PEARL Gold AG

Environmental & Social Information • May 29, 2012

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Corporate | 29 May 2012 14:10

Pearl Gold AG: ‘Equal sharing of resource revenues is essential for political stability in Africa’

Pearl Gold AG / Key word(s): Miscellaneous

29.05.2012 / 14:10

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'Equal sharing of resource revenues is essential for political stability in Africa'

Aliou Boubacar Diallo, Supervisory Board member of Pearl Gold AG and Chairman Wassoul'Or S.A., speaks at Africa Business week in Frankfurt

Frankfurt, 29 May 2012 – At the occasion of the Africa Business Week, Aliou Boubacar Diallo, member of the Supervisory Board of Pearl Gold AG, last Thursday held a keynote speech at the Resources and Mining Conference in Frankfurt. In his speech 'How to conciliate the interests of resource rich countries and foreign investors' he highlighted four essential points to take account of the different interests: a clear and fair legal framework, investment security given by mining and oil codes, the involvement of African nationals and, most importantly, political stability.

These key points form the basis for the development of African countries through collaboration with foreign investors. They furthermore are essential for sustainable peace. Diallo's approach to a solution is to fairly distribute the profits gained in the mining sector. 'An equal sharing of revenues from the mining and oil industry between the different regions of each African country, as an alternative to the state keeping a fundamental stake, is necessary for political stability and a peaceful environment', declared Diallo. He added that the dividends for the different regions should be invested in education, health and infrastructure. In this context Diallo mentioned the importance of the Extractive Industries Transparency Initiative (EITI) with its Chairman Dr. Peter Eigen that has been established in 2003 in order to prevent corruption in developing countries. Mali is one of 12 countries that have the status as EITI Compliant countries. EITI has implemented reporting guidelines that mining companies disclose their yearly payments to the government. The state in turn increases transparency to the public with a statement of these payment flows and its use.

Diallo is the founder and owner of the Malian mining company Wassoul'Or S.A., in which Pearl Gold holds a 25 percent stake, and that has made significant contributions to the membership of Mali in the EITI. He encourages the involvement of national mining companies in the exploitation of mineral resources wherefore Wassoul'Or is an example. The investment of Pearl Gold, which is listed on the Frankfurt Stock Exchange, enables them to develop their business activities.

The Africa Business Week is a conference week in Frankfurt which is dedicated to the collaboration of African and European economy. It provides a platform for business development with the African continent.

Pearl Gold AG

Pearl Gold AG is a holding company listed on the Open Market of the Frankfurt Stock Exchange, based in Frankfurt. The company focuses on investments in West African exploration and mining corporations, especially in the field of gold and other precious metals. The first investment of Pearl Gold is the Malian mining company Wassoul'Or, in which Pearl Gold holds 25% of shares. Wassoul'Or concentrates on the exploration and production of gold and runs the Kodieran gold mine in the South of Mali.

For further information visit http://www.pearlgoldag.com

For Inquiries:

MSL Financial

Steffi Fahjen

Email: steffi.fahjen@mslgroup.com

Tel: +49 (0) 69 6612456 8394

End of Corporate News

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171846  29.05.2012