Who are we
We are a counter, purchase, sale, export, intermediation and representation of artisanal gold miners in Guinea.
According to the provision of code N006/CNT 12011
In Articles 59, 60, and 61, any legal entity holding a license approved by the Ministry of Mines has the right to open a buying, selling, and exporting office.
Purchase categories
We purchase gold from various sources, including:
• Artisanal miners: Artisanal miners produce a large portion of the gold in Guinea, with a production of 2.5 million ounces in 2020, representing 85% of the country’s total gold exports.
For the security of our transactions,
1) We purchase from reputable and verified suppliers.
2) We compare prices and verify product grades to ensure the best possible quality/price ratio for our end buyers.
3) We are meticulous about sales conditions to ensure secure and transparent transactions.
Sales
This is an interesting opportunity for international buyers of Guinean gold to benefit from local market prices.
To succeed in this process, we consider the following aspects
Knowing local market prices
Understanding current local market prices is essential to setting competitive prices for our buyers.
Identifying potential buyers
Difficulty reaching buyers, negotiating fair prices, and accessing international markets.
Building strong relationships
Complex and sometimes unclear regulations, licensing issues, and bureaucratic hurdles.
We comply with local and international regulations
regarding gold exports, particularly regarding certification, taxation, and the fight against illicit trade.
By working with international buyers, our goal is to expand our client network worldwide based on a win-win, serious, and transparent partnership.
About Us
Guinea Gold Hub
Exportation
All export requests must be addressed to the Directorate General of the BNE, which will be forwarded to the Directorate General of Operations of the BCRG, along with a copy of the export license.
• All gold exports from Guinea are handled by the Central Bank.
• The gold must be processed through the BCRG laboratory for melting and assaying, against payment of GNF THREE HUNDRED (300) per gram for laboratory fees.
• The quantity to be exported must be duly and formally declared to the country’s Customs services.
• Administrative and Customs formalities (mail from the BCRG to Customs, declaration, and export authorization issued by the Directorate General of Customs) will be completed once the exporter has paid the export tax in foreign currency to the Treasury, which amounts to 0.55% of the value of the batch to be exported. • The BCRG’s fee for receiving, storing, and securely transporting each shipment to the airport is 0.15 of the value of the package to be exported.
• The exporting client is free to domicile their transaction commercially at the BCRG or at any other local bank.
• In accordance with current foreign exchange regulations, the exporting client is required to repatriate the foreign currency equivalent of the exported quantity within forty-five (45) days from the date of shipment of the consignment.
• The destination of the consignment to be exported remains at the exporter’s discretion.
Intermédiation
Intermediation between suppliers and buyers is a key role for a trading house.
Here are some benefits and considerations for this role we play as a trading house:
Benefits:
• Facilitating transactions: We help facilitate transactions between suppliers and buyers by connecting the parties and negotiating the terms of the transaction.
• Ensuring quality and authenticity: We guarantee the quality and authenticity of the product for buyers.
• Negotiating prices: We negotiate gold prices between suppliers and buyers, which can help secure better prices.
Considerations:
• Knowing the market:
We have extensive market knowledge, including prices, trends, and regulations. • Building Trust: We build trusting relationships with suppliers and buyers to ensure secure and transparent transactions.
• Managing Risk: Our trading desk manages the risks associated with intermediation, including non-payment, delivery, and gold quality risks.
Representation
Representing local gold miners to buyers is an important role for a comptoir. Here are some benefits and considerations for this role:
Benefits:
• Defend the interests of gold miners: The comptoir defends the interests of local gold miners by negotiating fair prices and ensuring that sales conditions are respected.
• Facilitate market access: The comptoir helps local gold miners access larger markets and larger buyers, which can increase their income.
• Improve transparency: The comptoir improves transparency in transactions between gold miners and buyers, which can reduce the risk of fraud and exploitation.
Considerations:
• Know the needs of gold miners: The comptoir must know the needs and concerns of local gold miners to be able to represent them effectively. • Building trusting relationships: We build trusting relationships with local miners to ensure their interests are effectively defended.
• Managing conflicts of interest: We manage potential conflicts of interest between miners and buyers to ensure fair and transparent transactions.
By representing local miners to buyers, we help improve the living conditions of miners and their communities.
