Africa Minerals And Metals Exchange Announces AFRICA RESPONSIBLE MINERALS INITIATIVE OF AMSG

Africa Minerals Strategy Group to launch Africa Responsible Mineral Sourcing Initiative at Dubai Precious Metals Conference 2024 on 18^th November 2024

LONDON, UK / ACCESSWIRE / October 8, 2024 / The Africa Minerals Strategy Group (AMSG) Secretary-General His Excellency Moses Micheal Engadu announced that AMSG will launch the Africa Responsible Mineral Sourcing Initiative during the Africa Mining Workshop at the Dubai Precious Metals Conference (DPMC) on 18^th November 2024 at JAFZA One Convention Centre, DMCC. The DPMC 2024 is being held under the theme: "The Future of Precious Metals: Modernising Trade in a Multipolar Market".

The AMSG Responsible Mineral Sourcing Initiative which will be implemented in partnership with Oheneba Poku Foundation aims 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 AMSG Responsible Mineral Sourcing initiative will pay keen focus on artisanal and small-scale miners to ensure the market inclusion of millions of miners and the economic development of African producer countries.

The Africa Mining Workshop at Dubai Precious Metals Conference 2024 is organized under the AMSG Responsible Mineral Sourcing Initiative in collaboration with DMCC, OECD, World Gold Council and Oheneba Poku Foundation and will benefit national authorities, financial intelligence units, central banks, commercial banks, logistics providers, refiners, aggregators, traders and other stakeholders in the precious metals supply chain in the AMSG Member States.

The Workshop offers a unique opportunity to bring together producer governments and valued stakeholders in the responsible sourcing ecosystem in AMSG Member States and key market actors to facilitate meaningful collaboration and engagement on pressing issues of concern including but not limited to sourcing rules, transparency, traceability disclosures, due diligence, capacity building and highlighting best practices on how responsible sourcing can drive sustainability in Africa's precious metals industry.

The expected participants include national authorities led by Ministers responsible for Minerals, Central Banks with Domestic Purchasing Programmes, Commercial Banks, Mining Companies, Insurers, Logistics Providers, Refiners, Assurance Providers, Aggregators, Traders, artisanal and small-scale miners and other stakeholders involved in the precious metals supply chains.

The goal of the Africa Minerals Strategy Group through its initiatives of Responsible Mineral Sourcing and the Africa Minerals and Metals Exchange is to promote exploration, extraction, production, local beneficiation (value addition) and commercialization to ensure a sustainable, transparent and secure supply of minerals, while protecting our environment and improving the quality of life of our population.

The Africa Minerals Strategy Group is an intergovernmental body established to facilitate international cooperation in the minerals and mining sector among member African nations and to work closely with strategic partners to harness the potential of Africa's vast mineral reserves for mutual benefit. 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.

Supporting Quotes:

"To fully harness the economic opportunities and trade in the markets, it is imperative that African countries as leading producers of precious metals proactively lead in the creation and implementation of responsible mineral sourcing standards to sanitize the global supply chains. I am pleased that the Africa Minerals Strategy Group is holding this very important and timely workshop on Responsible Mineral Sourcing to offer Africa an opportunity to highlight its best practices while simultaneously building its capacity on responsible sourcing to benefit our governments and key stakeholders. I therefore invite all Responsible Sourcing actors to partner and support the Africa Minerals Strategy Group in its initiative to build an Africa Responsible Mineral Sourcing Ecosystem."
H.E Dr. Dele Alake, Minister of Solid Minerals Development of the Federal Republic of Nigeria and Chairman, Africa Minerals Strategy Group

"A raft of new responsible sourcing guidelines and obligations have been issued by OECD, LBMA, UAE as well as Swiss and US KYC, Anti-Money Laundering and Combatting Terrorist Financing regulations requiring compliance by any entity wishing to trade with these markets. The Africa Minerals Strategy Group through the Africa Mining Workshop at the Dubai Precious Metals Conference 2024 and the AMSG Responsible Mineral Sourcing initiative aims to support African countries to understand and comply with the responsible sourcing guidelines and AML regulations to achieve transparency, traceability, accountability and sustainability in Africa's minerals and mining sector through collaboration and collective engagement underscored by capacity building, resource sharing, technology advancement and strategic partnerships."
H.E Moses Micheal Engadu, Secretary-General, Africa Minerals Strategy Group

"The Oheneba Poku Foundation is committed to driving sustainable development in Africa through ethical sourcing, social empowerment, and environmental restoration, especially within the artisanal and small-scale mining (ASM) sector. Our partnership with the Africa Minerals Strategy Group on the Responsible Sourcing Initiative and the Africa Mining Workshop at the Dubai Precious Metals Conference underscores our dedication to promoting responsible mining practices that prioritize transparency and accountability. Together, we will empower African producer countries to unlock greater market access, build the capacity of local miners, and ensure that Africa's precious metals are sourced in ways that protect both people and the planet. By aligning our efforts with global sustainability goals, we aim to create lasting economic and environmental benefits for African communities."
Oheneba Nana Kofi Poku, Chairman, Oheneba Poku Foundation

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
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 critical 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 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 Oheneba Poku Foundation
The Oheneba Poku Foundation is a dedicated non-profit organization established by Blaze Metals . Our mission is building a sustainable future by empowering communities, promoting ethical development and advancing environmental stewardship in artisanal mining across Africa.
Find out more at https://ohenebapokufoundation.org

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SOURCE: AFRICA MINERALS AND METALS EXCHANGE