on AFRICA MINERALS AND METALS EXCHANGE
Africa Minerals And Metals Exchange Unveils Sourcing Initiative for Precious Metals
On November 7, 2024, the Africa Minerals and Metals Exchange (AMME) announced the launch of its first physical delivery contract for responsibly sourced gold and silver from Africa, set for 2025. This initiative aims to enhance traceability and market transparency. It supports regulatory compliance and strengthens the precious metals market, expanding access for African minerals. The AMME plans to issue spot, futures, and options contracts, cleared through its clearing house.
The AMME Board approved the delivery of 5 tonnes of gold and 8 tonnes of silver, to be shipped quarterly to the UAE market in 2025. Details will be discussed at the Dubai Precious Metals Conference in mid-November.
This secured delivery marks a strategic opportunity for AMME to improve service offerings in the global metals market, fostering trust and accountability in the supply chain.
R. H.
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