In a groundbreaking move aimed at establishing Africa as a leading force in the ethical trade of precious metals, the Africa Minerals and Metals Exchange (AMME) has launched an ambitious initiative that will see Rubix Assets and Black Earth Trading participate in its First Delivery Program for Responsibly Sourced Gold and Silver. This program, which is set to deliver five tonnes of gold and eight tonnes of silver annually to the United Arab Emirates (UAE), marks a significant milestone in Africa’s journey toward becoming a global hub for ethically sourced precious metals.
The initiative, which falls under the umbrella of the Africa Minerals Strategy Group (AMSG), is designed to enhance transparency, traceability, and regulatory compliance within Africa’s precious metals sector. The first delivery cycle of this program is expected to be completed by February 2025, with future cycles continuing to strengthen Africa’s role as a reliable and ethical supplier of gold and silver.
The AMME, which is supported by a coalition of 16 founding member nations within the AMSG, offers a secure platform for the trading of precious metals. The exchange facilitates various financial instruments, including physically delivered spot contracts, futures, and options, all of which are backed by a dedicated clearing house to ensure seamless and transparent transactions. Through this platform, the AMME aims to foster sustainable development, promote responsible sourcing practices, and increase Africa’s competitiveness in the global market for precious metals.
Rubix Assets and Black Earth Trading, both key players in the global commodities market, have committed to adhering to the ethical sourcing standards set by the AMME in collaboration with the Africa Responsible Mineral Sourcing Initiative (ARMSI). Their participation in the First Delivery Program highlights their dedication to building transparent and sustainable supply chains that meet the highest international standards. This commitment is seen as a significant step toward creating a fully traceable, ethical supply chain for African gold and silver, aligning with global efforts to improve corporate responsibility and environmental stewardship in the precious metals industry.
Africa’s role in the global precious metals market has traditionally been dominated by concerns over conflict minerals and unethical mining practices. However, this new initiative aims to shift the narrative, promoting responsible sourcing that meets international certification standards. The AMME’s First Delivery Program is a clear indication that Africa is committed to not only increasing its share of the global market for gold and silver but also to ensuring that its resources are sourced in a manner that is sustainable, transparent, and ethical.
As the program progresses, it is expected to drive further interest in responsibly sourced African precious metals, paving the way for more investments in ethical mining operations and supply chains. The initiative also reinforces the strategic importance of the African continent in the global precious metals industry, positioning it as a key player in the ethical sourcing movement.
This latest development is seen as part of Africa’s broader efforts to strengthen its position in the global economy, with an emphasis on sustainable development and responsible resource management. With the support of Rubix Assets, Black Earth Trading, and the AMME, Africa is making significant strides in its quest to become a leading, ethical supplier of precious metals to the global market, providing a new benchmark for ethical sourcing in the industry.
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