The Fairmined Initiative promotes an additional economic benefit that artisanal mining organizations receive for their Fairmined certified gold – the Fairmined Premium. It is up to $ 4.000 USD per kilogram of gold, with an additional $ 2.000 USD for Fairmined Ecological Gold. From 2014 to the first trimester of 2016, 265 kg of Fairmined Gold was sold worldwide, resulting in a milestone of $ 1.025.226 USD of Fairmined Premium paid directly to certified mining organizations.
The Fairmined Premium rewards artisanal and small-scale mining organizations (ASMO) for their responsible practices and the financial and human resources invested to achieve Fairmined Certification. Furthermore, it is the main incentive for miners to meet certification as it provides them with funds for long-term investment in social, economic and environmentally sustainable development for their business, their families, and the surrounding communities.
Watch the video and find out more about ARM’s and Fairmined’s impact in the last years.
The Fairmined Initiative has had positive and significant impacts on certified mining organizations, such as: Improvements in processing plants and physical facilities such as the purchase of machinery, property and administrative installations, implementation of environmental management plans, provision of inputs; investments in worker’s camps and health centers (rooms, sanitary facilities, water treatment well); and support of educational and cultural institutions to benefit the community.
„Two years ago we had no office for our organization, but thanks to the Fairmined Premium, we could buy one, including computer equipment. That’s how we can move forward to strengthen our organization and all those who are part of it“ says Alfredo Gonzalez, legal representative of the Cooperativa Agrominera del Municipio de Iquira.
Click here for more information about The Fairmined Premium Impact on certified mining organizations.
ARM thanks all partners and stakeholders who have supported us in generating positive impact in these mining organizations. A special acknowledgment to the Inter-American Development Bank (IDB), the Multilateral Investment Fund (MIF) and Swiss watch and jewelry manufacturer Chopard for their support, thanks to these allies we were able to make an impact on this scale. With 15-20 million artisanal gold miners around the world, ARM hopes that more actors in the gold industry will choose sourcing Fairmined certified gold to continue improving lives in mining communities around the world.
Photo: Manuela Franco