Bobbed by illicit gold trade, countries in the East African region are discussing the adoption of stringent traceability mechanisms to stop illegal and illicit gold trade.
The countries are particularly planning how to stamp out rampant smuggling across East and Central Africa to overseas buyers particularly in Asia.
Mining officials from the International Conference of the Great Lakes Region (ICGLR) countries are in negotiations and are meeting next month to discuss the body’s Artisanal and Small-Scale Gold Strategy.
The strategy would include harmonisation of gold export procedures including taxation and traceability and certification.
The ICGLR wants its member countries to adopt the strategy by mid-this year.
“It is disheartening to see so much gold being smuggled from the DR Congo through its neighbouring countries.
“While much attention over the past 10 years has focused on implementing traceability for tin, tungsten and tantalum (Three Ts), little has been done in terms of monitoring the flow of gold in the region,” Ambeyi Ligabo, director of Democracy and Good Governance at ICGLR, said.
More
