Title: Primera Gold: A booming business in the purchase and export of gold in the DRC
Introduction :
In a context where the artisanal mining industry in the Democratic Republic of Congo (DRC) is often associated with fraud and smuggling, Primera Gold, a state-owned company, stands out for its remarkable performance in the purchase and export of ‘gold. With more than 3,000 kilos of gold purchased and exported during the second half of 2023, for a value of approximately 190 million USD, Primera Gold is showing impressive results. This success is due to the establishment of a banking system and a fierce fight against mining fraud. In this article, we will explore Primera Gold’s achievements and its drive to reach the ambitious goal of 1,000 kilos of gold per month.
A banked system to fight against mining fraud:
In a sector where gold smuggling is a major problem, Primera Gold has set up a banking system for its transactions. By requiring all traders working with the company to have bank accounts, Primera Gold achieves an impressive 95% banked payments rate, a rare feat in the gold industry. This approach contributes to the transparency of transactions and helps reduce fraud and smuggling.
Promising results and growing ambition:
Thanks to its actions against mining fraud and the banking of its transactions, Primera Gold has already purchased and exported more than 3 tons of gold since the beginning of the year, with exemplary transparency. However, the company does not intend to stop there. Its objective is to achieve the capacity to purchase and export 1,000 kilos of gold per month. This ambition demonstrates Primera Gold’s confidence in its ability to conduct a responsible and transparent gold business in the DRC.
The benefits of a transparent gold sector:
The success of Primera Gold is of great importance for the Congolese mining industry. By demonstrating that it is possible to operate legally and transparently in the gold business, Primera Gold is paving the way for other companies to follow suit. A transparent gold sector not only benefits the country’s economy, but also local communities who can benefit from fairer incomes and more sustainable development.
Conclusion :
Primera Gold positions itself as a major player in the artisanal mining industry in the DRC by advocating transparency and fighting against mining fraud. With its impressive track record in buying and exporting gold, the company is leading the way for a more responsible and transparent gold sector