On Wednesday, the management team for the Presidential Artisanal Gold Mining Development Initiative (PAGMI) met with President Muhammadu Buhari.
The steering committee delivered an update on the group’s activity since its inception.
The report was presented by Uchechukwu Ogah, Minister of State for Mines and Steel Development, and Fatima Shinkafi, Executive Secretary of the Solid Mineral Development Fund (SMDF).
The group submitted the ‘Responsible Gold Mining Framework and Guidance Document,’ according to Ogah.
Its goal is to assist PAGMI and enterprises in improving and managing their gold sourcing as well as their performance in terms of the Environment, Economic, Social, and Governance (EESG).
According to Ogah, the plan will provide a transparent gold supply chain, environmental stewardship, and the prevention of money laundering, terrorist financing, and human rights violations.
“The toolkit is a document developed as a multi-stakeholder project on responsible gold supply chain management, concentrating on risk-based due diligence based on globally acknowledged standards such as LBMA, OECD, etc.
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“This toolkit was developed to guide companies, provide checklists, questionnaires and assist them to report their commitments, due diligence processes, and actions related to responsible gold sourcing”, he said.
In his remark, Buhari affirmed support for the committee’s target of aggregating 3-5 tons of gold over the next 12 months for additional fiscal and economic benefits to Nigeria.
“The Solid Minerals Development Fund should work with all relevant government agencies to identify the support and funding needed to deliver on this aggregation target”, the President directed.