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Fidelity Gold Refinery (FGR) is targeting 55 tonnes of gold deliveries in 2027, a 10% increase on its projected 50-tonne outturn for 2026, as the national gold buyer seeks to expand formal gold mobilisation through improved buying infrastructure, competitive payment arrangements and stronger responsible sourcing systems, Mining Zimbabwe can report.
By Rudairo Mapuranga
The target was announced on Friday by FGR General Manager Peter Magaramombe during a stakeholder consultative meeting held under the theme “Strengthening Partnerships for Sustainable Gold Mobilisation and Responsible Sourcing”, where the refinery began gathering industry input to inform its 2027 Strategic Plan.
Magaramombe said FGR had recorded significant growth in gold deliveries, rising from 29.6 tonnes in 2021 to 40 tonnes between January 1 and October 31, 2026. The refinery is projecting full-year deliveries of 50 tonnes, which would provide the baseline for its next growth target.
“Gold continues to play a critical role in Zimbabwe’s economy through foreign currency generation, employment creation and the sustenance of livelihoods across our communities,” he said.
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Achieving the 55-tonne target will require FGR to mobilise an additional five tonnes above its projected 2026 deliveries, with the refinery identifying improved access to formal buying facilities, financing, reliable electricity, modern mining equipment and reduced gold leakages as important areas requiring coordinated action.
A key part of this strategy is the expansion of FGR’s gold buying network, which currently comprises 25 buying centres, supported by mobile buying units serving mining areas where fixed facilities and buying agents are less accessible.
Magaramombe said the Mberengwa Gold Service Centre was scheduled for commissioning in November 2026, while construction was underway at Inyathi.
The facilities are intended to bring gold purchasing and associated services closer to mining communities, reducing the logistical challenges miners face when delivering gold through formal channels.
FGR is also seeking stakeholder input on where additional buying centres should be established, as well as measures to improve turnaround times in gold buying, assaying and payments.
Beyond physical infrastructure, the refinery wants to maintain a competitive value proposition for miners delivering through formal channels. Discussions include the existing 100% foreign currency retention arrangement, pricing transparency, payment efficiency and possible incentives to encourage formal deliveries.
The competitiveness of formal gold purchasing remains important in efforts to reduce leakages into informal and illicit trading networks, particularly where miners’ decisions are influenced by the convenience, reliability and returns offered by different buyers.
Responsible sourcing and traceability also feature prominently in FGR’s 2027 planning priorities. The refinery is seeking closer cooperation with miners, regulators and industry associations on implementing the Gold Card, improving gold traceability and promoting mercury-free processing.
These efforts are linked to Zimbabwe’s obligations under the Minamata Convention on Mercury and the responsible sourcing requirements promoted by the London Bullion Market Association (LBMA).
Magaramombe said the refinery wanted its strategic direction to reflect the practical challenges confronting miners, rather than being developed solely around institutional priorities.
He identified access to affordable financing and equipment, electricity reliability, exploration and mine expansion as areas where coordinated industry intervention would be necessary to increase formal gold deliveries.
He also urged financial institutions and other partners to propose practical financing solutions that could help miners improve production capacity and deliver more gold through formal channels.
“We recognise that constructive criticism is essential to improving our services and strengthening our relationship with the mining sector,” he said.
The stakeholder consultation is intended to help FGR identify operational bottlenecks, establish priorities and assign responsibilities for implementing measures under its 2027 Strategic Plan.
Magaramombe said the refinery’s performance should not be judged exclusively by the volume of gold received, but also by the quality of services provided to miners and the confidence built across the sector.
“Our success will not be measured by gold deliveries alone. It will also be measured by the trust we build, the barriers we remove, the opportunities we create for miners and the strength of the partnerships we sustain,” he said.
The meeting brought together representatives from mining associations, government institutions, financial institutions, regulatory bodies and other stakeholders in Zimbabwe’s gold industry.