Page 13 - Bullion World Issue 11 March 2022_Neat

Bullion World | Issue 11 | March 2022

this should be corrected. Artisanal an initiative that we put in place. with traditional artisanal Gold. So
Gold, which is conflict-free is it is also launched. So that means
available in many areas; only a few We are trying to relaunch an that we are just going to have
areas where activities of armed initiative that we called ITOA a very strong system regarding
groups are identified produce what (Initiative for the traceability of artisanal Gold. We will implement
can be called conflict gold. So, you artisanal Gold). We are working with that initiative with the American
can easily secure Gold. We use the a global community, an American NGO called Global communities.
certification mechanism. When you NGO that is accompanying us to We have identified some pilot mine
talk about responsible sourcing, we put in place that initiative to put sites. It means that we've got proof
have measures in place; we have the traceability of Gold. We do container envelopes that you will
legal procedures for selling Gold, have big measures from our mine put in the mine site as soon as Gold
CEEC is the regulatory body for sights. We first need to make sure is mined. It is put in the envelope
non-ferrous metals. But there are that the mine site is secure and and then it moves from one player
armed groups, terrorists who come there is no conflict. There is no to another and up to the way it
and smuggle Gold and sell it to child labour. There are no issues gets to be rexported and then to
other countries. of Human Rights or whatever. And the refinery. We have different
then we put it in place, making sure containers that we are using so that
What is new in the gold sector that it moves out of our mine site we can follow all the way up to the
and what are the new reforms? to the export until we get it into the exit point. We are now having two
Since the biggest challenge is dore. But we understand that there refineries getting implemented.
artisanal mining, almost 80% to is a lot of smuggling because we
90% of the goad is going out on don't have refineries here. Now, I want to ask about the Great
smuggling. We are trying, first the government is working on Lakes region. What is the update
of all, to put it in place robust two refineries that are going to be on the duty harmonization side
internal controls, in spite of the implemented and we do believe of the policy and any changes in
challenge of porous borders. that we may be getting more gold the duty export tax, which has
As mentioned above, , we are driving to the refineries. We are happened recently?
dealing ICGLR (16:27) certification going to combat smuggling through I think it is still a challenge to
mechanism, which involves three those boundaries because most organize a good implementation
types of minerals: tin, tantalum and of the fundraising was rocking the of the ICGLR. It looks as if the
tungsten, also known as the 3 Ts neighbouring countries. Still, this other countries taking profit from
and Gold. If we have succeeded in time, we are preparing our refinery DRC minerals do not interest in
3 Ts, we still have challenges with which two of them are almost doing so. In the DRC, though we
Gold because it is being mined finishing. have not succeeded in addressing
almost everywhere and smuggled all the challenges, we are the
to neighboring countries. And now Then we have a local initiative, leading country for ICGLR tools
we are putting it in place. There is which is an initiative that deals implementation. The problem that
we have is the multiplicity of miners
and the complexity of the artisanal
mining activities. We bear the cost
of mining. But others who don't
have mine do not bear that. For
them, there is no taxation. We can
harmonize, but what about them?
So, we must deal with these issues
before coming to harmonising the
taxes. I know the ICGLR is working
on it. They will organize meetings
in that regard, but what will be best
for us if they do something about
smuggling.

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