Fairtrade gold set to become a systemic part of the jewellery industry offering
Five of Britain’s leading casting houses supplying semi-finished gold product to the jewellery trade are proud to now include Fairtrade gold and precious metals in their catalogues.
The landmark move means that everyone in the jewellery industry, large or small, can contribute towards bringing about transformational change to disadvantaged artisanal mining communities and reform the way the jewellery industry works for the better.
Jewellers can now buy everything from sheet, wire, casting grain, tube to chain from Cooksongold, Cred, Hockley Mint, Vipa Designs and Western Beamor who are all offering some or all of their catalogues in Fairtrade gold. Significantly all five companies also offer consumer-ready wedding collections which are available in Fairtrade metals upon request.
Each of the five suppliers are registered with Fairtrade as master licensees to supply small jewellers, making Fairtrade gold simple and trouble-free to incorporate into their ranges.
Reena Agarwal, Commercial Account Manager for Fairtrade gold said: “It’s fantastic news that all these companies are going to such great lengths to ensure availability of Fairtrade gold and precious metals. This latest move allows Fairtrade gold to become a systemic part of the jewellery offering, making Fairtrade gold and precious metals available to everybody in the industry, whether large or small. Fairtrade wants to maximise the benefits going back to small-scale miners and this is a very important step towards doing just that.”
Visit www.fairgold.org for further information.
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For more information, interviews, footage and images, please contact Martine Parry, Media and PR Manager in the Fairtrade Foundation press office on 020 7440 7695 or at martine.parry @fairtrade.org.uk
Notes to Editors
- Around the world small scale mining employs about 15 million miners. As many as 100 million people depend on it for their livelihoods.
- Fairtrade gold was first launched in 2011 in the UK closely followed by launches in Australia, Belgium, Canada, Denmark, Norway, Sweden, Netherlands, Japan, South Korea. Discussions are currently underway to introduce certified gold in the USA and Switzerland in the near future.
- The Fairtrade Minimum Price for pure gold is set at 95% of the London Bullion Market Association’s (LBMA) fix plus a Fairtrade Premium of US$2000 per kilogram of fine gold bought from the mines. Platinum: 95% LMBA + Fairtrade Premium of 15%; Silver: 95% LMBA + Fairtrade Premium of 10%. The LBMA fix is the international agreed price for gold. Artisanal and small-scale miners (ASM) producers in the mainstream get anything from 50% to 85% of the LBMA fix.
- Miners can earn a premium of 15% on top of their sale price when they recover and process gold without the use of harmful chemicals such as mercury and cyanide.
- Certified miners must use safe and responsible practices for managing toxic chemicals in gold recovery. Chemicals have to be reduced to a minimum and where possible eliminated over an agreed time period.
- Child and forced labour is prohibited under Fairtrade standards, and Fairtrade monitoring stamps it out wherever it is found.
- The FAIRTRADE Mark is a certification mark and a registered trademark of Fairtrade International. The Mark is licensed s on products which meet international Fairtrade standards. Today, more than 1.3 million people – farmers, workers and their families – across 70 developing countries benefit from the international Fairtrade system.