Read more:

Fair trade gold label

On March 17, 2010, the Fairtrade Labelling Organizations 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 labor 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 jewelers). Since 2014, ARM released its Fairmined standards.

 Fairmined introduces an official system to ensure that artisanal miners obtain a better price for their gold. The Fairmined fair trade gold label guarantees that miners will:

  • get a better price for their gold, thanks to the guaranteed minimum price. For unrefined gold, this minimum guaranteed price is set at 95% of the London Bullion Market Association (LBMA) gold fixing;
  • receive a social premium equivalent to 10% of the LBMA fixing;
  • gain access to pre-sales financing provided by buyers, to ensure a minimum price for their production and reduce the number of intermediaries. This will enhance competition in local markets and help improve trade relations in the miners' favor;
  • adopt safe and responsible practices for the management of toxic chemicals. Producers of gold extracted without the use of chemicals and under strict environmental rehabilitation conditions will receive an additional eco premium equal to 5% of the LBMA fixing;
  • contribute to social harmony through greater economic stability, and through the traceability and transparency of the fair trade gold industry.

Under the direction of ARM and with the help of nine producer organizations based in Bolivia, Colombia, Ecuador and Peru, the Fairmined label is now available to artisanal mining communities globally, who may request membership.

With this new gold label, interested companies can affix Fairmined stamps to their certified gold products, such as jewelry, coins, commemorative medallions, ingots, medals, trophies and religious objects.

Patrick Schein

Last post of Patrick Schein's blog

Warning: DOMDocument::load(): Extra content at the end of the document in, line: 2 in /home/goldbygold/domains/ on line 28

Fatal error: Uncaught Error: Call to a member function getElementsByTagName() on null in /home/goldbygold/domains/ Stack trace: #0 /home/goldbygold/domains/ include() #1 {main} thrown in /home/goldbygold/domains/ on line 32