Janet Asuah’s Post

NEWSFLASH: I am pleased to report that the National Gold Purchase programme, which aims to increase our country’s reserves and boost the value of the naira, is making significant progress. Recently, I had the honor of presenting the latest gold bars to HE President Bola Ahmed Tinubu. The bars were sourced from artisanal and small gold miners and refined by an agency of our Ministry, the Solid Minerals Development Fund. They have met the London Bullion Market Association Good Delivery Standard and will soon be sold to the Central Bank of Nigeria to strengthen our foreign reserves. This marks the first commercial transaction under the National Gold Purchase Program (NGPP), which is a centralised offtake scheme supported by a decentralised aggregation and production network of artisanal and small-scale miners and cooperatives. Furthermore, I am proud to announce that this first commercial transaction has resulted in a substantial increase of over US$5 million in Nigeria's foreign reserves assets, the refinement of over 70 kilograms of gold to the London Bullion Market Good Delivery Standard, and the successful aggregation of locally mined gold, injecting around NGN6 billion into the rural economy. Dele Alake Minister of Solid Minerals #hammidbakare #OpeningMonologue #fypyou #News #GoldPurchase #tiktoknewsupdate #PresidentBolaAhmedTinubu #DeleAlake #RenewedHopePolicies #GreatnessIsComing

Although the year has been quiet due to government policies that has given us the chance to expand the scope of our offerings to better serve you. We anticipate that gold (#ASGM) trading and exports will increase as a result of the Bank of Ghana's apparent decision to withdraw from the Gold-for-Oil initiative. Experts predict #gold to continue its remarkable rise due to its endurance in the global market, which regrettably means that scammers will make more shady offers. Nevertheless, Phoaks Minerals Consult your assurance partner, is here to assist you in navigating the complexities of the business, from sourcing to export. ~Are you a new entrant needing guidance? ~Have you received an offer you need advice on? ~Do you need due diligence conducted on a supplier in and outside of Ghana? ~Did you know that you don't always need to take a plane to Ghana in order to obtain and export gold? Here at Phoaks, we collaborate with you to create a #sustainable gold supply chain while assisting you in reducing risks to ensure a viable business. Call/WhatsApp +233206228041 to discuss how we can personalise our solutions to your specific requirements. Ruth Cudjoe StoneX Group Inc. BloombergNEF LRQA - sustainability DMCC (Dubai Multi Commodities Centre) Djamel H. Anil Kansara Responsible Business Alliance Alliance for Responsible Mining (ARM)

🌍 Gold Trade in Uganda: A Tremendous Leap Forward! 🌍 Over the last three months, the gold trade in Uganda has seen remarkable growth and development. We're witnessing increased activity and confidence in the market, reflecting the country's rising prominence as a key player in the global gold industry. 💰 Fair Prices, Global Standards 💰 What sets Uganda apart? Our gold prices remain incredibly competitive compared to global standards, offering buyers a unique opportunity to invest in high-quality gold at fair rates. At Kivu Central Miners, we pride ourselves on delivering Africa's finest gold, sourced responsibly from the rich Kivu region of Congo. ✨ Why Buy from Ugandan Firms? ✨ Buying from Ugandan firms like ours ensures not only excellent value for money but also supports sustainable and ethical mining practices. Our commitment to quality, transparency, and customer satisfaction makes us the preferred choice for gold traders and investors looking to secure their future with confidence. Join the growing number of satisfied clients and experience the unmatched advantage of trading with Kivu Central Miners. #GoldTrade #UgandaGold #KivuCentralMiners #FairPrices #SustainableMining #AfricaGold

Tens of Billions of Dollars in Gold Flows Illegally out of Africa Each Year, a New Report Says Billons of dollars in gold is smuggled out of Africa each year and most of it ends up in the United Arab Emirates, where it is refined and sold to customers around the world, according to a report published Thursday. Over $30 billion worth of gold, or more than 435 metric tons, was smuggled out of the continent in 2022, according to the report published by Swissaid, an aid and development group based in Switzerland. The main destinations for African gold were the United Arab Emirates, Turkey and Switzerland. The report found that between 32% and 41% of gold produced in Africa was not declared. In 2022, Ghana was the largest gold producer in Africa, followed by Mali and South Africa, it said. Website (https://lnkd.in/eMXvqV9H) | Facebook (https://bit.ly/capital_fb) | X (https://bit.ly/capital_X) | TikTok (https://lnkd.in/edEpbkiY) | Instagram (https://lnkd.in/ePSBWHnc) | Linkedin (https://bit.ly/Capital_In) | Youtube (https://bit.ly/capital_yt)

Top 5 African countries with the largest gold reserves, along with their estimated gold reserves in metric tons, are: 1. South Africa🇿🇦 - Estimated gold reserves: 6,000 metric tons 2. Ghana🇬🇭- Estimated gold reserves: 1,300 metric tons 3. Tanzania🇹🇿 - Estimated gold reserves: 1,200 metric tons 4. Mali🇲🇱 - Estimated gold reserves: 700 metric tons 5. Burkina Faso🇧🇫 - Estimated gold reserves: 400 metric tons 📷: Gold Reserve in South Africa🇿🇦

Top 5 African countries with the largest gold reserves, along with their estimated gold reserves in metric tons, are: 1. South Africa🇿🇦 - Estimated gold reserves: 6,000 metric tons 2. Ghana🇬🇭- Estimated gold reserves: 1,300 metric tons 3. Tanzania🇹🇿 - Estimated gold reserves: 1,200 metric tons 4. Mali🇲🇱 - Estimated gold reserves: 700 metric tons 5. Burkina Faso🇧🇫 - Estimated gold reserves: 400 metric tons 📷: Gold Reserve in South Africa🇿🇦

Ghana🇬🇭 has opened its first commercial gold refinery in Accra, the capital, as part of an effort by Africa’s leading gold producer to add value and earn more from the precious metal, which has been mined for centuries. The Royal Ghana Gold Refinery, with capacity to process 400 kilogrammes (kg) of gold per day, will source gold dore from small-scale and artisanal miners before acquiring licences to process gold from large-scale miners. With the ability to refine our gold, we will be able to sell it at the appropriate price, enabling us to retain its economic value within our borders while creating numerous jobs for the youth,” Ghana’s gold from licensed producers is exported in raw form while a sizable amount of output from unregulated artisanal miners, locally called galamsey, is smuggled outside the country. The refinery will employ 80-120 people directly and create 500 indirect jobs, said Mahamadu Bawumia, the Vice President of Ghana. Ghana retained its spot as Africa’s biggest gold producer last year, as increased production from small-scale and artisanal miners pushed output to 4.03 million ounces. The West African nation, which is also the world’s number two cocoa producer, is on track to beat its 2024 gold output target, with production seen between 4.3 million and 4.5 million ounces. The Bank of Ghana launched a gold purchase programme in 2021 to build reserves through domestic purchases and cushion the cedi currency. ••• [Dateline]