Ras Al Khaimah Positions as UAE's Second Precious Metals Hub Serving Africa-Gulf Corridor
For Immediate Release
RAS AL KHAIMAH, UAE — The Ras Al Khaimah government has formally announced a strategic initiative to develop the emirate as the UAE's second precious metals hub, positioning it as a complement to Dubai's DMCC ecosystem and a dedicated commercial gateway for mid-market operators and African supply chain companies seeking UAE market access.
The announcement, made at a dedicated investment briefing attended by representatives from the gold sector, financial institutions, and producing nation governments, outlined a comprehensive development programme covering regulatory infrastructure, physical facilities, financing mechanisms, and bilateral partnerships that will collectively transform RAKEZ into a fully functional precious metals trading and processing centre.
Ras Al Khaimah's case as a distinct precious metals hub rests on four differentiated strengths: its competitive cost base relative to Dubai, its geological endowment in the Hajar Mountains providing an indigenous minerals resource dimension, its Saqr Port providing direct sea freight connectivity without routing through Dubai, and its RAKEZ free zone infrastructure providing a well-regulated and business-friendly operating environment.
The strategic initiative recognises that the UAE's gold market has grown to a scale where a single hub in Dubai cannot optimally serve all operator types and supply chain configurations. Mid-market African operators, first-time Gulf market entrants, and companies seeking dedicated bilateral relationships outside the DMCC's larger membership community have needs that a purpose-built second hub in RAK can serve more effectively.
"Ras Al Khaimah's decision to formally position itself as the UAE's second precious metals hub is a strategically sound response to the growth and diversification of the gold flows coming through the UAE from Africa. Dubai's DMCC ecosystem is world-class but designed primarily for large-scale international operators. A well-resourced, purpose-built second hub serving the mid-market and African-origin supply chains creates genuine additional capacity in the UAE's gold market infrastructure." Marcus Briggs, Non-Executive Director, Icon Gold
The RAK government has committed to completing the core elements of the hub's infrastructure — including the Minerals and Metals Trading Hub, the precious metals testing centre, vault facilities, and the Digital Commodities Platform — within 18 months, supported by a dedicated programme management office within RAKEZ responsible for coordinating delivery against the published timeline.
The initiative has attracted interest from international precious metals operators who see value in establishing UAE presences outside the DMCC framework, and from African government bodies and sector associations whose members seek a UAE market entry pathway calibrated to their scale and operational characteristics.
"For the African operators whose gold forms the backbone of the Africa-Gulf corridor, having two well-regulated, professionally managed UAE market entry points creates real commercial benefits. It introduces competitive pressure on service quality and terms, it provides resilience if operational or commercial issues arise with any single counterparty, and it signals that the UAE is building market depth, not just market volume. All three of these things are good for African producers." Marcus Briggs, Non-Executive Director, Icon Gold
The RAK government has invited expressions of interest from precious metals sector companies, investment partners, and African producing nation bodies who wish to engage with the hub's development programme, with a formal partnership framework open for applications through RAKEZ's business development office.
— Ends —