Title: “The traceability of financial flows in artisanal gold mining in the DRC: a historic breakthrough”
Introduction :
In a recent press release, Primera Gold DRC SA proudly announced the establishment of a traceability system for financial flows in artisanal gold mining in the Democratic Republic of Congo (DRC). This initiative, which guarantees the transparency of payments and fights against fraud, represents a major step forward in the Congolese gold sector. In this article, we will explore the details of this implementation and the implications it may have on the Congolese mining industry.
The end of non-transparency in artisanal gold exports:
Before the intervention of Primera Gold DRC SA, artisanal gold mining in the DRC was marred by a lack of transparency in exports. However, thanks to the efforts of the Primera Gold team, 95% of payments are now made through Congolese banking institutions. This is a first in the country and helps give confidence to end consumers of exported Congolese gold. More than 25,000 diggers work in 18 cooperatives and the production chain also includes 250 traders and 10 approved buyers who act on behalf of Primera Gold.
Impressive figures:
The Managing Director of Primera Gold DRC SA, Joseph M. Kazibaziba, welcomes this development and emphasizes that it resolves a problem that has persisted for a long time. Before Primera Gold arrived in the DRC, the South Kivu province exported an average of 25 kg of gold per year, worth $1.5 million. Nationwide, the average was 100 kg exported per year, worth $6 million. Since January until September 30, 2023, Primera Gold DRC SA has exported more than 3 to 5 tons of gold, worth approximately $210 million. These figures demonstrate the growth of the Congolese artisanal gold industry and the desire of President Félix Tshisekedi to benefit the Congolese from the country’s natural resources.
The future of artisanal gold mining in the DRC:
The results obtained through the traceability of financial flows in artisanal gold mining in the DRC are encouraging and open up promising prospects for the future of the sector. It is important to emphasize that this initiative contributes to combating fraud which until now benefited neighboring countries. Primera Gold DRC SA clearly displays its objective: to capture 100% of the artisanal gold extracted in the DRC which still escapes the official circuit. To achieve this objective, it is essential to count on the commitment and patriotism of all stakeholders who are still hesitant to embrace President Tshisekedi’s vision of promoting mining craftsmanship and fully benefiting from the country’s natural resources..
Conclusion :
The establishment of traceability of financial flows in artisanal gold mining in the DRC marks a historic step for the Congolese gold industry. Thanks to the efforts of Primera Gold DRC SA, payments are now made transparently through Congolese banking institutions, which strengthens the confidence of end consumers of exported Congolese gold. The impressive figures for gold exports since the intervention of Primera Gold testify to the growth of the artisanal gold industry and the vision of President Félix Tshisekedi to benefit the Congolese from the country’s natural wealth. With encouraging results, the future of artisanal gold mining in the DRC looks promising under the leadership of Primera Gold and all the players involved in promoting this industry.