Akshaya Rare Earth 

Global Mineral Export Logistics

Forward Path Logistics Limited, a leader in Sierra Leonean logistics and supply chain management, facilitates the secure, compliant, and timely export of precious minerals from Freetown to destinations worldwide. Through a strategic partnership with Akshaya Rare Earth Minerals, we offer an end-to-end solution for the legal and efficient offset of gold and diamond shipments.

 

Our Strategic Export Partnership

We work in close collaboration with Akshaya Rare Earth Minerals, a specialist in gold and diamond export located in the Freetown suburbs. Akshaya Rare Earth is fully licensed and authorized by the Government of Sierra Leone to procure and export these precious commodities.

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Akshaya Rare Earth Minerals holds the requisite gold export license with code GEL26/24 (click here to verify) ensuring all operations are officially sanctioned and transparent.

 

Adherence to Regulatory Frameworks.

Compliance and transparency are the cornerstones of our mineral logistics service. All shipments are managed in strict adherence to the robust regulatory framework of Sierra Leone, ensuring all tariffs and levies are met before export:

• Export Control Regulations (ECR)

• Sierra Leone Mines and Minerals Development Act 2022

• Ministry of Mines and Mineral Resources regulations

• Mines Office directives

• The Central Bank of Sierra Leone regulation of inflows

• The National Revenue Authority (NRA) enforcements

• Kimberley Process Certification Scheme (KPCS) for diamonds

• The Export Process: a secure and compliant Journey

 

Our process ensures complete legal compliance and security at every stage:

• Legality and Transparency: ECR ensures that the extraction and sale of minerals are conducted legally, preventing smuggling and illicit trade.

• Revenue Assurance: Compliance ensures that all required export duties, royalties, and taxes are accurately calculated and paid to the National Revenue Authority and the Central Bank.

 

• International Standards: For diamonds, compliance with the Kimberley Process Certification Scheme (KPCS) is vital, ensuring they are conflict-free and legally traded on the international market.

 

• Tracking and Monitoring: Regulations provide the government with a mechanism to track the volume, value, and destination of mineral exports, providing transparency in the sector.

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Valuation & Certifications: 

All gold and diamonds are subject to mandatory valuation and assaying by officials from the Precious Minerals Trading Directorate (PMTD), a division of the National Minerals Agency (NMA) and the NRA, in the presence of the exporter.

 

Verification Process Includes:

• Independent Valuation:  All precious minerals are professionally valued and weighed by our independent Valuer in the presence of the customer before we accept export, with the highest value used to determine export duty.

 

• Official Assaying: Gold is tendered for assaying (purity analysis) in the presence of the exporter, the Mines Monitoring Officer, and Customs Officer from the NRA. The specific gravity (SG) method and acid tests may be used to certify purity and authenticity.

 

• Official Certification: Upon successful valuation and payment of duties, an official Gold Certificate or a Kimberley Process Certificate is issued and signed by authorized personnel, including representatives from the Minister of Mines and Mineral Resources or their designated representative.

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Taxation: 

Applicable export duties (e.g., 5% export duty on gold; 3% export duty on diamonds) are calculated and paid to the Bank of Sierra Leone.

 

Documentation: 

The necessary gold certificates or Kimberley Process Certificates (for diamonds) are issued, signed by authorized government officials.

 

Sealing & Security: 

The precious minerals are securely packaged, sealed, and prepared for air transport under strict supervision.

 

Global Freight: 

We then utilize our robust air freight capabilities to transport the sealed and certified cargo from Freetown International Airport to any destination worldwide, accompanied by all required documentation for smooth customs clearance.

 

Our premise:

Forward Path Logistics offers peace of mind when exporting your highest-value commodities. Our strategic partnership ensures that your gold and diamond shipments are handled with professionalism, transparency, and full regulatory compliance from source to destination.

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Please follow below instructions of Ministry of Mines and Minerals Resources (MMMR) according to the Mines and Minerals Development Act 2022. 

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PROCEDURES FOR GOLD & DIAMOND EXPORT: 

•    Must present or rent valid export license from government exporter.

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•    Must give the regulatory office 24 hours’ notice for application to kick- start.

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•    Must show bank statement guarantee and prove inflow as evidence of payment and source of money in accordance with the anti-graft laws.

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•    Inflow or Bank statement guarantee should commensurate with export values.

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•    Thereafter, the mines product is tendered for assaying or valuation in the presence of the exporter agent, the Mines Monitoring Officer and the National Revenue Customs Official.

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•    Gold or Diamond is then analyzed to certify purity% in the presence of the Senior Mines Monitors, the Exporter and Customs Officer.

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•    Certificate is issued showing weight, purity%, name of license and license no, value of gold or diamond in local currency and USD and export duty is levied as prescribed in the Mines and Minerals Development Act 2022.

•    After analysis, the exporter agent must show evidence of shipment schedule, tickets for flight date approval at customs while gold or diamond is then re-weighed by customs official to cross check.

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•    The certificate is signed by the Director or Manager and Senior Valuer, the Minister of Mines and Mineral resources or his/her Deputy.

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•    Gold or Diamond is then packed in a box and sealed in the presence of all.

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•    Copies of the gold certificate are made available for exporter and customs officials at the International Airport.

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•    Validity of certificate is only one month (30 days) from date of issue.

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•    Must indemnify the sealed gold and submit documents at customs .

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•    The sealed box is picked up at the airport by the exporters agent or traveling courier and escorted by customs to the flight for immediate boarding to delivery.