June 28, 2018
Since October 2016, under the Gold Development Initiative Fund, Fidelity Printers and Refiners (FPR) has been supporting gold mining operations with focused and customized financial products that keep mining business moving forward. On the 15th of June, 2018, a wet pan milling plant under CSK Resources was commissioned. The Company which is a beneficiary of the fund, contracted Sheafta Mining to construct the Wet Pan Milling plant at Maldon 67 mine in Chakari about 30 kms from Kadoma.
In the same area, FPR has also given 10 miners loan facilities to procure a diesel powered compressor with accessories, diesel generator, Ione tonne ore hoist and a 7.50 Hp submersible pump. Over and above the equipment they will also receive working capital to fund the day to day operations at their mines. The number of miners who have benefitted is expected to rise based on performance of the current group.
Speaking to the miners during the commissioning event, Mr Matthew Chidavaenzi, Head of Gold Development Initiative Fund, encouraged miners to perform in order to be able to repay the loans that they had benefitted from FPR. Failure to do so, miners would risk losing their equipment and having legal loan recovery processes being done.
The Gold Development Initiative Fund intends to aggressively grow market share in the gold mining industry and will focus on building profitable, market oriented and cost-effective products that add value and benefits to the gold producers. Therefore, no matter where the mine is located, or how many ounces they mine, FPR is working towards providing one stop financial services to the gold mining industry, expanding financial inclusion in Zimbabwe and promoting self-sustaining and profitable mining.