CONFLICT GOLD FROM AFRICA MAY BE IN U.S. MARKETS, PASSING THROUGH MAJOR COMPANIES

Spend Matters on 6th November reported that a study by a watchdog group that focuses on Africa has highlighted concerns that conflict gold mined from the Democratic Republic of Congo (DRC) is making its way into international markets and becoming integrated in the supply chains of major US companies.  The study is said to raise concerns that the corporate network controlled by Belgian tycoon Alain Goetz, director at the Belgian gold refinery Tony Goetz NV, has refined illegally smuggled conflict gold from eastern DRC at the African Gold Refinery (AGR) in Uganda and subsequently exported it through a series of companies to the US and Europe.  Another academic study published in July 2016 also found troubling results when considering the level of conflict minerals that may have been present in the US.

https://spendmatters.com/2018/11/06/study-conflict-gold-from-africa-may-be-in-u-s-markets-passing-through-major-companies/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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