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Building a gold mine: the story of Davide Bongiovanni and Alessio Vinassa

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Building a gold mine: the story of Davide Bongiovanni and Alessio Vinassa

August 30
17:48 2019
Building a gold mine: the story of Davide Bongiovanni and Alessio Vinassa

Gold is a rare metal with sought after physical characteristics. Gold and its alloys are used in jewelery, in minting coins, and are a currency exchange standard for many countries. Thanks to its resistance to corrosion and its remarkable electrical properties, it has found more and more space in industrial applications. Other uses include:

• in electronic components: it carries out critical functions in many computers, telecommunications equipment, jet engines, and numerous industrial applications. It is widely used as a coating material for the surfaces of electrical contacts, to ensure resistance to corrosion over time;

• in the field of astronautics: gold leaf is contained in the spacesuit visors for protection from sunlight, ensuring the necessary shielding, not only from visible and ultraviolet light but also from infrared light;

• for medical purposes, such as making fillings and bridges in dentistry;

• for ornamental purposes;

• in awards; and

• in the culinary field.

Gold has always been a special metal for humanity and is considered a source of wealth since its first extraction, at the time of King Croesus in Lydia in 550 BC. It is found in its native state in the form of nuggets, grains, and specks in rocks and alluvial deposits.

Gold is a limited resource. According to the World Gold Council, an international trade organization that counts some of the major gold mining companies among its members, little more than 190,000 tons of gold have so far been extracted. This amounts to over 6 billion ounces, which may seem like a lot, but which still represents less than one ounce of gold for every inhabitant of the planet. In particular, over two-thirds of the gold has been extracted since 1950. If all the gold ever produced was melted, it would fit in a box of 21 cubic meters or fill up little more than three Olympic swimming pools.

It is not known how much gold is still present in the subsoil, but over the years, more and more relevant data will allow us to understand it within the business of gold mining.

Gold mining is a global business with operations on every continent, except Antarctica, and gold is extracted from mines of widely varying types and scale. In this article, we will tell the story of a gold mining company based in Africa and with Italian blood: Inti Gold Global 2 Sarl.

Inti Gold Global 2 Sarl operates in the gold mining sector and is based in Burkina Faso, nation of West Africa. Founded by two Italian entrepreneurs Alessio Vinassa and Davide Bongiovanni, who, in 2010, took the decision to create what would be the turning point in their lives. The dream was great, to base an activity on the market of a product whose demand is always greater than the supply: gold.

Davide Bongiovanni, after thirty years in real estate, was determined to realize the project of a lifetime: to open a company in the field of gold, the most precious metal in the world. Alessio Vinassa, with his knowledge in extraction and the strong desire to start his own project, joined Davide Bongiovanni and their new goal. The idea was to build an open-air gold mine in Burkina Faso. The surface mine is a type used to extract deposits of mineral resources near the surface. In most forms of surface mines, heavy equipment, such as excavators, first remove the rock and soil deposit above the deposit. Then heavy machinery, like the bucket excavator, extract minerals.

The location for the beginning of the activity was in Burkina Faso. It is one of the poorest countries in the world, but with an immense treasure. In the superficial layers, between the sand and the gravel, gold dust can be found. Gold strands also run for kilometers under the earth, where the nuggets remain trapped in the rock.

Burkina Faso was chosen both for the vast presence of gold and for the lack of oil. “Black gold” has always been a reason for conflicts, and its absence guarantees a peaceful nation.

To begin the project, Alessio Vinassa and Davide Bongiovanni began the search for the land by much traveling, covering 70 thousand kilometers of dirt roads in six months. In 2013, Alessio Vinassa and Davide Bongiovanni sub-leased their first piece of land. They invested 50 thousand Euros to buy their first excavator, a truck, a backhoe loader, and two mills. After weeks of work, the first gold was brought to light!

The project began to attract attention, and the first financiers made their appearance. Thanks to their contributions, a new concession was purchased. On these lands Inti Gold Global 2 Sarl originated. It is an ambitious undertaking, with the aim of creating an open-pit mine large enough and deep enough to reach the gold veins, where the metal is mostly found. Numerous studies on the ground have identified the gold strands at a depth of about thirty meters, which will be reached by many excavations.

Today, the Burkinabè are working in Inti Gold Global 2, in the role of workers, engineers, cooks, and geologists.

The construction of the plant and the concreteness of the project are goals that have opened the doors to new possibilities. The first investors are interested in participating in the project, entering with Inti Gold Global 2 Sarl into the gold mining sector. For centuries, investing in (physical) gold has proven to be a very effective method for preserving the wealth of those who seek it. In fact, beyond all forecasts, gold has held its value in the most acute phases of recession, such as in the current one. This is one of the reasons that gold prices have risen to a record level in recent years. With the addition of funds to the project, the listing of Inti Gold Global 2 Sarl is setting a new record. But only the first of many! There is a great quantity of gold in their concession, and is only waiting to be extracted.

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