PRIMERA GOLD EXPORTED 475,348 KG OF ARTISANAL GOLD IN SEPTEMBER 2023

THE DEMOCRATIC REPUBLIC OF CONGO (DRC) IS GRADUALLY ASSERTING ITSELF IN THE EXPORT OF RAW GOLD FROM ARTISANAL MINING SINCE THE SIGNING IN DECEMBER 2022 OF THE JOINT VENTURE CONCLUDED BETWEEN THE CONGOLESE STATE AND THE UNITED ARAB EMIRATES FOR THE CREATION OF PRIMERA GOLD.

According to data published by this company, artisanal gold exports are estimated at 475,348 kg of gold for the month of September 2023 alone. Figures that had never been reached in the modern history of the country.

“Primera Gold DRC SA has just exported, for the 3rd time in September, 150,348 kg of gold from artisanal mining. Which brings us to a total of 475,348 kg of gold exported to the United Arab Emirates during this current month.

“Primera Gold DRC SA continued last week with its exports of gold from artisanal mining. 150 kg were shipped to the United Arab Emirates, already bringing down to 325 kg for this month of September 2023,” indicates the source.

During a press conference in July 2023, the Managing Director of this company, Joseph Kizibaziba, indicated that Primera Gold DRC SA officially exported two (2) tonnes of artisanal gold to the DRC at the end of June 2023.

This quantity of artisanal gold exported in six months represents a record equivalent to 80 years of exports from the province of South Kivu based on the average of 25 kg exported per year and 20 years of exports of artisanal gold from the entire Democratic Republic of Congo (DRC) on an average of 100 kg per year.

Over the last two years, i.e. 2021 and 2022, the Democratic Republic of Congo (DRC) had only recorded 57 kg of gold at the artisanal mining level due to 34 kg in 2022 and 23 kg in 2021.

Those responsible for this joint venture between the United Arab Emirates and the Democratic Republic of Congo believe that if it were not for the persistence of fraud, it would be possible to officially export, from the province of South Kivu alone, between 1,500 and 3,000 kg per month.

Although these results are positive and better than all the achievements of previous years, the General Director of this company indicated that they (results) have not yet reached the export rate targeted by Primera Gold DRC SA, in particular the threshold of one tonne per month during this first year; 1.5 to 2 tonnes per month during the second year; and 2.5 to 3 tonnes per month during the third year. This, with the aim of capturing around 36 tonnes of artisanal gold per year.

Signed on December 10, 2022, the joint venture between the Government of the DRC and the United Arab Emirates, through Primera Group Limited, should allow the DRC to benefit from substantial tax, parafiscal and customs revenue to support its development plan.

The Democratic Republic of Congo holds 45% of the share capital compared to 55% of the shares held by Primera Group Limited in the name and on behalf of the Government of the United Arab Emirates.