Italian entrepreneurs own a gold mine — The Inti Gold Global story
Owning a gold mine would seem to be a scene out of an old western movie, but it can become a reality. This is the story of two Italian entrepreneurs, Davide Bongiovanni and Alessio Vinassa, who in 2010 decided to found a gold mining business. Today this company exists and is called Inti Gold Global, and is an open-cast mine in Burkina Faso, West Africa.
The decision to begin this company was made because gold is a finite reserve, in which demand is always on the increase. The price for an ounce for gold reached $1,506.65 on 20 August.
The dream of any entrepreneur is to have a product for which there is always a request to buy and, when it comes to gold, your product will always certainly have buyers. The big question years ago was how construction of a mining company in Africa would work. Bongiovanni and Vinassa were partners in a company that was yet to be born.
The first step was to settle upon a site. The extraction of gold from ore becomes economically convenient when the concentration of the metal is higher than 0.5 ppm (0.5 grams per ton); in large open-cast mines the typical concentration is between 1 and 5 ppm. The first glance was towards Burkina Faso, a nation known for its numerous gold mining sites. Burkina Faso is the third largest site for gold exploration in Africa and the 4th largest gold producer in Africa. An added advantage was that the members already contacts there.
Once an area of land was identified, there was then a soil analysis. That soil analysis produced positive results. Davide Bongiovanni and Alessio Vinassa bought their first land concession in 2013. The analysis identified a high concentration of gold and indicated the possibility of gold veins that extended deep into the ground, to approximately thirty meters. They proceeded to obtain the necessary permits from the government to extract the gold and the Inti Gold Global 2 company was officially born.
With their savings, Davide Bongiovanni and Alessio Vinassa bought the first machinery for extractions in the surface layers, including the first excavator, a truck, a backhoe loader, and two mills. They also used this money to pay the first employees. After weeks of sweat, work, and peanut-based meals, the first gold was unearthed.
Step by step, they proceeded with construction of the open-cast mine plant. This ambitious and unusual project began to attract curiosity in the Italian panorama. People eager to become part of the project became valuable contributors when allocating funds to company Inti Gold Global 2. Thanks to their participation, the speed increased, as Bongiovanni and Vinassa were able to buy the machinery and necessary equipment for the extraction site more quickly.
The work also had to proceed through difficulties. Being present in Burkina Faso and proceeding even during the rainy months were hard for the founders. Delivering machinery received by sea to the middle of nowhere and without paved roads was a challenge, too. Over the years they have realized the initial goal of creating an open-cast mine that created jobs for the inhabitants of the area and respected the environment.
Today, the Inti Gold Global 2 mining site is nearing completion. An investment fund has shown an interest in participating in the company project. An investment fund is a financial instrument comparable to a large piggy bank where the resources of small and large investors come together. The management of the “piggy bank” is entrusted to an investment management company that offers the advantage of a professional investment service to all participants. The entry of the fund would increase its value exponentially. The value of gold grows, as does the Inti Gold Global 2 gold mine, from what originally was just an idea.