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Commodities Exchange Wants to Intermediate Sale of Precious Stones

Commodities Exchange Wants to Intermediate Sale of Precious Stones

The sale of precious stones such as rubies, gold and emeralds, as well as carbon credits, may pass through the intermediation of the Mozambique Commodities Exchange (BMM).

The institution currently conducts auctions of agricultural products, as well as intermediating the sale of products according to their availability.

The Chairwoman of the Board of Directors (PCA), Vitória Paulo, said that the future vision of the BMM was to move into the mining sector and that an operating mechanism for the electronic platform, the Information and Trading System (SINEM) had already been presented to the Ministry of Mineral Resources and Energy (MIREME), Domingo reported.

The system is seen as an alternative for organising the sector in general, with a greater impact on artisanal miners, who in order to market their products will have to set up cooperatives and have access to a greater number of international customers.

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The positioning advocated by the BMM should allow for greater revenue collection by the state, and eliminate the practice of selling minerals at random prices set by buyers.



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