A Ghanaian gold export company, Goldridge Ghana Limited, has signed an agreement with the Ghana National Association of Small Scale Miners (GNASSM) to send gold mined under the sector to the international market.
Under the agreement, and in collaboration with local and international experts, Goldridge and GNASSM will provide support to small-scale gold miners to formalize their activities and adopt internationally recognized responsible mining practices.
Goldridge will also provide equipment for miners to operate in an environmentally-friendly way while increasing their productivity and production volumes, and facilitating their access to finance.
The agreement, which was signed on 5th March 2021, was disclosed in a press statement by the President of GNASSM, Mr. Akufo and copied to this portal.
GNASSM members who decide to take advantage of the program under the Agreement will, in return, channel their output to the Goldridge refinery, which will then export it to legal international markets.
Ghana has produced and exported gold for centuries. It is the largest gold producer in Africa and the seventh largest in the world (142 tons annual production in 2020).
Artisanal and small-scale mined gold accounts for an estimated 40 per cent of Ghana’s total gold production, 70 to 80 per cent of which is informal, or not produced to internationally- recognized responsible standards.
This means thousands of miners producing an estimated 45 tons of Ghana’s gold cannot access global markets and sell their gold at international market prices.
“Ghana has a population of hard-working and highly-skilled miners,” Mr. Akufo said.
“The GNASSM’s membership comprise close to 2,000 mining operations, involving an estimated 1.8 million individual miners in total.”
“They are all willing to further improve their practices so they can access international markets under fair conditions, and improve their working conditions and livelihood.”
“But they lack access to training, equipment and finance and this is what we are going to provide them through the Program. GNASSM is thrilled to partner with Goldridge,” he added.
Goldridge is already actively involved in Small-Scale Gold Mining (SSGM) sourcing from more than 5 mines in Western region, and has been named ‘Ambassador for zero mercury in gold mining in Ghana and Across Africa.
Dr. Sledge Duodu, who is Founder and CEO of Goldridge, and highly respected by miners, governments and Ghanaian institutions said, “All Ghana gold miners deserve to be recognized and receive fair pay”
“I have made it Goldridge’s mission to unlock the full value of our gold sector through driving formalization of mining operations, responsible practices, propelling in-country refining and accessing global markets.”
“The signature of this agreement paves the way to the realization of this important transformation.
He brings leadership, the vision to transform the sector and the means to make it happen and already many non-members are looking to join the Association to enroll in the Program.
He disclosed that together with GNASSM, they have set up the perfect partnership where the Association brings the miners and Goldridge brings the means to set up the entire value chain.
A key component of the Program, he said, is the refining in-country of the gold produced by the miners.
“To this end, Goldridge is setting up the first wholly-owned Ghanaian refinery.”
“A state-of-the-art plant, due to start operation in the first half of 2022 to meet international environmental refining standards, and produce finished products of 999.9 purity.”
“Goldridge is taking a lead role in Ghana’s transition from raw gold producer to refined gold producer,” says Dr Sledge. “This is a key component for the country to fully benefit from its precious resources.”
He stated that underpinning the Agreement and the Program is a traceability and due diligence system from mine site to global market that the partners are developing according to international standards, and with which the miners and Goldridge will have to comply.
He said, “Each and every single one of the Program’s components is crucial to its success: formalization; responsible mining practices; due diligence; traceability; in-country refining; and export to global markets, all up to internationally recognized standards.”
“If one component is missing or not up to standard, then the entire value chain cannot be recognized internationally and will fail, however when it all works, it will fully benefit gold miners and their communities.”
He indicated that the SSGM will become a significant contributor to Ghana’s socioeconomic development, and the country will reap the full value of its precious resources.
MyPublisher24.com
