Fidelity Gold Refinery invites bids for gold collection centre construction

Fidelity Gold Refinery (FGR), a wholly owned subsidiary of the Mutapa Investment Fund, has issued a tender for the construction of gold collection centres as part of efforts to improve accessibility and efficiency in Zimbabwe's gold-buying operations.

Currently, FGR operates 17 gold-buying centres strategically located across all mining provinces in Zimbabwe. In a notice, the company announced its intention to engage reputable and experienced construction firms to undertake the project. Interested contractors have until Friday to submit their applications.

The government has identified the establishment of gold collection centres as a key intervention to address challenges faced by small-scale miners, particularly their limited access to modern mining machinery and technical expertise. According to the 2025 National Budget statement, Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube, said the initiative will be financed through a public-private partnership.

To enhance accessibility and security, FGR has decentralised its gold-buying operations from Harare to all gold-producing regions. This move aims to reduce the risks associated with transporting gold over long distances while ensuring that miners can sell their gold more conveniently. Additionally, the company has appointed Gold Buying Agents to facilitate the collection of gold from remote areas, including artisanal mining communities.

The gold sector plays a crucial role in Zimbabwe's economy, with small-scale miners contributing approximately 60 percent of the country's total gold receipts. This has necessitated continuous efforts to support their production and formalise gold trading. Gold, alongside Platinum Group Metals (PGMs), remains one of Zimbabwe's top foreign currency earners, accounting for more than half of the country's annual export revenues.

The announcement comes at a time when global gold prices have surged by 13.6 percent, surpassing the US$3 000-per-ounce mark and setting a new all-time high. The rally has been driven by geopolitical tensions and global economic uncertainty, which have increased investor demand for safe-haven assets.

With the expansion of collection centres and improved buying systems, Zimbabwe's gold industry is expected to become more efficient, benefiting both miners and the broader economy.