold Refiners (FGR) jumped from 19 052.65 kgs delivered in 2020 to 29 629.61 kgs delivered in 2021.

This represents an increase of 55.51% or 10 576.96 kgs. The increase is mainly attributable to the 5% gold incentive given to those delivering at least 20kg to FGR and an incremental of 2 percentage points for each ton delivered to FGR.

35. During the same period, primary gold producers delivered a total of 11 159.00 kgs, compared to 9 738.75 kgs delivered over the same period in 2020. This shows a 14.58% or 1 420.25 kgs year on year growth in terms of primaryproducer deliveries. Deliveries from small-scale gold producers also increased from 9 313.89 kgs during the period January to December 2021 compared to 18 470.61 kgs during the same period in 2020. This represents a year-on-year growth of 98.31% or 9 156.72 kgs.