Gold buying and mineral trading

The desk buys gold from producers under permit for delivery to Fidelity Gold Refinery, and brokers lithium, lithium sulphate and cobalt. This is the core of the business. The registered Major Object of the company is commodity trading and gold transactions.

What the desk does

The desk does two distinct things. It buys gold from producers under permit and delivers it to the refinery. Separately, it brokers battery minerals, which it buys from a producer and resells. Both routes out of the country are statutory. Gold leaves through Fidelity Gold Refinery, and the other minerals leave through the Minerals Marketing Corporation of Zimbabwe.

Mineral	What the company does
Lithium	Bought and resold. The company also mines lithium; that side is on the mining page.
Lithium sulphate	Bought and resold. It is also produced on the mining side.
Cobalt	Bought and resold only.

How gold buying runs

Gold buying under a Fidelity Gold Refinery permit runs the same way for every permit holder.

1. You bring metal to a buying centre.
2. The gold is weighed and assayed openly, and its purity decides the price.
3. You are identified and recorded, as a regulated trade requires.
4. The metal is consolidated and delivered to Fidelity Gold Refinery, against the commitment the permit carries.

The partner’s share

You take a share of the margin between purchase and delivery. That is what this division offers a partner. Both halves of the desk are working-capital businesses, because metal and material are paid for before they are delivered and settled. The desk needs float, and the operation absorbs it as it stands.