Mojubaolu Olufunke Okome’s Post

There are one million artisanal miners in Burkina Faso, mostly #gold miners. The large majority of the sector is informal, with a variety of issues that range from gender inequality, #mercury usage, vulnerability to corrupt actors and vulnerability to conflict. The country is a major gold producer, with much of the gold smuggled by intermediates out of the country. Lack of #traceability sustains smuggling. A tragedy at a mine site in 2022 killed 59 people. Clear laws that deem #asm legal and that differentiate it from LSM are needed. Formalization, delivering stable predictable business relatiinships that enhance the dignity and productivity of work while catalyzing sustainable development, is a massive opportunity. Simply banning exports doesn’t support development, it only encourages continued smuggling. The country has significant conflict challenges, Islamic insurgents as well as a Wagner Group contingent that arrived in January. Conflict of course gets in the way of formalization, and bad actors can also impose taxes of sorts on artisanal mining as a source of funding. Recognizing the significant challenges in the country, there may be areas where formalization is practical and can deliver significant social impacts, but this is only true if legal frameworks support the facts on the ground, not if coercive approaches like export bans are in place. #sustainabledevelopment #conflict #humanrights #mining https://lnkd.in/gW-V867b

𝐅𝐨𝐜𝐮𝐬 𝐌𝐢𝐧𝐞𝐬 | 𝐌𝐢𝐧𝐢𝐧𝐠 𝐒𝐭𝐚𝐭𝐬: 𝐓𝐨𝐩 𝐅𝐢𝐯𝐞 𝐝𝐞𝐬𝐭𝐢𝐧𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐈𝐯𝐨𝐫𝐢𝐚𝐧 𝐑𝐚𝐰 𝐆𝐨𝐥𝐝 🚀 Exciting insights! Our latest research reveals that Switzerland is the top destination for Ivorian raw gold, accounting for nearly 70% of exports. 🇨🇭 Here's the breakdown: 1. Switzerland: 68.6%🇨🇭 2. South Africa: 18.8% 🇿🇦 3. Australia: 10.2% 🇦🇺 4. France: 2.3% 🇫🇷 5. United Arab Emirates: 0.1% 🇦🇪 Reminder: The value of gold exports reached 1,427 billion XOF in 2023—a remarkable 126% increase! This represents 12% of total exports. Stay ahead in the industry with our comprehensive analysis. 📊 🔍 Source: Statistical Yearbook of Ivorian Customs. #FocusMines #MiningTrends #Mining #Exports #Mines #Gold #GoldTrade #MarketInsights #IvoryCoast #CôtedIvoire

The Government of the Democratic Republic of Congo is in the process of acquiring the United Arab Emirates' 55% stake in Primera Gold, a joint venture resulting from a partnership aimed at curbing gold smuggling in the DRC. By acquiring 100% of Primera Gold's shares, the Congolese government aims to refocus the agreement on the country's interests, thereby strengthening its control of the artisanal gold sector to the benefit of local operators and the nation. In 2023, the Democratic Republic of Congo saw a spectacular increase in unrefined gold exports, reaching 182,754 oz compared with 1,490 oz in 2022 thanks to Primera Gold DRC. With the ambition of surpassing industrial gold exports, which stood at 1,034,938 oz in 2023, Primera Gold DRC forecasts revenues of $1.51 billion from 846,575 oz of gold in 2024 and $2.26 billion from 1,270,000 oz of gold in 2025, underlining the growing importance of artisanal gold in the DRC's economy. For more insights on the DRC mining space, have a look at the latest release of our newsletter: https://lnkd.in/e2Py6XFs

This must be the largest Gold deposits discovered, Africa is the best source of precious minerals .

✨🌍 Gold remains one of the rarest elements on Earth, comprising only about 0.001 to 0.006 parts per million of the earth's crust. Despite its scarcity, the quest for gold continues, but the pace of discovering large deposits has slowed significantly. As we explore the changing dynamics of global gold production, one wonders: are we nearing the peak of gold extraction? 📈Consider the shifting sands of gold mining: South Africa, once the world's gold powerhouse with over 1,000 tonnes produced in 1970, has seen a dramatic decline, dropping out of the top 10 producers last year. Meanwhile, new players like Uzbekistan have entered the scene, and Brazil has climbed the ranks. Amid these changes, Ghana remains the only African nation in the top 10, highlighting its enduring role in the gold industry. The relentless pursuit of this precious metal illuminates not just economic power, but also technological advancements in mining across different continents.💰 #Gold #GoldProduction #EconomicImpact #MiningTechnology #GlobalEconomy #GhanaGold #WorldVisualized #VisualData #VisualInsights Source: Forbes.com

Why do we keep doing this to ourselves? There are 2 refineries practically on their knees because the government lacks the will to implement a local content policy but yeah let's welcome the LBMA to establish another one. Sure Ghana is ripe for the LBMA's drive to encourage ASM sourcing by GDL but nothing will come out of it if we don't tackle the first things first. 1. Can we first encourage our refineries to meet the Refining, Assay and Hallmarking standards by the Ghana Standards Authority ? 2. Scale up the Gold Kaccha and deal with mercury use 3.Deal with formalization of our ASM and work on traceability 4. How can we get the Licensed Gold Exporters/Aggregators to meet the ASM Framework being developed by the Responsible Business Alliance (RMI) once it's ready? Anil Kansara Dr Theo Acheampong #ASM

A new study by SWISSAID explores #gold smuggling in Africa, including how EITI data highlights artisanal and small-scale mining issues and discrepancies in export data 👉 https://lnkd.in/exd5p79U More about EITI's role in improving #ASM transparency ➡️ https://lnkd.in/eXXhSGCz

Gold Refineries in Tanzania: Current Status and Future Demand. #tanztrust #mining #gold #tanzania Tanzania is one of Africa's leading gold producers, with the precious metal being a major contributor to the country’s economy. The nation has several gold refineries that play a crucial role in adding value to the raw gold extracted from Tanzanian mines before it reaches global markets. More from the Tanz Trust Article: https://lnkd.in/dB4VYc8w #goldmining #miningindustry

US look at African mineral sector to quench their thirst of critical minerals: The United States Institute of Peace (USIP), an American federal institution tasked with promoting conflict resolution and prevention worldwide, published a study conducted by a group of experts with knowledge of #Africa mining policies to explore the role that United States could play in Africa to diversify their critical mineral supply chains and contribute at the same time to drive economic development and strengthen peace and security on the African continent. Read more here:https://lnkd.in/dEr8wYYh