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Gold from Africa

In some African countries, transparency is not at its best when it comes to commodity trading. But there are exceptions

With the creation of the EITI (Extractive Industries Transparency Initiative), an international initiative, particular attention is to be paid to the transparency of revenues of developing countries from the extraction of raw materials. Because corruption is often a problem in African states.

In Tanzania, Africa's fourth-largest gold-producing country, President John Pombe Magufuli (nicknamed "Bulldozer") is working to ensure that the country can benefit from its own wealth of raw materials and that corruption is combated. Currently, Magufuli has ordered the central bank to create gold reserves.

"We should start buying gold, the central bank must invest here. We have to have our reserves in dollars, but also our reserves in gold, because gold is money," the president explained. He also called on the government to regulate the mining sector. Allegedly, the fraud in the mining sector has cost Tanzania 84 billion US dollars over the past 19 years.

There thus seems to be a tendency towards greater transparency in Africa, which should also benefit mining companies. Caledonia Mining in crisis-ridden Zimbabwe is an example in the gold sector of a company that has been developing positively for years. Here, too, progress has been made following the change of power in the country, which could make Caledonia Mining even more interesting for international investors.

Caledonia Mining - https://www.commodity-tv.net/c/search_adv/?v=298787 - produces gold in its blanket mine and has been paying dividends since 2014. The company's stake is currently 49 percent - 51 percent is held by domestic investors - but is to be increased to 64 percent.

Cardinal Resources - https://www.commodity-tv.net/c/search_adv/?v=298772 - is also working on the Bolgatanga Project and the Subranum Project in Ghana. Recent drilling has returned up to 29.3 grams of gold per tonne of rock. Ghana is politically stable and has already attracted large and small corporations. Large parts of the country are still relatively unexplored.

Current company information and press releases from Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp.html).

In accordance with §34 WpHG, I would like to point out that partners, authors and employees can hold shares in the companies mentioned in each case and therefore there is a possible conflict of interest. Only the English version of these messages applies.

Disclaimer: The information provided does not constitute any form of recommendation or advice. We expressly point out the risks involved in securities trading. No liability can be assumed for damages resulting from the use of this blog. I would like to point out that shares and in particular warrant investments are generally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. I expressly reserve the right to make a mistake, in particular with regard to figures and exchange rates, despite the utmost care. The information contained herein has been obtained from sources believed to be reliable but does not claim to be accurate or complete. Due to court rulings the contents of linked external sites are also to answer for (so among other things district court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: www.resource-capital.ch/en/disclaimer.html

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PDAC 2019

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at info@resource-capital.ch. We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

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