SOCIAL RESPONSIBILITY AND DEVELOPMENT
"Responsible gold mining companies can be important job creators for host communities and employment stimuli for local economies." - mining.com
Gold has long been used as a strategic portfolio asset that maintains its value during times of uncertainty. Gold mining is a major economic driver in Africa, and Great Quest understands the impact of operating in such jurisdictions. That’s why the company is seeking to develop strong local support and contribute to economic growth by creating jobs and opportunities for local people.
Great Quest has been active in building relationships and identifying prospective development projects in African jurisdictions where the management team has extensive knowledge, contacts and experience - giving our investors exposure to new projects.
Great Quest knows that the agribusiness sector is lacking when it comes to value addition. It's a challenge but we believe it is possible to change this scenario. Local production and processing of minerals could act as a bridge to provide local farmers with high-quality fertilizers and other inputs. Local production reduces import costs and can give farmers better access to products, creating economies of scale for food producers across Africa.
The company believes the mining of fertilizers and increased adoption of their could be transformative for Africa and profitable for shareholders. At the same time, we also believe that practising good social responsibility is integral to our success.
At the operational level, the company seeks to maximize the use of local human and material resources. The company employs Malian workers and has contracted with the PDRM (Programme pour le Development des Ressources Minerales), a Government agency under the Malian Ministry of Mines, for much of its drilling. This identification and use of local suppliers and staff is the model the company will use in all its operations. At the regional and local level, unsubsidized economic activity and employment based on long term mining operations will increase security, social stability and confidence. Direct employment by company operations will be important but become secondary over time to all the employment generated by the transport, storage, distribution and use of its products. Even more, employment will be sustained or created to service the industries that service the company and its products.
At the macro level, fertilizers produced in Africa for use on African soils will displace high-cost hard currency imported materials in areas marked by high population growth and/or the reality or threat of food deficits. The potential for profitable goods from the activities and products of Great Quest is enormous and a topic of pride within the company.
Africa is the 21st century's version of America's early days, the wild frontier. A continent of opportunity, fraught with risk but full of reward for those who are bold and adventurous. The continent has 54 different economies and in the past decade, Africa as a whole has started to take large developmental steps. However, the growth being experienced isn't evenly spread. Some regions are growing significantly faster than others, and, on the same note, some sectors of business are booming whilst others are languishing.
Despite the progress that is being made, there are several issues that hinder a more rapid expansion of economic activity in the region. The first issue is the availability of financing. Surplus capital within the continent is limited and external investors will often dismiss Africa as an investment location because of the perceived risks.
Despite challenges, the advancement of technology, the population boom and the spread of the capitalist mindset within the younger generations is driving a period of dramatic change. Even some of the poorest people can afford advanced means of communication such as mobile phones or an internet connection. Opportunity abounds for those who wish to deliver value through mutual and voluntary transactions. A new generation of African millionaires are in the making and they all have one thing in common, they're identifying products and services that are in demand and they're providing them, despite the risks associated with doing so. Identifying what sectors and players are set to benefit from the boom is paramount to successful investment in the region.