Finance Minister Mthuli Ncube yesterday conceded that gold production had actually increased but it is not finding its way to Fidelity Printers.

“The gold price has gone up because that is a refuge point when in times of crisis because of the COVID-19 crisis, but the deliveries at Fidelity have dropped and that has to do with various things like matsotsi who are taking gold out and all manner of things,” he told the Senate.

“We are dealing with them, but we also dealt with the other thing which was a retention issue. We changed retention ratio from 45:55 to 70:30 in favour of the miner. So at least we have done our part as Government.

“We still have to deal with the illicit side. So when we say gold output has gone down, it is not really correct. Technically, in a sense, it is about official deliveries to Fidelity but the actual gold output out there has gone up. We know that only that pane matsotsi, otsotsi bayakhupha igolide leliyana. That is our problem, but the future is bright with the mining sector.”