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

DELAWARE, OH / ACCESSWIRE / November 27, 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.

About the Africa Minerals and Metals Exchange (AMME)
The Africa Minerals and Metals Exchange (AMME) is an initiative of the Africa Minerals Strategy Group. AMME aims to facilitate secure transactions, enhance market transparency, ensure traceability, compliance with regulatory standards and responsible sourcing of precious metals from Africa. The Goal of AMME is to enhance market liquidity, establish robust trading standards and foster trust among participants in the African precious metals market. Its objectives include establishing a secure mechanism for the delivery of gold and silver from Africa to mitigate risks associated with precious metal transactions; promoting trust and reliability among stakeholders involved in the trade of precious metals through secure, transparent and traceable transactions; and adhering to international standards for trading, delivery, and documentation.

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/

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/

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SOURCE: Africa Minerals and Metals Exchange