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Dr. Sledge Nana Yaw Duodu, President of Goldridge (left) and Mr. Philip Kwasi Akufo, President of the National Association of Small Miners of Ghana, (right) after signing the agreement
One of Ghana’s leading gold exporters, Goldridge Ghana Limited, has signed an agreement to provide the Ghana National Association of Small Miners (GNASSM) and its members with logistical support to enable them to formalize their operations and increase productivity.
The agreement will allow miners to operate in safe and friendly environments with the peace of mind of focusing on achieving higher production volumes.
GNASSM members who take advantage of the contract packages will have access to Goldridge’s finances and, in return, funnel their gold to the Goldridge refinery. Goldridge will then export the refined gold to legal international markets.
In a brief ceremony in Accra during which the parties attached their signatures to the agreement, Goldridge Ghana Limited CEO and Chairman Dr. Sledge Nana Yaw Duodu expressed his enthusiasm for the consensus reached by the two bodies to work hand in hand. . to improve the mining sector and positively affect its upstream.
He said that one of the reasons Goldridge was created was to promote Ghana as the top gold producer in Africa and he is excited that such an agreement has finally been signed to give the sector a major boost that will be of benefit to all. The interested parts.
“All Ghanaian gold miners deserve to be recognized and receive a fair wage. I have made Goldridge’s mission to unlock the full value of our gold sector by promoting the formalization of mining operations, responsible practices, promoting refining in the country and accessing global markets, ”he said, adding that the signing of the Agreement paves the way for the realization of this important transformation.
“Together with GNASSM, we have established the perfect partnership where the partnership brings the miners and Goldridge provides the means to configure the entire value chain,” said Dr. Sledge Duodu.
He said that the small-scale mining sector in Ghana produces around 50 tons of gold a year and since Ghana is the number one producer of gold in Africa, Ghana should be recognized internationally as a center for gold.
“It has always been my vision to partner with and elevate small miners. We have established an office in Dubai which is a wholly owned Ghanaian company aiming to show small scale miners and also build bullion trade between Ghana, Dubai and other countries.
“The basis of the Agreement and the Program is a system of traceability and due diligence from the mine site to the global markets that the partners are developing in accordance with international standards, and that the miners and Goldridge will have to comply with. Each and every one of the components of the Program are crucial for its success: formalization; responsible mining practices; due diligence; traceability; refining in the country; and export to global markets, all with internationally recognized standards. If a component is missing or does not meet standards, the value chain cannot be recognized internationally. When everything works, it will fully benefit the gold miners and their communities. Small-scale gold mining will become a significant contributor to Ghana’s socio-economic development, and the country will reap the full value of its precious resources, ”explained Dr. Sledge Duodu.
Gold refinery in Accra
Dr. Sledge Duodu further stated that his company has begun construction of a gold refinery in Accra, which is expected to be completed by the middle of next year. Upon completion, he said the gold refinery will be able to refine up to 1,000 kg of gold every day.
“Goldridge is taking a leading role in Ghana’s transition from a producer of crude gold to a producer of refined gold. This is a key component for the country to fully benefit from its valuable resources. We have started construction of a refinery in East Legon which is expected to be completed by the middle of next year. It is a 500 kg shift for eight hours, which means that if we run two shifts, we can refine 1000 kg every day. Ghana’s total production is about 150 tonnes, of which 50 tonnes are produced by small miners. This refinery is not being built to refine only the gold of small miners, but also of the large miners of the country and also of West Africa ”, he explained.
GNASSM
The president of GNASSM, Mr. Philip Kwasi Akufo, explained how much the signing of the agreement meant for the association and its members, showing how eager they are all to improve their productivity.
He said that Ghana has a population of hard-working and highly-skilled miners, adding that GNASSM’s membership is close to 2,000 mining operations and involves approximately 1.8 million individual miners.
Akufo said that all small miners are willing to further improve their practices in order to access international markets, improve their working conditions and livelihoods, as they lack access to training, equipment and financing.
“GNASSM is delighted to partner with Goldridge. Dr. Sledge is highly respected by Ghana’s miners, governments and institutions. He brings leadership, the vision to transform the industry, and has the means to make it happen. Already many non-members are seeking to join the Association to enroll in the Program. This is going to be transformative, ”Akufo said.
GNASSM Secretary General Godwin Armah, who expressed the hope that the agreement will positively impact the fight against galamsey, said that one of the association’s missions is to ensure that mining is carried out in a more sustainable way and to ensure that illegal miners are attracted to adopting approved practices.
“The agreement is for Goldridge to supply small miners with the necessary technology and equipment that we need to use to recover our gold and ensure that the environment is intact,” he said.
He said the deal will also see to it that small miners can track their gold upstream, adding that the deal has been in the pipeline for a long time. He was excited that the two bodies have finally agreed to work together for the benefit of the country and other stakeholders.
“We are happy to sign this agreement. This is something that we have deliberated with Goldridge about for a long time and we want to add value to gold so that our jewelry industry gets the pure karat it wants to meet international standards.
Ghana Jewelers Association
Ghana Jewelers Association President Yaw Duah said his association will leverage the agreement to produce quality jewelry that will establish Ghana as a quality gold producer.
“We hope to take advantage of everything that comes out of the agreement between Goldridge and GNASSM. Ours is more like what makes the industry flourish and what we produce is what makes the international market know that we have quality gold in this country. So we are really excited about this. We believe this will help us and strengthen the entire industry. “
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