HERMES PRECIOUS MINERALS LTD (https://hpm.gold) was established as a private company limited with shares in December 2012 in Ghana,with Reg.No. CS11546012 at Registras Generals Department with the mandate to undertake the following activities:
The shareholders vision is to effectively provide the above stated services accross the country and abroad.This goal is supported by the shareholders significant experience in the precious minerals business as well as the fact that HERMES PRECIOUS MINERALS LTD (H.P.M) sister company (W.A.R.E LTD) has designed,engineered and constructed the second biggest GOLD REFINERY in AFRICA (GOLD COAST REFINERY) which is located very close to KOTOKA INTERNATIONAL AIRPORT (K.I.A).
H.P.M is currently mining alluvial gold in the Eastern region and is performing prospecting activities at its own mining concession at Prestea (Western region).
Trading of Gold by H.P.M is an activity that commenced in 2016 by purchasing Gold from local suppliers,mainly small scale miners and selling it locally.In 2020 H.P.M expanded its trading operations by cooperating with a reputable Gold trading company registered in Ghana.During the period of 2020 - 2022, H.P.M together with its local partner purchased and exported an average weight of 500 Kgs of gold per month to various international destinations which included Dubai,India,H.K,U.S.A and Turkey.
The above was mainly achieved because of the cooperation of the two companies, the extended network of suppliers that the two companies have as well as the deep knowledge of the local market.
The above cooperation lead the two companies to continue the succesfull past perfromance by joining forces and operate solely under the name of H.P.M. since February 2023.
In March 2024 H.P.M and Glico General Insurance (glicogroup.com) agreed to cooperate in order to add value to the Gold trade business in Ghana.Based on this cooperation the two companies agreed that Glico General Insurance would issue advance payment guarantees to HPM’s clients to secure the faithful performance obligations of HPM. The guarantee is that, if HPM fails to supply the gold or return the advance payment, GLICO General shall reimburse BUYER or cause gold to be supplied to BUYER. In addition to the above GLICO General will issue a Precious Metals (Transit and Premises Risks) Insurance reinsured by Lloyd’s of London to HPM with the BUYER as Loss Payee.
In June 2024 a strategic partnership between H.P.M and the Gold Coast Refinery (G.C.R) (https://goldcoastrefinery.com) was materialized.Based on this agreement H.P.M together with the G.C.R agreed to purchase Gold from Ghana and other African, Non-blacklisted Countries refine it and export it to major international buyers. Both H.P.M’s and G.C.R’s sourcing and selling operations are fully committed to:
1) Neither tolerate, nor by any means profit from, contribute to, assist with, or facilitate the commission by any party of:
a. any forms of torture, cruel, inhuman, and degrading treatment.
b. any forms of forced or compulsory labor.
c. any form of child labor as defined in Convention 182 of the International Labour Organization (ILO).
d. human rights violations and abuses such as widespread sexual violence;
e. war crimes or other serious violations of international lhumanitarian law, crimes against humanity or genocide.
2) Not to enter into any business relationship, or immediately suspend or discontinue engagement with precious metals supplying counterparties where we identify a reasonable risk that they are sourcing from, or are linked to, any party committing serious abuses as defined above. Gold Coast Refinery Limited Precious Metal Supply Chain Policy 5 / 5 3. Not to tolerate any direct or indirect support to non-state armed groups through the extraction, transport, trade, handling, or export of precious metals. This includes, but is not limited to, procuring precious metals from, making payments to, or otherwise providing logistical assistance or equipment to non-state armed groups or their affiliates who: control mine sites or otherwise control transportation routes, points where precious metals are traded and upstream participants in the supply chain ;and/or tax or extort money or precious metals at points of access to mine sites, along transportation routes or at points where precious metals are traded; and/or tax or extort intermediaries, export companies or international traders. 4. Not enter into any business relationship, or immediately suspend or discontinue engagement with upstream suppliers where we identify a reasonable risk that they are sourcing from, or are linked to, any party providing direct or indirect support to non state armed groups as defined above.
3) Not attempt to improperly influence others or offer, promise, give or demand bribes or kickbacks in any form, and will resist their solicitation, and will not permit Company funds, assets, or property to be used to benefit any individuals, including government officials, our customers, contractors, and suppliers illegally or in ways that violate this policy.
4) Exclude any direct or indirect support to illegally acting public or private security forces, as we recognize that the role of public or private security forces at the mine sites and/or surrounding areas and/or along transportation routes is solely to maintain the rule of law, including safeguarding human rights, providing security to mine workers, equipment, and facilities, and protecting the mine sites or transportation routes from interference with legitimate extraction and trade. Should we identify a reasonable risk that any upstream participants in the supply chain directly or indirectly support illegally acting public or private security forces, we will immediately suspend or discontinue engagement with them.
5) Not offer, promise, give or demand any bribes, and resist the solicitation of bribes to conceal or disguise the origin of precious metals, to misrepresent taxes, fees and royalties paid to governments for the purposes of precious metals extraction, trade, handling, transport, and export.
6) Support efforts, and/or take steps, to contribute to the effective elimination of money laundering as well as terrorism financing where we identify a reasonable risk of such illegal practices resulting from, or connected to, the extraction, trade, handling, transport or export of precious metals derived from the illegal taxation or extortion of precious metals at points of access to mine sites, along transportation routes or at points where precious metals are traded by upstream participants in the supply chain.In this regard we will immediately report to the Financial Intelligence Centre (FIC) any suspicion of any illegal financial transaction we should recognize.
7) Not disguise the origin of precious metals, or misrepresent taxes, fees and royalties paid to governments for the purposes of extraction, trade, handling, transport, and export of precious metals.
8) Systematically perform due diligence, including the Know Your Customer process, following a risk-based approach before entering into a business relationship with any precious metals supplying counterparties in accordance with the OECD Due Diligence Guidance, and the RJC Code of Practices requirements.
9) Refuse to source precious metals from illegal mining operations, as well as from any counterparties which do not comply with local and international laws and/or internationally accepted environmental standards and practices.
10) Refrain from any action which might contribute to the financing of conflict and conform with all relevant United Nations sanctions resolutions or, where applicable, domestic laws implementing such resolutions.
11) Only deal through official banking channels for financial and precious metals transactions.
12) Require our business partners and in particular all precious metals supplying counterparties to mutually cooperate by committing to, and acknowledging in writing their compliance with, a supply chain policy consistent with Annex II of the OECD Due Diligence Guidance Model Policy for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas for all interactions with Gold Coast Refinery Limited.
13) Adequately store and maintain all records and documentation relating to the precious metals supply chain in order to demonstrate that appropriate and on-going due diligence has been followed for a period of 10 years. according to local applicable law.
The above policies together with H.P.M’s ability to export gold at the buyers destination, with full compliance to the statutory and regulatory requirements of Ghana and the international standards, has made H.P.M a trustworthy and reliable supplier of gold to its local and international clients.