RCS - Oheneba Poku Fndtn. - AFRICA SETS GOLD STANDARDS FOR MINERAL SOURCING

African MineralsAnnouncement

25/11/2024 08:15

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RNS Number : 4849N  Oheneba Poku Foundation  25 November 2024

Africa Sets the Gold Standard: Responsible Mineral Sourcing Initiative for
Africa Launched at the Dubai Precious Metals Conference

 

Dubai, UAE | November 25, 2024. The Africa Minerals Strategy Group and
partners launched the Africa Responsible Mineral Sourcing Initiative (ARMSI)
on November 18, 2024, during the Africa Mining Workshop at the Dubai Precious
Metals Conference 2024. The initiative aims at building a responsible mineral
sourcing ecosystem in Africa. The launch of ARMSI marked a significant step
towards promoting transparency, compliance, traceability, accountability,
social responsibility and sustainability in Africa's minerals and mining
sector to ensure that Africa's mineral wealth contributes positively to the
continent's economic development and responsible minerals supply to
international markets.

 

The ARMSI launch event held at the JAFZA One Convention Centre in Dubai,
convened an influential gathering of stakeholders, including African Ministers
and officials responsible for minerals from Chad, Cote d'Ivoire, Ghana,
Guinea, Liberia, Malawi, Sierra Leone, South Sudan, Uganda, Central Banks,
financial institutions, mining companies, refineries, traders, investors,
civil society, and leaders from the global precious metals industry. Notable
participants included representatives from the Dubai Multi Commodities Centre
(DMCC), Organization for Economic Co-operation and Development (OECD), World
Gold Council, London Bullion Market Association (LBMA), and the U.S. State
Department, underscoring the global commitment to responsible mineral sourcing
in Africa.

 

The Africa Responsible Mineral Sourcing Initiative unites countries, industry
and civil society to build Africa's Responsible Mineral Sourcing Ecosystem
ensuring compliance to responsible sourcing guidelines and a commitment to
sustainability by putting in place standards and structures and building the
capacity of national authorities and stakeholders in the minerals sector
starting with the precious metals supply chain.

 

The ARMSI roadmap was unveiled, emphasizing the development of Africa
Responsible Mineral Sourcing Guidelines and a comprehensive Manual led by the
Africa Minerals Strategy Group (AMSG). As part of the roadmap, sub-regional
stakeholder engagement forums will be held across Africa to promote
responsible sourcing practices and gather insights from diverse stakeholders.
These initiatives are set to culminate in the launch of the Guidelines and
Manual in May 2025, marking a significant milestone in standardizing ethical
and sustainable mineral sourcing practices across the continent.

 

 

 

 

 

 

 

 

Countries, industry players, and civil society organizations are invited to
join this transformative membership-based initiative dedicated to fostering
responsible mineral sourcing and ethical mining practices across Africa in
alignment with international standards. ARMSI accommodates the diverse
stakeholders of the mineral value chain through four distinct membership
categories: Mining Members, encompassing large-scale and artisanal miners
engaged in mineral extraction; Refining and Trading Members, including
refiners, traders, and financial entities facilitating mineral processing and
trade; Manufacturing and Retail Members, comprising manufacturers,
wholesalers, and retailers of mineral-based products; and Civil Society and
Institutional Members, such as NGOs, advocacy groups, academic institutions,
and governmental bodies. This collaborative effort underscores a shared
commitment to ethical practices, responsible sourcing, and sustainable
development within Africa's mineral sector.

 

 

The first secured physical delivery of responsibly sourced Gold and Silver
from Africa to the United Arab Emirates under the Africa Responsible Mineral
Sourcing Initiative will be completed by February 2025. This first secured
physical delivery will be executed by the Africa Minerals and Metals Exchange
(AMME), an initiative of the Africa Minerals Strategy Group and will be done
with selected companies who are members of ARMSI and AMME.

 

 

Supporting Quotes:

 

"The Africa Responsible Mineral Sourcing Initiative (ARMSI) is about
redefining Africa's role in the global precious metals and critical minerals
industry by ensuring that artisanal and small-scale miners-often the backbone
of mineral production-become central players in responsible, ethical and
sustainable mining practices. The goal of ARMSI, an initiative of the Africa
Minerals Strategy Group is to create a central gateway for responsibly sourced
and ethically mined minerals from Africa to the global markets. ARMSI will
build Africa's Responsible Mineral Sourcing Ecosystem shifting away from Raw
Material Exportation towards Sustainable Value-added industry development to
foster local employment, stimulate economic growth and secure a competitive
position for African Minerals in the Global Market." - H.E Moses Micheal
Engadu, Secretary-General, Africa Minerals Strategy Group

 

"Africa is strengthening her comparative advantage of being naturally endowed
for its own beneficiation. Our main objective is to strike a balance between
foreign investment and national interests because our people must be
centralized in the Mineral value. I thank the Africa Minerals Strategy Group
for leading this vision through the launch of the Africa Responsible Mineral
Sourcing Initiative. I reaffirm Uganda's commitment to fostering responsible
and sustainable artisanal gold mining and trade." - H.E Phiona Nyamutoro,
Minister of State of Mineral Development of the Republic of Uganda

