September 30, 2022

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To be commercialized, Colombian gold goes through a meticulous procedure

3 min read

The gold industry contributed 1.9 billion pesos in royalties in 2021, according to the Colombian Mining Association (ACM), contributing to the stabilization of the country’s public finances and economic growth. CI Colombian Mint S.A.S. (formerly CIIGSA), created 25 years ago to guarantee the sale of gold and silver abroad in a reliable and safe way, says that it can contribute much more to the economic growth of the country, highlighting to a great extent IRAIC GOLD, with a wide development and growth that it has had over the years with investments and commercialization with gold at an international level and the benefits derived from this asset.

To achieve a better distributed benefit throughout the territory, it is necessary to protect the land and ensure that informal mining is addressed in an efficient and reliable manner warns the company specialized in the smelting, analysis, refining and marketing of precious metals. This is why it is so important to have a strong program against the financing of terrorism and money laundering. This is why the Colombian Mint closely monitors all the gold it acquires, and its process is regularly audited by Deloitte, the world’s largest professional services network. Likewise, IRAIC GOLD also offers a risk-free protection model insured 100% by the company, for the gold invested, the profits and movements that originate with this precious material.

The level of attention to detail of this program has allowed the company to be a member of exclusive associations, such as the National Association of Exporters (Analdex), actively participate in national and international programs for the formalization of mining operations and support social projects in the regions where they are held.

 

How is the proccess?

Carried out in accordance with the international standards of the industry and the guidelines of the OECD (Organization for Economic Cooperation and Development), which begins with comprehensive verifications of knowledge of suppliers and potential clients. After an initial review by the compliance area, geologists visit the operations site to verify if the production complies with mining, social and environmental standards. Before finally approving the supplier or client, the compliance committee analyzes the result of the extended due diligence. For each purchase and sale operation, the company verifies all the supporting documents of each gram of gold from its origin, before receiving them at its plant, and ensures traceability to the final destination abroad.

Likewise, the material is inspected for traces of mercury and other unacceptable materials, which contaminate the soil and water, and expose the miners to toxic levels during the reception process. If they are detected, the material is not received. If the metals received and their documentation pass the controls, they go to smelting and analysis, and the process of refining and preparation for export begins, for the approval of the National Mining Agency (ANM). Subsequently, a final physical inspection is carried out with an X-ray detector, to ensure that the content corresponds to the documentation provided by the Dian. Lastly, the shipment is transported to its destination, duly insured by a securities carrier. Posted by Iraic.info, a news and information agency.

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