Savina Refinery Limited Needs Government Attention
Savina Diamonds Ltd., a company registered at Company House of Sierra Leone since August 2013, has executed licences of exportation in diamond, and after in gold until 2016 then the associates and owners decided to build a gold refinery and all the necessary processes to go through:
- Find the perfect location
- Find the exact solution for both, the artisanal mining and the refinery
- Perform some estimations on the basis of the official export of the country
- Localize the best strategies to increase the production of gold and so doing to guarantee the flux of gold
- Trying to find concessions for the company and the government
- Trying to get the exemption of the taxes of importation of machinery (rigorously Italian)
- Studying the potential production of gold in Sierra Leone with the collaboration of the government, and help us collecting the gold from the artisanal miner and so that they do not export it illegally in the black market is risky for both mines and government because this decreases the GDP of the country.
- Find out the best machinery that does not have an heavy impact of the environment and that follows the international normative, and tomorrow to have an accreditation in the LMBA (LONDON MARKET BULLION ASSOCIATION)
Savina Diamonds Ltd., has a great reached 90% of the points mentioned above, in fact now the company is in strict contract with the minister mines and minister of aviation. To find together a final agreement with the acceptance of his Excellency the president of Sierra Leone.
Savina Diamonds Ltd., is ready to start the work soon as possible even in September, the important thing is that the agreement mentioned above is agreed with the government in Juky.
Savina Diamonds Ltd., has a great bond with Petterson Diamonds UK Ltd., and Petterson Airline Ltd., two companies that finances the project, one for logistic transport operations (Petterson Airline Ltd.) that will give a private jet medium long range with seven hours of autonomy with an European flag but based in Sierra Leone, this will allow to execute transport of metal outside the country (Dubai, Zurich and Antwerp) but will also transport gold inside Sierra Leone from outside countries (Liberia, Cameroon, Mali etc…) this will increase the foreign currency entry in the country because the refinery will be placed in a free-Zone where the goods does not have taxes so this will facilitate the close countries to bring it at the refinery, and the refinery will pay the needed taxes of exportation to the government, which will increase the GDP in a low amount of time.
Petterson Diamonds UK Ltd., will be the company which finance the refinery and all other expenses needed, but will also do “The Broker” for the Sierra Leone company for the gold and as a ‘Filter” to reduce the losses of percentage of money on the basis of the international market.
Savina Diamonds Ltd., initially (year 2017) did not understand certain previous data given by the Mining Authority (200kg per year0 because when we executed site inspections in different mining arrears in Kono (where Savina Diamonds LTD in this days has opened an office with the purpose of collecting gold and which will be active from September) Kabala, Bo and Kenema, the quantities of gold in the different villages was very noticeable with different purity but very noticeable, without counting all of it we can say that the total was 60/70kg per week, so the data we read by the Mining Authority did not match, we stayed many months monitoring and speaking the people and we found out that Guinea has removed the tax of exportation since 4/5months to increase the income of foreign currency, we also noticed that 90% of the gold extracted goes in Guinea, and that foreign buyers buy the gold with foreign currencies fooling the local people with the exchange rate or even with the fake scaling/weight of the gold, this is how the official exported gold data has been tricked, this won’t happen with the refinery for this reasons:
- The miners have a point of reference for the collection of the metal, and they are informed day by day of the value of buying on the basis of the international fixing.
- The price will be communicated in Karats, Grams and even by KG all this in US Dollars and the daily currency exchange rate, this to give total transparency.
- Will be done through Sierra Leone Commercial Bank (Where Savina Diamonds Ltd., is client)
- We choose Sierra Leone Commercial Bank because it is the bank with most branches which are located everywhere in the country, you can find it even in the smallest of the village.
- Savina Diamonds Ltd., will ask to open a bank account for the regular miners that flows the gold regularly to make the transaction more transparent and avoid recycling of money, and we will also have a trace of the metal as requested by the International Standards and the LMBA (LONDON MARKET BULLION).
In the refinery will be built an office used as custom for the arrival and departure of the goods, an office for the police and an office for the immigration for the inspection of the people that enters the free-zone.
We already believe that in first year ten million dollars will be the increase in GDP for the country, without counting the benefit of the free-zone which will be an income commerce with the refinery with the near countries.
Savina Diamonds Ltd., will give job to the local people with professional courses from engineers of ITAL IMPIANTI which will follow the starting of the refinery and will teach every single employer.
Savina Diamonds Ltd., together with ITA IMPIANTI has executed a base implant, followed by a testing laboratory for assay, melting room gas or induction (melting will be possible in minutes and with a capacity of 15kg each), an analyzing machine “laser” to identify the purity of the metal in 26 seconds time so that the client does not waste his time, and the room of refining where the gold of 18/21/22/23karats purity will reach the 24kt stadium the said 99,999% for the financial market.
If the production will increase, we will have to buy another refining machine and we will easily reach the 100kg mark daily, but for now this would be senseless since the official data report we know reaches only 200kg early.
The refinery will help the government to have a structure as international level, this will give security to the new foreign investors (buyers) and won’t lead them in scams which we all know are daily basis especially in the Capital. For example our office in London and our agents in Sierra Leone receive agreements and offers every day, we track the person down and fine out that all this was inexistent, fake gold in huge quantities, because this people send us FCO’s of 200kg of supply and they try to attract buyers and sell them fake gold, and saying that we have to deposit the taxes in cash and not through bank otherwise they get arrested and they make a local company and vanish. For a foreigner this is a trauma, the foreigner does not go to the police because they convince him that he’s having some benefits, at the end he will never see this money again, in the meanwhile the scammer has already changed phone number and location, impossible to find it again and this is why investors vanish from Sierra Leone and in the international market the voices spread fast and the trust goes down.
Savina Diamonds Ltd., more specially the director has experienced all this, the questions this scammers ask are always the same, which hotel are you staying at? Do you have a consulate? Do you have friends in Sierra Leone? All this before giving you an appointment, (We have to understand that the foreigner pays the flight ticket, Hotel, Food etc…) and after they tell you that the boss is coming in a few days and you have to wait for him so that they can organize the scam. The day of the appointment you reach an house, plenty people inside, strange people, they lead you in different rooms, they study you and who is with you, your manners, then “a boss appears, they say that the gold is in the mine but coming but they have 1kg here that you can check then they ask to bring cash for the taxes of the 100kg and if you pay them, well, you have lost everything.
With a refinery, this won’t happen again, seller will be checked upon arrival (mining licese and everything requested by the mining authority) all the gold will be checked and after melted and the refinery will be the guarantee for both buyer and seller, moreover the refinery can export to the buyer even if he doesn’t live in Sierra Leone and transport it, the buyer does not need to pay the taxes and an account will be opened at the Sierra Leone Commercial Bank or banks that the refinery classified as secure for the transaction.
The refinery of Savina Diamonds Ltd., will be a benefit for the government for the monitoring of gold, for the taxation, for the monitoring of legal and illegal on the market. With this refinery the miners and mines will be safe because bank transparency and innovation, and Savina Diamonds Ltd., with his partner’s Petterson Diamonds UK Ltd., and Petterson Airline Ltd., will be pleased to leave a mark on the advancement at the new innovative government of Sierra Leone.
The director of Savina Diamonds LTD in strict collaboration with the minister of trade, mines and aviation and all other ministries that his Excellency the President of Sierra Leone will include to define this project and give the date of starting.
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