Better Brands Jewellery (BBJ) has continued to break records and has delivered nine tonnes of gold to Fidelity Printers since the beginning of the year as the small scale miners continue to boost gold delivery targets.
According to a statement released by BBR today, the company owned by prominent businessman Pedzai Scott Sakupwanya, last year alone delivered 8,5 tonnes of gold to Fidelity meaning they are set to double the 2021 targets.
The statement was released in the wake of a report by the Centre for Natural Resources Governance (CNRG) which released this week alleging that BBR was one of the companies used for gold leakages in the country.
The 35-page report released on Wednesday titled Zimbabwe’s Disappearing Gold: The Case of Mazowe and Penhalonga, CRNG alleges that the artisanal mining sector has been captured and that gold is not benefitting the state but individuals and Zanu PF as a political party.
“We are shocked by a report released last week by the NGO and we are really concerned about the falsehoods contained in the document which was quoted by several media outlets. What is of particular concern is the allegation that Better Brands is responsible for gold leakages. Actually Better Brands is doing well to ensure that we reduce gold smuggling outside Zimbabwe.
“We have so far delivered 9 tonnes of gold to Fidelity and it defies logic why someone would question us for that. This has never happened in the country and this year we aim to double what we delivered last year,” reads part of the statement.
Recently President Emmerson Mnangagwa said the extractive sector was expected to hit US$8 billion this year and the bullion industry had outperformed the diamond, platinum and coal groups.
The revelations also come as Fidelity Gold Refiners (Fidelity) acting general manager Peter Magaramombe recently told a local weekly that deliveries to his organisation had clocked 13-plus tonnes by May – at the back of an 86 percent growth for the entire sub-sector.
Mines minister Winston Chitando also recently said government data shows that small-scale miners had contributed about seven of the 10 tonnes of gold delivered in April – amid indications that they are still making up to 60 percent of national output.
Better Brands suggested that government needs to regulate the thousands of small scale miners who operate unregulated hammer mills as they produce unaccounted for gold which they then sell to unscrupulous traders who in turn smuggle the gold to mainly South Africa.
“Authorities need to close the loopholes on the thousands of people who have small milling milling machines called hammer mills. We are not monopolising the gold industry as alleged. BBJ actually has branches across the country and we are offering good prices for buying the gold. Everyone is free to either sell to us or they can go straight to Fidelity.
“Our detractors will always try to find fault in the business we do. Everything we do is above board and we are open to scrutiny. The Fidelity offers incentives ito boost production for everyone. We are playing our part in growing the small scale miners hence they now produce more.
“Small scale miners are now delivering more gold to Fidelity than big established mines. It’s because we are paying very good prices to the miners across the country. We urge gold industry players to work together to boost production,” said Better Brands.
