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NYSE - LSE
Africa Minerals And Metals Exchange Announces Participation Of Rubix Assets And Black Earth Trading In Landmark First Delivery Program Of Responsibly Sourced Gold And Silver
The Africa Minerals and Metals Exchange (AMME), an initiative of the Africa Minerals Strategy Group (AMSG), is pleased to announce the participation of Rubix Assets and Black Earth Trading in its inaugural First Delivery Program of Responsibly Sourced Gold and Silver. This transformative initiative underscores AMME's commitment to fostering ethical sourcing, transparency, and regulatory compliance in Africa's precious metals sector.
The program will facilitate the secured delivery of 5 tonnes of gold and 8 tonnes of silver annually to the United Arab Emirates (UAE). This milestone represents a significant step forward in positioning Africa as a trusted supplier of responsibly sourced precious metals to the global market.
Key Highlights of the Program:
Volume: 5 tonnes of gold and 8 tonnes of silver annually
Destination: United Arab Emirates (UAE)
Participants: Rubix Assets, Black Earth Trading, and selected AMME and ARMSI members
First cycle to be completed by February 2025
ABOUT AFRICA MINERALS STRATEGY GROUP
The Africa Minerals Strategy Group (AMSG) is a coalition of 16 founding member nations united to promote sustainable development of Africa's mineral wealth. Through its work, AMSG seeks to enhance responsible mineral exploration, production, and local value addition while fostering international cooperation and environmental stewardship. As the driving force behind AMME, AMSG plays a pivotal role in shaping policies and frameworks that align Africa's mineral trade with global best practices.
About AMME and AMSG
The Africa Minerals and Metals Exchange (AMME) operates under the Africa Minerals Strategy Group and serves as a platform for secure transactions, enhancing traceability, compliance, and market transparency in the trade of precious metals from Africa. AMME's services include issuing physically delivered spot, futures, and options contracts, supported by a dedicated clearing house.
Significance of the Program
This initiative highlights Africa's leadership in ethical sourcing by:
1. Enhancing traceability and adherence to international standards.
2. Expanding market access for responsibly sourced African minerals.
3. Reinforcing Africa's reputation as a reliable and trusted supplier in the global precious metals industry.
Rubix Assets and Black Earth Trading have confirmed their commitment to supporting this groundbreaking initiative by aligning with AMME's stringent responsible sourcing standards, developed in collaboration with the Africa Responsible Mineral Sourcing Initiative (ARMSI).
This announcement marks a new era for Africa's mineral trade, paving the way for transparent and sustainable supply chains that meet the highest global standards.
For further information, please contact:
Patrick Mulindwa
Media Relations, Africa Minerals and Metals Exchange
Email: [email protected] | Phone: +256 755 140 292
Visit:https://africamineralsgroup.org/
This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
SOURCE: Africa Minerals and Metals Exchange
D.Kaufman--AMWN
