Mozambique: Greater control of sale, purchase of gems, precious metals

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Mozambique: Greater control of sale, purchase of gems, precious metals

2:59 CAT | 02 Sep 2022

FILE - For illustration purposes only. [File photo: Lusa]

Mozambique’s Minister of Mineral Resources and Energy, Carlos Zacarias, has strengthened control measures for selling and purchasing precious minerals to prevent money laundering and financing terrorism.

An order signed by Carlos Zacarias, seen today by Lusa, requires a production control table and a purchase and sale bulletin to be filled out and the respective file kept for presentation to the competent authorities, whenever required.

It will also be mandatory to fill out a statement, under oath, stating that the precious metals and gems subject to transaction do not come from conflict zones and that they were acquired legally.

After the authorised sale of precious stones or gems, proof of the transaction must be submitted to the Kimberley Process Management Unit, an international mechanism that promotes transparency in the business of precious minerals.

The voucher, the service order explains, is for the identification of the ultimate buyer.

“Failure to comply with the guidelines implies the application of the sanctions provided for in the mining legislation and the law to prevent and combat money laundering and other legislation in force,” the minister said.

The issue of financing terrorism has gained prominence in Mozambique, with the activity of armed groups that have been linked to violent extremism in the northern province of Cabo Delgado, leading to increasingly close monitoring of economic sectors considered vulnerable to exploitation by radical groups.

Source: Lusa