RCS - Africa Minerals & ME - AFRICA MINERALS AND METALS EXCHANGE PROGRAMME

African MineralsAnnouncement

04/12/2024 08:45

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RNS Number : 7558O  Africa Minerals And Metals Exchange  04 December 2024

AFRICA MINERALS AND METALS EXCHANGE ANNOUNCES PARTICIPATION OF RUBIX ASSETS
AND BLACK EARTH TRADING IN LANDMARK FIRST DELIVERY PROGRAM OF RESPONSIBLY
SOURCED GOLD AND SILVER

The Africa Minerals and Metals Exchange (AMME), an initiative of the Africa
Minerals Strategy Group (AMSG), is pleased to announce the participation of
Rubix Assets and Black Earth Trading in its inaugural First Delivery Program
of Responsibly Sourced Gold and Silver. This transformative initiative
underscores AMME's commitment to fostering ethical sourcing, transparency, and
regulatory compliance in Africa's precious metals sector.

The program, scheduled to commence in 2025, will facilitate the secured
delivery of 5 tonnes of gold and 8 tonnes of silver annually to the United
Arab Emirates (UAE). This milestone represents a significant step forward in
positioning Africa as a trusted supplier of responsibly sourced precious
metals to the global market.

Key Highlights of the Program:

·      Volume: 5 tonnes of gold and 8 tonnes of silver annually

·      Destination: United Arab Emirates (UAE)

·      Participants: IEG AFRICA DMCC, PNK COMMODITIES LLC FZ, BLAZE
COMMERCIAL BROKERS LLC

ABOUT AFRICA MINERALS STRATEGY GROUP

The Africa Minerals Strategy Group (AMSG) is a coalition of 16 founding member
nations united to promote sustainable development of Africa's mineral wealth.
Through its work, AMSG seeks to enhance responsible mineral exploration,
production, and local value addition while fostering international cooperation
and environmental stewardship. As the driving force behind AMME, AMSG plays a
pivotal role in shaping policies and frameworks that align Africa's mineral
trade with global best practices.

About AMME and AMSG

The Africa Minerals and Metals Exchange (AMME) operates under the Africa
Minerals Strategy Group and serves as a platform for secure transactions,
enhancing traceability, compliance, and market transparency in the trade of
precious metals from Africa. AMME's services include issuing physically
delivered spot, futures, and options contracts, supported by a dedicated
clearing house.

Significance of the Program

This initiative highlights Africa's leadership in ethical sourcing by:

1.   Enhancing traceability and adherence to international standards.

2.   Expanding market access for responsibly sourced African minerals.

3.   Reinforcing Africa's reputation as a reliable and trusted supplier in
the global precious metals industry.

Rubix Assets and Black Earth Trading have confirmed their commitment to
supporting this groundbreaking initiative by aligning with AMME's stringent
responsible sourcing standards, developed in collaboration with the Africa
Responsible Mineral Sourcing Initiative (ARMSI).

This announcement marks a new era for Africa's mineral trade, paving the way
for transparent and sustainable supply chains that meet the highest global
standards.

For further information, please contact:

Patrick Mulindwa

Media Relations, Africa Minerals and Metals Exchange

Email: patrick@africametalsexchange.com | Phone: +256 755 140 292

Visit: https://africamineralsgroup.org/ (https://africamineralsgroup.org/)

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