On June 27, the U.S. government joined forces in issuing an “Africa Gold Advisory” warning businesses of the significant risks posed by engaging in any transactions with the African Gold Sector. This stern warning was fueled by the activities of the Wagner Group – recipients of U.S. sanctions for their nefarious doings – who have continued to reap revenue from the African gold sector in Sudan, the Central African Republic, and Mali.
The Advisory's 29-page document elucidated two primary categories of risk associated with transacting with this sector: "upstream" risks relating to large-scale and small-scale mining operations and downstream risks relating to smuggling and money laundering. You can read the entire article here: U.S. Government Issues Africa Gold Advisory | Katten Muchin Rosenman LLP - JDSupra
