New Telegraph

Dukia Gold, Philoro sign agreement to deepen precious metals value chain

Dukia Gold & Precious Metals Refining Company Limited, Nigeria and Philoro Global Trading AG Switzerland, have signed a Working Together Agreement (WTA) on the sidelines of the Investing in African Mining Indaba taking place in Cape Town, South Africa, to collaborate in the development of the precious metals small scale and artisanal gold mining value chain. The agreement, which was endorsed by the Ministry of Mines and Steel Development, will deepen participation in the extractive industry as well as consolidate strategies in the development of programmes needed to exploit the expected benefits in the sector.

Speaking at the event, Chief Operating Officer (COO) and Executive Director Dukia Gold, Paul Beesley, said the objective of the Working Together Agreement is to bring about the establishment of a precious metals trading programme centred in Nigeria to service and support the Nigerian market and potentially use it as a basis to offer similar products to other African markets. Besides, he said the partnership would assist in developing finance and technical support solutions to unlock Dukia Gold’s responsible sourcing of Dore’ strategies, including evaluation and development of new projects and supporting small scale and artisanal mining programmes.

The partnership, he said, will strengthen and expand the Dukia Gold Precious Metals Refinery in support of the goal of being able to aggregate gold doré from third-party sources in Nigeria and across West Africa. He said the ultimate target is to produce world class good delivery bars and coins.

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