Times Of Swaziland: NIGERIAN FLEW E600 000 SWAZI GOLD BARS TO DUBAI

NIGERIAN FLEW E600 000 SWAZI GOLD BARS TO DUBAI
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BY WELCOME DLAMINI on 12/11/2017 03:54:00


MBABANE – There is evidence that gold of the purest form is being produced at
Lomati Mine (Lufafa) in the northern Hhohho region.
This is in the shape of a one kilogramme gold dore bar that was transport to
Dubai in October 2016 by Lomati Mine Managing Director Mihlakayifani Dlamini. A
dore bar is described as a semi-pure alloy of gold and silver, usually created
at the site of a mine before it is transported to a refinery for further
purification.
The proportions of silver and gold can reportedly vary widely and dore bars are
said to weigh as much as 25kg. The gold was shipped through Nigerian Billionaire
Chief Benjamin Aghalieaku Arenze’s company known as Aghalieaku Airways.
This was before the Nigerian businessman had his company’s Swaziland bank
accounts frozen by the Central Bank because of the latter’s “reasonable
believe there could be elements of criminality involved”.
It is shown in documents seen by the Times SUNDAY that the gold dore bar was
valued at US$41 000, which when converted to the local currency amounted to E593
540.54.
The gold Dore bar was shipped to Al Etihad Gold LCC in Dubai, United Arab
Emirates and was to be handed over to a MR. M Dlamini.
Aghalieaku Airways flew the precious metal consignment, which was in a bag with
a net weight of 2.5 kilogrammes, from the King Mswati III International Airport
and charged Lomati Mine E63 840 for services rendered.
One of the documents signed by Dlamini reads: “For export only. These
commodities were exported from the Kingdom of Swaziland in accordance with the
Mines and Minerals Act No. 4 of 2011 and OECD Regulations. (Our gold is mined in
a conflict free zone with no use of child labour.”)
The gold dore bar had a purity of 24 karat, which according to My Gold Guide,
signifies that it is pure gold or 100 per cent gold.
Karat is basically a unit used to measure the purity of gold (the higher the
karatage, the purer the gold).
When describing a 24 karat gold bar, My Gold Guide states: “This means that
all 24 parts in the gold are all pure gold without traces of any other metals.
It is known to be 99.9 per cent pure and takes on a distinct bright yellow
colour. There is no higher form of gold than 24K and you must be aware of this
before you go to a dealer who might tell you that they’re selling you 25K or
26K gold. Since this is the purest form of gold, it is naturally more expensive
than 22K or 18K gold. However, this type of gold is lesser in density as
compared to gold of a lower karatage which makes it soft and pliable.
Hence, it is not suited for regular forms of jewellery. Coins and bars are
mostly bought of 24K gold purity. 24K gold is also used in electronics and
medical devices such as those used for children suffering from ear infections
who are fitted with gold tympanostomy tubes that are known to improve aeration
of the middle ear.”
It is said that 24 karat gold has the natural warm colour of pure gold and its
colour cannot be changed without changing the purity to less than 24 k.
Also, 24 karat gold is said to contain 24 parts pure gold and its fineness is 1
000 parts out of 1 000 pure.
Meanwhile, Al Etihad Gold LCC, where the Swazi gold dore bar was shipped to, is
reportedly one of the largest and fastest growing gold and silver refineries in
the Arab region.