SigraFi raises $35M to connect artisanal gold to institutional markets
UK company purchases gold under multi-year contracts from organised artisanal and small-scale gold mining cooperatives.
UK-based gold offtake firm SigraFi has secured $35 million in credit to finance its gold supply operations. Led by UAE-based Ronin Commercial Brokers LLC, the consortium of British and UAE investors will provide SigraFi with the necessary capital to expand its partnerships with artisanal and small-scale gold mining cooperatives in the DRC, Zambia, and South America.
SigraFi purchases gold under multi-year contracts from these cooperatives, which account for 25,000 miners in Ituri Province, eastern DRC, through its partnership with PeaceGold. Established in 2013, PeaceGold helps formalize artisanal mining and reintegrate former combatants into regulated work, serving as an aggregator and export partner for its cooperatives.
SigraFi provides guaranteed offtake agreements at competitive pricing, allowing cooperatives to capture a larger share of the value of their gold. With global mined gold production expected to plateau in the coming years, while artisanal gold producers already account for at least 20% of newly mined gold, SigraFi aims to bridge the 'Golden Gap' by connecting these producers with the formal market.
SigraFi's executive chairman, Stefan Allesch-Taylor, emphasized that artisanal miners are often excluded from the formal market due to a lack of capital, compliance support, and buyers. This new facility empowers the cooperatives, offering them a direct, traceable route to the global gold market.
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