Nigeria plays host to the first-ever West Africa gold conference

The first-ever West Africa gold conference hosted by Nigeria’s first gold refinery, Kian Smith Gold Refinery in collaboration with Noemdek Ltd, an advisory firm, will take place in the economic hub of the country, Lagos state.

The event themed “Gold West Africa” conference is aimed at strengthening West Africa’s gold value chain as well as enabling relevant policies and market infrastructure for the gold ecosystem by positioning Nigeria as pivotal to the sector’s development. It will bring together 150 critical gold sector stakeholders from over 14 countries.

Nere Teriba, the Managing Director of Kian Smith Trade & Co Ltd, who noted that the Nigerian narrative on gold is advancing from ‘gold exploration and mining’ to ‘gold market and economy, stated that “the Gold West Africa Conference is focused on developing the gold value chain in the region towards establishing West Africa as a gold market centre. The development of the gold value chain in Nigeria has strong dependencies on gold, trade and monetary policies across the Economic Community of West African States (ECOWAS) and the geographical region of Sub-Saharan Africa.

It will also help promote a strong West African public and private sector lobby around gold, put the region top of mind in gold mining, refining and all that pertains to gold as well as spur economic growth for countries (Ghana, Burkina Faso, Mali, Cote D’Ivoire etc) with gold.

West Africa has a rich gold economy. Previously, gold mining in the region was extensive and valuable and influenced social and economic institutions but the contemporary gold industry has been quite unsatisfactory although it has been thriving. The industry has the potential to unlock the West African region as the gold market centre of Africa.

With the Gold West Africa conference, strategies that will develop world-class gold projects from exploration to production will be explored; the need and benefits of formalising the artisanal gold mining sector will be discussed; the importance of facilitating investment and funding throughout the value chain, the impacts of gold trading on monetary policy as well as the status and trends of West African gold consumption will be examined and explored.

In addition, legalizing and formalizing artisanal gold miners, responsible sourcing for gold: chain of custody and traceability issues, facilitating transparent gold trade across the region, opportunities for investing in gold from mine to jewellery and new frontiers in ancillary services for the gold industry are all themes to be discussed at the conference this June.

According to Teriba, the Economic & Sustainable solutions towards artisanal gold mining, trading, refining and creating gold products and markets can only be achieved when public and private stakeholders in the gold sector of West Africa jointly create the eco-system for the gold economy to thrive above ground.

The event promises a relevant conference agenda that speaks to each stakeholder and all those interested in the gold value-chain.