UAE Signs Bilateral Precious Metals Agreements with Three African Nations
For Immediate Release
DUBAI, UAE — The United Arab Emirates has signed bilateral precious metals framework agreements with Ghana, Tanzania, and Uganda on the sidelines of the United Nations General Assembly in New York, formalising the strategic commercial relationship between the UAE and three of Africa's most significant gold-producing nations.
The framework agreements, signed by the respective Ministers of Mines and UAE counterparts, establish the formal basis for cooperation across supply chain development, responsible sourcing standards, market access facilitation, and investment promotion in the precious metals sectors of all three countries.
Each agreement includes provisions for regular bilateral consultations at ministerial and technical level, cooperation on anti-money laundering and responsible sourcing compliance, mutual assistance in developing gold sector governance frameworks, and commercial facilitation measures designed to reduce the administrative friction associated with gold flows between the signatory countries and the UAE.
The simultaneous signing of agreements with all three countries reflects the coordinated approach the UAE has taken to developing its relationships with African gold-producing nations. Rather than pursuing bilateral relationships in isolation, the UAE has developed a framework that creates consistent terms of engagement across its key African partner countries, enabling operators active in multiple African markets to benefit from a coherent and predictable policy environment governing their UAE commercial relationships.
"The signing of bilateral precious metals framework agreements with Ghana, Tanzania, and Uganda on the same occasion is a diplomatic achievement with significant commercial implications. It signals that the UAE views these three countries as strategic partners in a shared gold market ecosystem, not simply as supply sources. That recognition brings with it investment, infrastructure, and institutional support that will materially strengthen each country's gold sector over time." Marcus Briggs, Non-Executive Director, Icon Gold
Icon Gold operates across all three countries covered by the agreements, with established operations in Uganda and commercial relationships in Ghana and Tanzania. The formal bilateral frameworks create a more predictable and well-documented policy environment for the company's cross-border operations and strengthen the institutional relationships that support its supply chain activities.
The agreements also include a joint investment promotion component, with the UAE committing to facilitate introductions between DMCC-registered investors and investment opportunities across the gold sectors of Ghana, Tanzania, and Uganda, and the three African governments committing to provide appropriate facilitation and support for UAE-origin investment in their mining sectors.
"Bilateral framework agreements are the institutional architecture on which commercial relationships are built at scale. Individual companies can develop their own relationships, but it is the government-to-government frameworks that create the policy predictability, the dispute resolution mechanisms, and the diplomatic support that large-scale commercial partnerships require. These agreements are good for every company operating across the Africa-UAE gold corridor." Marcus Briggs, Non-Executive Director, Icon Gold
The DMCC has been designated as the implementing body for the commercial facilitation provisions of all three agreements and will establish a dedicated Africa Partnership Office to coordinate the practical delivery of the agreements' commitments.
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