Why is it important for IGM to participate at Mining in Motion as a sponsor?

The summit is an opportunity to exchange ideas, knowledge and opportunities. New partnerships will strengthen markets and drive innovative solutions to challenges in the industry. The event offers space for learning, enhanced visibility and cultural exchange, and helps organizations like IGM stay updated on industry trends and best practices. We seek collaboration with participants in the global gold ecosystem thus by extension, with the Ghana gold industry ecosystem, to help us strengthen the gold ecosystem in India

What does your investment strategy look like in Ghana and the continent at large?

IGM is open to explore and study gold sourcing options. This would naturally have backward linkages and will also contribute to economic development and job creation in the mining economy and assist in modernizing the artisanal and small-scale mining (ASM) sector.

What role do Indian companies play in the growth of Ghana’s gold sector?

India is a major market for gold, at par with China, and it is the world’s largest market for jewelry. Indian households hold 25,000 tons of gold, surpassing the combined gold reserves of the world's top 10 central banks and close to 12% of all the gold ever mined. India hardly mines any gold, and while some of its gold demand is met from local production and recycling, imports are by far the largest source of supply – with official imports in the fiscal year 2024-25 reaching 757 tons. About two thirds of imports are in the form of refined gold bars, and one third comes as gold doré. The gold bars are mostly imported from refineries in Switzerland, the United Arab Emirates and South Africa, and the gold doré from Peru, Ghana, Bolivia and Guinea. India has recently adopted the policy of strengthening the ‘Global South’ and to further this resolve, has been exploring new markets across the globe.

IGM is looking to strategically leverage global gold supply chains while prioritizing and optimizing ethical as well as sustainable sourcing to meet domestic needs.

What unique opportunities does IGM offer to markets such as Ghana and other African producers?

With Ghana being Africa’s top gold producer and the gold industry being a crucial component of the Ghanaian economy, it is a strategic opportunity for the country to secure the large and growing Indian market. The Ghanaian government has made significant efforts and has achieved some degree of success in formalizing the ASM. Further supporting these efforts by securing markets with large offtakes will have a deep impact and enable Ghana to tap into its still-unexploited opportunities to further increase ASM production.