Partners aim to improve Africa's gold traceability

Agreement between Minexx and NGO covers community development initiatives
Partners aim to improve Africa's gold traceability Partners aim to improve Africa's gold traceability Partners aim to improve Africa's gold traceability Partners aim to improve Africa's gold traceability Partners aim to improve Africa's gold traceability

Partners say it will cover collaborative projects and community development initiatives

Traceability platform specialists Minexx has agreed on a memorandum of understanding (MoU) with Solidaridad, an international civil society organisation, to improve the gold supply chain in Africa.

The companies said that the MoU would cover projects related to traceability and how to link it to community development on future joint initiatives.

Specifically, it would increase transparency in artisanal and small-scale mining (ASM), which the companies said is linked to "money laundering and criminality."

They explained it is "extremely important" to combine transparency with traceability, particularly with a mineral such as gold where there are "no physical properties to distinguish one type from the other."

The lack of transparency, they said, is one of the main reasons gold has such a "dubious reputation on the international market."

Marcus Scaramanga, chief executive officer and co-founder of Minexx, said the MoU's "geographical reach" would be crucial as it looks to expand its platform.

Additionally, Scaramanga said the agreement was possible because of "an alignment of mission" about making mineral supply chains "work better, smarter and fairer."

Isaac Gyamfi, Regional Director of Solidaridad West Africa, said: "Solidaridad has in the past years been deploying digital technology in its work with farmers globally.

"This partnership with Minexx has given us the opportunity to deploy technology to ensure responsible mineral supply chains in Africa. "