The United Arab Emirates and Zimbabwe have concluded a pact.
Africa is rich in raw materials of economic interest. Oil, gold, diamonds and ores are available. Especially gold mining is a lucrative business. Often the yield is large, and the costs are low. But often an illegal gold market has to be fought. Now the United Arab Emirates and Zimbabwe have reached an agreement on the first African gold market. The Zimbabwe-based Victoria Falls Stock Exchange (VFEX) and the Dubai Gold & Commodities Exchange (DGCX) have signed on to create the potential for the first gold market in Africa. The aim is to establish an international commodity exchange in Zimbabwe, he said.
According to CEO Justin Bgoni of VFEX, the plan is designed to offer miners more competitive prices through a reference market. It is, Bgoni says, "a holistic approach to the needs of gold miners", in the process they can raise capital, which the exchange makes easy for them to obtain. The illegal gold market is a thorn in the flesh. According to reports, more than US$1.5 billion worth of gold is smuggled out of the country annually. In the process, much of it ends up in Dubai. So now the legality is to be improved.
But Zimbabwe also has gold companies such as Caledonia Mining - https://www.youtube.com/watch?v=suUbH5qFIW0 -, which in this case has been successfully producing gold for years with the participation of local investors.
South Africa is also the production country of Sibanye-Stillwater - https://www.youtube.com/watch?v=Gm0CzBhIVDc -, whereby it is about platinum and palladium. But the company is also among the big players when it comes to gold, in South Africa and in the USA.
Current corporate information and press releases from Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-corp/ -) and Sibanye-Stillwater (- https://www.resource-capital.ch/en/companies/sibanye-stillwater-ltd/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
Africa is rich in raw materials of economic interest. Oil, gold, diamonds and ores are available. Especially gold mining is a lucrative business. Often the yield is large, and the costs are low. But often an illegal gold market has to be fought. Now the United Arab Emirates and Zimbabwe have reached an agreement on the first African gold market. The Zimbabwe-based Victoria Falls Stock Exchange (VFEX) and the Dubai Gold & Commodities Exchange (DGCX) have signed on to create the potential for the first gold market in Africa. The aim is to establish an international commodity exchange in Zimbabwe, he said.
According to CEO Justin Bgoni of VFEX, the plan is designed to offer miners more competitive prices through a reference market. It is, Bgoni says, "a holistic approach to the needs of gold miners", in the process they can raise capital, which the exchange makes easy for them to obtain. The illegal gold market is a thorn in the flesh. According to reports, more than US$1.5 billion worth of gold is smuggled out of the country annually. In the process, much of it ends up in Dubai. So now the legality is to be improved.
But Zimbabwe also has gold companies such as Caledonia Mining - https://www.youtube.com/watch?v=suUbH5qFIW0 -, which in this case has been successfully producing gold for years with the participation of local investors.
South Africa is also the production country of Sibanye-Stillwater - https://www.youtube.com/watch?v=Gm0CzBhIVDc -, whereby it is about platinum and palladium. But the company is also among the big players when it comes to gold, in South Africa and in the USA.
Current corporate information and press releases from Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-corp/ -) and Sibanye-Stillwater (- https://www.resource-capital.ch/en/companies/sibanye-stillwater-ltd/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
