2023-05-03 06:52:59
DIG/ Gabon’s current gold stocks have a value of 7 billion francs, according to the financial statements of the Equatorial Mining Company (SEM), contained in the latest EITI report (Extractive Industries Transparency Initiative).
The value of these gold stocks was of the order of 7 billion FCFA ($11.7 million) in 2021 against 1.7 billion FCFA in 2020. That is a variation of 311%.
According to the SEM, this increase is justified by the decision taken by the government not to market its stock of gold produced in 2021 in order to to create a strategic reserve of gold for more credibility on foreign markets.
« The SEM did not have carried out of gold sales in 2021, everything has been stored, with the Gabonese State’s objective of creating a strategic gold reserve », specifies the 2021 EITI report.
(With Ecofin)
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