Month-on-month gold deliveries drop

via Month-on-month gold deliveries drop | The Herald June 27, 2014

GOLD deliveries to Fidelity Printers and Refiners in five months to May this year were almost 5 000 kilogrammes, latest figures from Mines and Mining Development Ministry show.
On month on month basis, deliveries marginally dropped to 1 020,5 kg in May from 1 039,2 kg a month earlier.
In the five months to May, primary producers delivered 3 965,4 kg while deliveries from small-scale miners was 992,6 kilogrammes.

Caledonia’s Blanket Mine delivered 605,7 kg with the highest deliveries of 156,9 kg in January. Mwana Africa’s Fredda Rebecca delivered 684,2 kg and Falcon Gold’s Lulu Mines delivered 116 kg.

Deliveries from Shamva, Mazowe, How, Arcturus and Redwing all owned by Metallon were 278,4 kg, 115,2 kg, 658 kg, 93,1 kg and 3,1 kg respectively.
Metallon suspended operations at its Redwing Mine in Penhalonga due to flooding and it said it was considering engaging a contractor to dewater it. The company said Redwing was a wet mine and the company has been struggling to completely dewater the shafts after shutting down in 2008 at the height of hyperinflation.

Bilboes Holdings’s Isabella delivered 73,3 kg after the group secured funds to revive the mine.
Gold deliveries have been on the increase since the Government stepped in to ensure that all gold mined in the country is delivered to Fidelity Printers, which resumed gold refining in December last year since 2008.

Before resuming gold refining, all gold was being exported unrefined and this, among other things negatively affected the local jewellery industry as it resorted to importing refined gold and silver.

With national deliveries surpassing 10 tonnes in 2012 and 2013, coupled with the resumption of refining, the refinery is expecting to seek re-admission to the London Bullion Market.
This will be on condition that all the gold being delivered through the formal channels is refined prior to export.