Media
The Gold Safe Visit to Transeco Minerals and Mining, Ghana 2023
We invest in gold in order to protect our wealth and to give ourselves the opportunity to make a profit but, more and more these days, the ethical aspect of investing has become a focus.
It’s a comfort to know that, when purchasing gold from Transeco Minerals and Mining, you are purchasing from the most ethical, the most environmentally friendly and the most community conscious gold producer in Africa.
Transeco upholds the highest standards in ethical gold production, so much so that its mining site has been designated THE model mining site, not just for West Africa, but for the entire African continent and receives mining industry delegates, nationally and internationally, who come to view and emulate Transecos’ ethical and sustainable practices.
Administration Offices, Tema
In this first video clip, I pay a visit to the administration offices of Transeco, in Tema where I met Michael, the Chief Accountant and Saviour, the Assistant Accountant who explained in detail how funds raised through the sale of Forward Gold Contracts are initially patriated through the Bank of Ghana and converted to local currency. They explained how the bank requires that all funds be used for direct investment in the company and proof of where those funds are directed must be provided, along with a detailed description. Michael also explained how, funds raised through the sale of gold are then repatriated to the U.K., again through the Bank of Ghana and can only be paid to the original remitting bank. This tight control means that the investment and redemption process of Forward Gold Sale Contracts is highly transparent from beginning to end.
Site of Operations, Eastern Region
The following day, I paid a much-anticipated visit to the site of Transeco Minerals and Mining’s operation in the Eastern Region of the country. A big thank you to the co-directors of the company, Mr Amjad Niazi and Mr Godwyn Amah who took the time to explain how the company has come through the forced shut down due to the COVID pandemic and is now forging ahead with a radically evolved business model and gold extraction operation. Amjad explained how the company will be expanding its operation in the coming months and years and will be targeting major leaps in production levels due to the implementation of their new, hybrid processing plants and adapted operating techniques.
David Whatling
Director, The Gold Safe Ltd
