The Kimberley Precious Metals and Gems Process Management Unit (UGPK) has been granted financial and asset autonomy following the approval of a document by the government that revises decree no. 64/2021, of September 1, which established the terms for the creation of the entity.
“The revision of the decree aims to give the Kimberley Precious Metals and Gems Process Management Unit financial and asset autonomy,” said a statement released after a session of the Council of Ministers.
The UGPK is a public institution subordinate to the Ministry of Mineral Resources and Energy, with the responsibility of guaranteeing legality in the tracking of the production, import and export of rough diamonds, precious metals and gems, as well as ensuring compliance with the standards of the Kimberley Process and the Certification System.
By joining the Kimberley Process, Mozambique has committed itself to international efforts to prevent illegal diamonds from financing conflicts.
At the end of last year, the UGPK and the Bank of Mozambique signed a memorandum of understanding to coordinate the prevention and fight against money laundering, terrorist financing and the proliferation of weapons of mass destruction, reinforcing Mozambique’s position in complying with international standards and promoting transparency and legality in the trade of precious metals and gems.
