Aurex doubles exports

 Aurex doubles exports
Published: 06 September 2018
AUREX Holdings (Aurex) has doubled its jewellery exports after inking international marketing agreements with companies such as Suzan General Trading (Suzan), officials say.

This also comes as the firm's sister company Fidelity Printers and Refiners (FPR)'s gold production has increased at the back of almost similar partnerships that have had a significant impact on deliveries by small-scale producers nationally.

"…volume exports have been realised through Suzan… thus increasing the company's capacity utilisation and supporting the country's exports revenue generation," Pasipaipa Munhumutema, Aurex's general manager said, adding "the company has also made direct exports in its own name to identified jewellery distributors focussing mainly on chains and bangles".

"Our products are currently going into the broader international market through Dubai (which) has grown to be a big world centre for the sourcing of gold jewellery by both individuals and retailers. Zimbabwe is now registered as a source of high quality genuine jewellery..," he said.

Having announced early last year that Aurex was keen on growing its international market, Munhumutema says the company has been exporting nearly 200 kilogrammes of finished products and jewellery since November 2017.

Apart from encouragement from Winston Chitando's Mines ministry and his Industry counterparts, the Ruwa-based firm says the Reserve Bank of Zimbabwe's monetary and exchange control policies have equally facilitated growth of our manufacturing with resultant benefits to the country.

"Over the past six months, employment numbers have gone up as the company seeks to meet customer needs and competitive production timelines. The staff complement has grown from around 90 to 145," Munhumutema said.

"As business grows, the company is focussing on human capital development. It has recruited certificate and diploma holders… for training in this specialised industry," he said, adding Aurex has also "reengaged some of its skilled former employees to… to meet the growing orders".

As the company continues to receive enquiries about its products and services, "all clients commence with trial orders as they get a feel of sourcing jewellery from Zimbabwe, which is viewed as a new entrant into the field".

Having signed a memorandum of understanding with the Zimbabwe Consolidated Diamond Company in recent years, Aurex says its diamond venture and plans are promising.

"…this year has been a promising one regarding the growth of our diamond cutting and polishing operations. The company has been able to win a number of tenders… conducted by the Minerals Marketing Corporation of Zimbabwe," Munhumutema said.

On the outlook, Aurex says the future "looks very promising" owing to the business tempo set by authorities and the basic pointers such as the steady supply or "availability of refined gold to meet export orders".

According to FPR filings, small-scale miners have contributed 13,5 tonnes or 65 percent of national output so far, as Zimbabwe hopes or aims for a 30-tonne haul this year.

- fingaz
Tags: Aurex,


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