Post #92

What conclusions can be drawn from our research? 👇 🔴There are two undisputed champions - Mali and Zimbabwe, both pushing for complete domestic refining of their gold. They are followed by the DRC (copper + cobalt), Senegal and Nigeria (oil), who insist on partial domestic processing.The latter two countries mandate priority sale of oil to local refineries. ‼️The governments are more likely to demand higher extent of domestic processing of gold and oil, which may be explained by the relative simplicity of their beneficiation in comparison with other materials (e.g. uranium in Niger, bauxites in Guinea, phosphates in Togo). In addition, the desire to establish internal purification of gold must be spurred by the unprecedented high gold prices, while local oil refining is crucial to replace petroleum imports, that lead to constatnt lack of foreign currency in the country. ⁉️Some countries bring forward requirements, that physically cannot be met due to the absence of local beneficiation facilities. The Malian Mining Code, for example, requires that gold be processed into bullion at home, however, a local refinery is still under construction. Another example is Senegal, which mandates priority sale of oil products to local consumers, but its only oil refinery cannot process certain grades of local crude oil. Finally, except for certain outstanding instances, most countries fail to adopt policies that require greater value addition at home, which means, first and foremost, missed opportunities to improve the lives of citizens. Devils Below