Fairmined achieves selling one ton of certified gold

Fairmined achieves selling one ton of certified gold

FAIRMINED ACHIEVES SELLING ONE TON OF CERTIFIED GOLD

Thanks to the hard work and dedication of the artisanal and small scale mining organizations certified with the Fairmined Standard, we have reached one ton of responsible gold.

Since the publication of the Fairmined Standard on April 5, 2014, 1 ton of certified Fairmined Gold and more than 100 kg of silver have been sold, which has generated a Fairmined Premium of more than 4 million dollars paid to certified mining organizations. This Premium is an incentive for the responsible practices implemented by the miners and implies an investment in the development for their organizations, and their workers, families and communities.

Yves Bertran, executive director of the Alliance for Responsible Mining (ARM), said that “these numbers reveal that the Fairmined Standard is an instrument that connects miners with the international market through sustainable and ethical chains that positively impact their communities.”

Thanks to the 21 ASMO that throughout history have obtained the Fairmined Certification and to more than 3000 beneficiaries and direct beneficiaries, this milestone has been achieved. “The Fairmined Standard is one of the most important solutions for our association, as it is a way to increase our revenues and improve our operations.” Fairmined Shijir Khishig Partnership certified mining organization, 2018, Mongolia. 

The lack of resources and challenges in mining territories such as unsafe working conditions means that not all mining organizations can keep up with the high progressive requirements of the Fairmined Standard. However, ARMs team has experienced that will and perseverance in the support of the miners makes responsible artisanal and small-scale mining possible.

AURELSA decided to become certified for various motives, first, because of the trust that we have in ARM due to the years of joint work. Because we feel that our knowledge of and experience with artisanal mining are valuable. Because we have been part of the elaboration of the Fairmined Standard. In addition, we decided for Fairmined for the Premium, which is this highest of the system of fair gold commerce.” María Rosa Reyes Pajuelo, member of the mining organization AURELSA, 2014, Perú.

 

The Fairmined Standard

In 2014 ARM created the Fairmined Standard to support sustainable development and the implementation of responsible practices by artisanal and small-scale mining organizations and communities (ASMO). Certified mining organizations, which produce their gold in compliance with the progressive requirements of the Standard, sell their gold at a fair price to international markets and are part of responsible supply chains. These organizations get a Premium of up to $ 4,000 per kilogram of Fairmined certified gold, that is invested in their organizations and communities. This Premium reaches the territories thanks to the people who choose to purchase products made of responsibly mined Fairmined Gold.

Thanks to the award received for the Fairmined Gold sales, the Multiactive Agromining Cooperative of the Municipality of Iquira in Colombia “has improved its mining activity by 80%”. Luis Alfredo Gonzalez, legal representative and president of the Fairmined Award Committee, said that “two years ago we did not even have an office, today, through the prize, we have been able to buy the facilities and we have equipped them”.

González added that “60& of the Premium received for our Fairmined Gold sales is invested in adjustments to the cooperative’s facilities for the improvement of our productivity. 20% is invested in culture and education for partners, workers and community. 10% is invested in health with healthy brigades for members, workers and the community and periodic occupational health monitoring for workers of the mining organization. 10% is for social support and solidarity where we provide collaborations to partners, workers and the community if needed. ”

 

The importance of 1 ton: responsible artisanal gold mining and on a small scale

Although 1 ton of gold does not seem much compared to the more than 1,053 tons produced during the first half of 2019 worldwide, according to the World Gold Council, for ASMO it is a significant amount. It is believed that ASMO produces between 20% and 30% of the world’s gold; for that reason, for ARM and the sector in general, a ton is a great achievement. Just as the impact that this ton has generated in the mining communities is great. In addition, it is the evidence that responsible ASMO is possible and that there is a market that pays an additional premium to appreciate this gold.

Equally we must recognize the human and financial effort necessary to facilitate this ton: it requires effort from the miners, support organizations, donors and buyers. Without their support, this achievement would not have happened. ASMO must formalize and improve its practices to obtain certification. And it doesn’t stop there. After obtaining the certification, we continue to support ASMO in the improvement and implementation of good practices, since the normative frameworks, the context, ASMO and the communities are constantly changing.

 

Where did the first ton of Fairmined gold go?

Buyers of Fairmined Gold are found in 27 countries worldwide, although the main markets have been european countries and North America. Today, more than 240 companies in the gold industry – mostly in the jewelry sector- participate in the Fairmined Initiative to access the GOLD TO BE PROUD OF and to offer consumers a product of responsible origin.