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Organization of the Gold Trade ! Mostly all our gold trade operations are taking part in the eastern part of DRC (Congo). International mining companies restarted mining operations in north-eastern DRC (Congo) only in 2003. But while modern mining methods may not have been available, gold has continued to be mined by local artisanal miners throughout the duration of the conflict, sometimes in large quantities. From 1996 through the present, the Congolese transitional government has had little, if any, control over some eastern parts of the country where the richest sources of gold are found. With government officials lacking the means to enforce regulations, a few important traders based in Butembo, North Kivu Province, and Ariwara, Oriental Province, have monopolized the gold trade from Mongbwalu and Durba. In Butembo, one of the largest trading houses (comptoirs) is owned by Dr. Kisoni Kambale and, in Ariwara, one of the major houses is owned by Mr. Omar Oria. We know that these two control over fifty percent of the gold trade from north-eastern Congo. A friend of our Senior Trader Mr. Guma leases a small Antonov plane that flies under the name of Butembo Airlines (BAL) and that transports merchandise, including gold. Butembo Airlines makes regular trips to Mongbwalu, sometimes flying on a daily basis. It offered the only transport by air to Mongbwalu, which is hard to reach by road. The artisanal miners in north-eastern Congo selling their gold for cash to local traders (including us). In Mongbwalu for example, miners sell to one of some forty traders who then sell it to one of a second group of ten traders. We are buying Gold at the first stage. That means it is still cheap. Example: Buying directly from the miners coasts us about US$ 300-350 per ounce. In Rwanda we already can sell the Gold for US$ 550 per once. In Kenya or Tanzania for US$ 650-700 per once and in Dubai where I sell most of my Gold for US$ 750-800 per once. 1 troy ounce = 31.10 grams This is often a dangerous journey. The mines are often controlled by armed groups. We always make sure that we get the gold from mines who are using the New DRC Mining Code. Mr. Guma also uses the trading code. With this code we are allowed to export the Gold legally out of the DR Congo. In July 2002 the Congolese government, assisted by the World Bank, established this new Mining Code to regulate the extraction and trade in certain listed minerals, including gold. Before 2002 traders, who generally brought at the mining site and sold to trading houses in larger towns, could sell only in the Congo and were not authorized to export gold. With the new mining code we are allowed to export the gold. |
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Originally Posted by golddust
This program will be closed to new members tomorrow.
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A ponzai always need new members. Otherwise it would not work. This is a real Investment!
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Originally Posted by clifton
Real investment at 5% daily? Sounds like a joke to me.
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