Mines to gain control of yellow metal assets – aims to reduce fraud
SAMAR announces plans to cover entire life-cycle of all assets MIDRAND, SOUTH AFRICA – 25 May 2017 – The Southern African Movable Asset Register (SAMAR) today announces its plans that will allow mines, contractors, manufacturers, importers, builders, banks, insurers as well as the general public to control title and ownership of all movable assets, including yellow metal and other movable assets used during operations. In Africa, many yellow metal assets are crudely marked and registered to businesses. However, SAMAR creates the most recent reliable record of an asset and yellow metal by updating records in real-time as changes are made by various system participants. This allows businesses to effectively manage and control the financing of assets and yellow metal not on eNaTIS throughout their lifecycle. This greatly reduces fraud, theft, double discounting, or incorrect depiction for value and insurance purposes. Benefits for contractors • The value of movable assets and yello...
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