Uganda’s first gold refinery, which opened on Monday, will use raw gold from conflict-ridden South Sudan and Eastern Congo, its owner, Africa Gold Refinery, said.
It dismissed activists’ concerns that such a move could fuel violence in the region.
The refinery, which is in Entebbe, south of the capital Kampala, will process raw gold from the region as Uganda has only small mines and no commercial mine.
Rights activists, however, are concerned about the use of gold from conflict areas such as the volatile mineral-rich east of the Democratic Republic of Congo and South Sudan, mired in civil war.
“Gold, which is used to finance conflict, might be finding its way into supply chains,” said George Boden, an activist at London-based rights group Global Witness.
A U.S. law passed in 2010, the Dodd-Frank Act, requires companies to disclose whether their products contain minerals from conflict-ridden parts of Africa.
The law aims to hinder armed groups from using minerals to finance conflicts.
“It’s a very high compliance refinery. We do due diligence for every customer who comes in,” Alain Goetz, the Chief Executive Officer of Africa Gold Refinery (AGR), told newsmen.
Goetz is AGR’s majority shareholder and he also owns a stake in Belgian gold refiner Tony Goetz NV.
He said AGR would carefully select its customers, comply with the law and label its gold accordingly.
The post Ugandan opens gold refinery, to import from South Sudan, Congo appeared first on Vanguard News.
Vía Vanguard News http://ift.tt/2m41rkE
No comments:
Post a Comment