Accra: Typhoon Greenfield Development Ltd and MKS PAMP, in collaboration with Development Gold International (DGI), have made a historic presentation of traceable and responsibly produced gold bars to Otumfuo Osei Tutu II, the King of the Ashanti Kingdom. This milestone marks the first export of gold sourced from Ghanaian small-scale mines that meets international standards.
According to Ghana News Agency, the presentation took place during the Mining in Motion summit at a gala dinner in Accra, where six gold bars were donated for auction. The proceeds from these auctions will support the King's charities, focusing on land restoration and clean water conservation initiatives. The event was attended by several high-profile dignitaries, including ministers from various African nations and key figures from the mining industry.
In a pioneering effort backed by the London Bullion Market Association (LBMA), the first 445 grams of gold, produced by Typhoon at its Adomanu mine, was exported to Switzerland for refining at MKS PAMP's facilities. This initiative aligns with the DGI program that supports small-scale mining operations in adhering to international standards, such as the Development Gold Ghana Performance Standard and the LBMA Responsible Sourcing.
Max Afriyie-Barwuah, President of Development Gold International, emphasized the significance of this achievement, highlighting the years of collaboration that have led to this new era in the formalization of Ghana's small-scale mining sector. The initiative positions Ghana as a credible source of LBMA-compliant gold, opening responsible gold markets globally to small-scale miners.
Kwaku Afrifa Nsiah-Asare, CEO of Typhoon Greenfield Development Ltd, expressed excitement about the initiative, noting that it has enhanced their operational capacity and management of environmental and social aspects. He anticipates that this success will inspire other small-scale mining operations in Ghana to follow suit.
Omar Liess, Chief Commercial Officer of MKS PAMP, acknowledged the partnership's importance in advancing responsible sourcing in the artisanal and small-scale mining sector. Ruth Crowell, Chief Executive of the LBMA, praised the initiative, noting its potential to set a precedent for similar arrangements globally.
DGI's Development Gold Ghana Performance Standard, developed in collaboration with TDi Sustainability, aims to redefine small-scale gold mining by addressing legacy issues such as illegal mining and environmental concerns. The initiative also enhances gold supply chain traceability through DGI's MineTrace platform.
Assheton Carter, Executive Chair of TDi Sustainability, highlighted the progressive framework DGI is providing, which facilitates mine-site improvement and compliance with international standards. The LBMA's responsible ASM program, launched in 2022, has identified Ghana as a key player in scaling responsible ASM gold sourcing.
The LBMA has actively engaged with Ghanaian stakeholders to support responsible ASM sourcing, including hosting a Ghana government delegation at its 2023 Responsible Sourcing Summit. This collaborative effort signifies a transformative phase for Ghana's small-scale mining sector and its integration into global responsible gold markets.