FPR seeks US$50 million from the 2022 budget

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FIDELITY Printers and Refiners (FPR), the sole buyer and exporter of refined gold in Zimbabwe, is seeking an allocation of US$50 million under the 2022 National Budget, for its Gold Mobilisation Initiative Fund (GMIF).
FPR has so far expended at least $1,7 billion in working capital loans under the GMIF to small-scale miners to enhance gold production, productivity, and deliveries.

FPR acting general manager Peter Magaramombe, told the Mines and Mining Development parliamentary committee this week that availing working capital loans to gold miners would be the first step towards achieving the 100 tonnes of gold target by 2023.