Gold buyer on course to meet target

Source: Gold buyer on course to meet target | Sunday Mail (Local News)

Sunday Mail Correspondent

GOLD buying company Better Brands Jewellery (BBJ) is confident it will be able to deliver its set target of two tonnes of gold per month to Fidelity Printer and Refiners (FPR).

BBJ chief executive officer Mr Scott Sakupwanya, who is also chairperson of the National Gold Buyers Association of Zimbabwe (NGBAZ), said the company will play its part to ensure the country achieves its target of delivering 27 tonnes of gold to FPR this year.

“In June, our total tally for the year was approximately 1,4 tonnes of gold, but that has since gone up, pretty much in line with what we had said we would do. If it were not for fly-by-night buyers who are disrupting the industry, I believe the country could have achieved the 27 tonnes target by now.”

NGBAZ is understood to be working closely with FPR to plug gold leakages.

“Our thrust is to ensure the country’s interests are protected in the trading of gold, and our mandate is to raise bullion deliveries through solid and recognisable structures as well as help with the monitoring and co-ordination of licensed players.”

FPR acting general manager Mr Peter Magaramombe said BBJ is one of their biggest clients.

“Better Brands remains one of the biggest gold-buying agent for Fidelity. From January to September, they have delivered 3,8 tonnes,” he said.

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