Trafigura to help Venezuela's Minerven develop a responsible gold-sourcing programme

Trafigura agreed a pre-payment deal to purchase gold dore from Venezuela's state miner Minerven and will develop a responsible sourcing programme as part of the arrangement. The deal secures a supply channel for semi-pure gold dore and signals attention to ESG/compliance requirements, while creating exposure to Venezuelan sovereign and reputational risk for the trader.

Analysis

Trafigura agreed a pre-payment deal to purchase gold dore from Venezuela's state miner Minerven and will develop a responsible sourcing programme as part of the arrangement. The deal secures a supply channel for semi-pure gold dore and signals attention to ESG/compliance requirements, while creating exposure to Venezuelan sovereign and reputational risk for the trader.