Question 1

Why should Accra-based gold mining companies consider LCORE over Zurich or London vaults?

Accepted Answer

Switzerland and the UK both apply withholding taxes, VAT on certain gold transactions, and administrative costs that the UAE does not. LCORE's Abu Dhabi vault charges zero UAE tax, provides English Common Law protections identical to UK vaults, and is geographically more accessible from Accra (5-hour flight to Abu Dhabi vs 6.5 hours to London). For Ghanaian miners storing $10M+ of gold, this is a meaningful cost and convenience advantage.

Question 2

Can the Bank of Ghana use LCORE to store foreign reserve gold in Abu Dhabi?

Accepted Answer

Yes. Central banks and sovereign wealth funds are among LCORE's core client profiles. The Bank of Ghana (Ghana's central bank) currently holds part of its gold reserves domestically and part with the Bank of England. LCORE's ADGM-regulated, English Common Law framework is fully compatible with central bank reserve management standards.

Question 3

How do Ghanaian small-scale miners (galamsey) or artisanal gold producers access LCORE?

Accepted Answer

LCORE requires a minimum $5M position, which is beyond the reach of individual artisanal miners. However, Ghanaian gold aggregators, licensed precious metals dealers, and cooperative mining companies that consolidate small-scale production into LBMA-certified bars can access LCORE's vault through the appropriate onboarding process.

Gold Storage for Accra and Ghanaian Investors at LCORE

Gold Storage for Accra Clients