 

The Africa Responsible Mineral Sourcing Initiative (ARMSI) offers us the
opportunity to promote local development through artisanal mining activities.
These include adopting policies that support community-driven artisanal
exploitation, and fostering South-South partnerships to facilitate the
exchange of knowledge and best practices. Additionally, I recommend organizing
dedicated forums and conferences to spotlight and address the challenges and
opportunities within artisanal mining. These initiatives will help strengthen
the role of artisanal mining in driving sustainable local development while
aligning with ARMSI's vision for transparency and accountability in Africa's
mining sector." - H.E Oumar Djime Moussa, Deputy Minister of Petroleum, Mines
and Geology of the Republic of Chad

"Through the Africa Responsible Mineral Sourcing Initiative (ARMSI), we aim to
strengthen compliance and transparency across the gold supply chain. I call
upon all stakeholders-both locally and internationally-to ensure that gold
sourced from artisanal and small-scale miners adheres to the required
licenses, permits, and chain of custody systems. Let us work together under
ARMSI to champion accountability, sustainability, and ethical practices in the
precious metals sector." - H.E Fahnseth Buggie Mulbah, Deputy Minister of
Mines and Energy of the Republic of Liberia

 

Focus on Artisanal and Small-Scale Gold Mining at the Africa Mining Workshop

A major highlight of the discussions was the emphasis on sourcing gold from
artisanal and small-scale gold miners (ASGM). Led by the Africa Minerals
Strategy Group, the Africa Mining Workshop provided a valuable platform to
gain practical insights into gold mining sourcing practices and regulatory
frameworks in African Countries. Participants exchanged knowledge on
challenges and opportunities, emphasizing the importance of formalizing and
integrating ASGM into responsible sourcing ecosystems to ensure compliance,
sustainability, and improved livelihoods for miners. The Africa Mining
Workshop also fostered robust discussions on critical issues, including:

·      Practical approaches to sourcing gold responsibly from ASGM
communities.

·      Addressing risks associated with conflict-affected areas.

·      Bridging gaps in regulatory frameworks across African nations.

·      Showcasing best practices that demonstrate how responsible
sourcing can enhance sustainability and attract investment.

 

A Call for Responsible Mineral Sourcing and Global Collaboration

 

Africa's vast mineral wealth has the potential to drive economic growth and
the green energy transition. However, challenges such as conflict,
environmental degradation, and non-compliance with global sourcing regulations
persist.

The Africa Responsible Mineral Sourcing Initiative was unveiled as a
collaborative framework to:

·      Support African countries in adhering to responsible sourcing
guidelines issued by OECD, LBMA, UAE and other regulators.

·      Strengthen anti-money laundering (AML) and counter-terrorism
financing (CTF) compliance measures across supply chains.

·      Leverage technology, capacity-building efforts, and strategic
partnerships to advance transparency, accountability, and sustainability in
the minerals sector.

 

Social media captured the energy of the event, with one notable post stating:

"Today's discussions at the Africa Mining Workshop emphasized the need to
formalize artisanal and small-scale gold mining practices to create a
sustainable and transparent future for Africa's precious metals industry. The
launch of ARMSI signals the beginning of this transformative journey."

 

Media contacts

Patrick Mulindwa: patrick.mulindwa@africamineralsgroup.org | +256 755 140
292

Fred Kyei Sapong: fred@ohenebapokufoundation.org  | +233 244 239 026

Prince Abed Ollennu: prince@africametalsexchange.com | +1 636 378 0589

About the Africa Minerals Strategy Group (AMSG)

The Africa Minerals Strategy Group was established by African Governments to
facilitate International cooperation in the minerals and mining sector among
member African nations with the goal of promoting exploration, extraction,
production, local beneficiation and commercialization to ensure a sustainable,
transparent and secure supply of important minerals while protecting our
environment and improving the quality of life of our population, to spur
socio-economic transformation and prosperity of Africa, and support the energy
transition. The 16 AMSG Founding Member Nations include Botswana, Burundi,
Chad, Democratic Republic of Congo, Guinea-Bissau, Liberia, Malawi, Nigeria,
Sierra Leone, Somalia, South Africa, South Sudan, Tanzania, Uganda, Zambia and
Zimbabwe.

Find out more at https://africamineralsgroup.org/
(https://africamineralsgroup.org/)

 

About the Africa Responsible Mineral Sourcing Initiative (ARMSI)

The Africa Responsible Mineral Sourcing Initiative (ARMSI) is an Africa
Minerals Strategy Group led collaborative effort supported by the Oheneba Poku
Foundation dedicated to building a responsible mineral sourcing ecosystem in
Africa through collaboration, technology, and capacity-building efforts that
ensure transparency, traceability, accountability, social responsibility and
sustainability in Africa's minerals and mining sector.

Find out more at https://armisourcing.org/ (https://armisourcing.org/)

 

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