On March 17, 2010, the Fairtrade Labelling organisations International (FLO) and Alliance for Responsible Mining (ARM) associations announced the launch of the first independent gold label issued by a third party, whose mission is to promote social, environmental and economic development in communities of artisanal miners (see Objectives of the fair trade gold standards ).
This label is the fruit of the labour of the standards definition committee, launched by ARM and FLO in May 2009, and extensive public discussions with all stakeholders (mining communities, associations, refiners and jewellers).
Fairtrade & Fairmined, the joint label of the two associations, now introduces an official system to ensure that artisanal miners obtain a better price for their gold. The Fairtrade & Fairmined fair trade gold label guarantees that miners will:
Under the direction of ARM and with the help of nine producer organisations based in Bolivia, Colombia, Ecuador and Peru, the Fairtrade & Fairmined co-label is now available to artisanal mining communities in Latin America, who may request membership.
With this new gold co-label, interested companies can affix Fairtrade & Fairmined stamps to their certified gold products, such as jewellery, coins, commemorative medallions, ingots, medals, trophies and religious objects.
The sale of Fairtrade & Fairmined certified gold will be launched initially in the United Kingdom before being extended to other countries; the goal is to represent 5% of the gold jewellery market within the next 15 years, i.e. 15 tonnes of Fairtrade & Fairmined gold per year.
A recent article on the Swiss village of Medel, which voted against approving a exploration license to tap a gold deposit in the Grisons mountains estimated at 25 tonnes with a market value of some 1,3 billion dollars at current prices, led me to reflect on the real end value of mining for yellow metal and, [...]
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