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Minexx and Solidaridad export first blockchain tracked gold from Ghana

Published by , Editorial Assistant
Global Mining Review,

For the first time in Ghana’s mining history, Minexx, in collaboration with Solidaridad, a civil society organisation, have successfully exported 11.62 g of gold fully traced with Minexx’s blockchain technology platform from the Obeng Mine in Ghana. The gold was exported via trader HA Exploits Ltd. to the international market.

Marcus Scaramanga, Chief Executive Officer and co-founder of Minexx, said:

“We are very pleased and proud to have achieved this milestone. Ghana is now the largest gold producer in Africa, so it is significant for this landmark to have happened here.”

“Minexx is connecting local responsible miners to responsible buyers on the international market, adding that the milestone kick-starts the organisation's growth and scaling in Ghana.

“It is more important than ever that we moved with pace, leveraging technology to provide solutions to the challenges the world faces and to play our role in delivering benefits to all in the supply chain — from the artisanal and small-scale miners through to the consumer. This breakthrough in Ghana is another important step in this journey,” .

Over the last six months, in partnership with Solidaridad, Minexx has worked with a number of mining companies, including the Obeng Mine, gold traders and officials of the Ghana government, to roll out its blockchain platform. All mining sites involved in the programme have been carefully selected after rigorous and thorough due diligence and undergo regular monitoring.

Isaac Gyamfi, Regional Director for Solidaridad West Africa, said:

“As an organisation promoting responsible practices in artisanal and small-scale mines in Ghana, Solidaridad is extremely excited to see responsibly produced gold being fully traced from mines it supports to the market.

“We will continue to support mines to meet the CRAFT Code requirements and use the Minexx traceability platform to trace the gold produced right from the mines to the international market, thereby giving assurance to consumers that the gold is coming from a responsible source — respect for human rights, health and safety of workers, and good environmental management, among others.”

Since 2018, Solidaridad has been supporting the Obeng/Daakye Mine, a small-scale open pit mine located in the Western region of Ghana, founded in 2012, to transition from its conventional mining practices to a sustainable and responsible one. At the maiden responsible small scale mining awards held in December 2021, the mine won the national overall small-scale mining award for 2021 for producing gold responsibly.

Stephen Baidoo, General Manager of Obeng Mine, said:

“With the support of Solidaridad, responsible and sustainable mining has become the hallmark of our operations. We will continue to give priority to the safety of our employees and also ensure good environmental management.”

Nana Akwasi Awuah, Managing Director of the Precious Minerals Marketing Company in his recent article on illegal mining in Ghana, said:

"As a gold producing country, responsible sourcing is crucial for Ghana if the country is to obtain full value for its precious mineral.”

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African mining news Gold mining news