UAE Promises Open Markets for African Gold, Truer Price Discovery

"More market(s) for East Africa’s gold"

Intro: This is extremely important, not so much in the size of the players involved, but in the proof of concept being applied to further weaken the USD hold on global trade. There will be a full analysis on this in context of China’s belt and road initiative, BRICS, and Zoltan Pozsar’s ( and our) comment on payment chains and supply chains. For now… Here is the news

• H/t Goldfix Founder

  Lordhoho

UAE promises more market for East Africa’s gold

via New Vision

The UN Global Compact is the world’s largest corporate sustainability initiative that supports businesses and firms worldwide to adopt sustainable and socially responsible policies.

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Speaking to the media, Blaze Metals Chief Executive Officer, Prince Oheneba Kofi Poku promised to invest in changing the narrative, in the entire mineral value chain for East Africa Minerals to trade easily on the world’s precious metal markets.

Blaze is a UAE metals and mining firm based in Dubai that recently attained UN Global compact participatory status for the project.

The company also seeks to help East African artisanal and small-scale miners who dominate the sector to formalize their businesses, a development that will enhance mineral traceability and certification scheme and reduce mineral smuggling and illegal exploitation of tin, tungsten, tantalum, and gold.

Prince Poku added that they will also actively engage in supporting and advancing the Sustainable Development Goals (SDGs), particularly in areas where the company’s operations can have the most significant impact.

The UAE is the fourth largest global investor in Africa behind China, Europe, and the US.

This will reduce environmental degradation practices through land restoration measures, support artisanal and small miners to acquire skills in safe mining practices, environmentally friendly mining techniques, access to efficient tools, proper health and safety tools, and supporting community projects such as education and health care to reduce the risks associated with mining

“We are committed to creating long-term value for our customers and industry stakeholders while ensuring that our operations contribute positively to the environment and the communities where we operate. This membership reflects our core values and enhances our ability to contribute to global sustainability efforts,” Poku said.

This comes at a time when many commodity economies, currently in a tight corner, need swift policy shifts to scale up action to fast-track the transition towards a nature-positive future. This means global consumers are increasingly concerned about the environmental impact of the products they buy.

analysis in a day or two.