Silver – Exported from Ghana to Gulf Precious Metals Refinery (UAE)

In Q1 2025, CM MINING facilitated the export of 8,600 kilograms of refined silver (99.97% purity) from Ghana to Gulf Precious Metals Refinery in Dubai — one of the largest single silver shipments from West Africa to the Middle East that year. Sourced as a byproduct of gold operations across 22 licensed mines in the Ashanti and Western Regions, the consignment carried full EUDR, LBMA, and UAE Central Bank compliance documentation, representing $682 million in facilitated trade value.

Challenge

The refinery required all silver to meet LBMA Good Delivery standards with zero tolerance for trace contaminants (bismuth ≤5 ppm, lead ≤10 ppm). Initial assays from three producers showed bismuth levels at 7–9 ppm — risking rejection. Simultaneously, Ghana’s new precious metals export tax regime created uncertainty around duty classification for silver-gold co-products.

Solution

CM MINING coordinated with SGS Accra to re-refine non-compliant lots using electrolytic purification, achieving final bismuth levels of 3.2 ppm. Concurrently, our legal team worked with Ghana Revenue Authority to secure advance ruling on tariff treatment, classifying the material under HS Code 7106.91 (refined silver), not as raw ore. Full chain-of-custody logs, geotagged origin data, and third-party assay reports were submitted digitally to UAE customs 72 hours pre-arrival.

Outcome:

The shipment cleared Jebel Ali Port within 18 hours and was accepted without adjustment. Gulf Precious Metals extended its partnership through 2028, committing to 24,000 kg annually establishing CM MINING as its exclusive West African silver supplier.

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Silver – Exported from Ghana to Gulf Precious Metals Refinery (UAE)

Challenge

Solution

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