Fairtrade & Fairmined Gold - What is it?
Fairtrade and Fairmined certified Gold, the world's first independent ethical certification system for Gold, will offer you the guarantee of a product which has been responsibly mined.
It's important to know how your most treasured pair of earrings or your showpiece necklace started their journey. Important because all Fairtrade and Fairmined Gold is mined from small-scale and artisanal mines in a way that seeks to reduce dependence on harmful chemicals. Good news for mining communities in South America or Africa and good news for the people who live and mine there. Look carefully and you'll find the Fairtrade and Fairmined stamp on the inside of every piece.
How does it work?
A unique partnership, Fairtrade and Fairmined Gold certification is the result of a joint effort between Fairtrade International (FLO) and the Alliance for Responsible Mining (ARM), which combined their expertise to enable artisanal and small-scale miners (ASM) to improve their livelihoods.
Through an extensive consultation process the two organisations have developed a set of standards for responsible mining, which the miners have to fulfil in order to get certified. Achieving the certification means that the miners:
- Receive a guaranteed Fairtrade Minimum Price: This is set at 95% of the London Bullion Market Association's (LBMA's), fixing at the FOB export point
- Receive a Fairtrade premium payment, which is democratically reinvested in community projects and improving miners' operations. This is calculated as 10% of the applicable LBMA fixing
- For Ecological Gold (Gold extracted without the use of chemicals) this is calculated as 15% of the applicable LBMA fixing
- Develop long term business relations with their commercial partners
Fulfilling the Fairtrade and Fairmined standard means that certified miners:
- Have developed democratic and accountable organisations and formalised all their operations
- Are using safe working practices including the management of toxic chemicals, such as mercury and cyanide, used in the gold recovery process
- Are respectful with their environment
- Recognize the rights of women miners
Organisations will be audited by the independent, international certification body FLO-CERT to ensure they are complying with the standards.
Why do it?
With jewellery it's the thought that counts. Research reveals that people buying jewellery for a special occasion holds greater value and significance if it carries the Fairtrade and Fairmined Marks.
Consumer concerns about gold have been linked to the growing trend for fairly traded or ethically sourced products.
Reports show that a third of consumers would choose to shop at stores that were concerned about how their Gold is produced, while a quarter said they would buy Fairtrade and Fairmined gold even if it meant paying more.
The Fairtrade and Fairmined dual stamp on products gives assurance to retailers and consumers that miners in the developing world are getting a fair deal for their work.
Do Zen Gold offer this service?
As yet the supply of Fairtrade Gold is not enough to meet demand and all the supply goes towards jewellery. Zen Gold are firm believers in fair pricing policy and actively support the Fairtrade foundation in their development. As a company we have stated our interest in supplying more ethically and environmentally sourced products of both Gold and Silver when they become available. We hope to be able to bring this service to you in the near future.
If you'd like to find out more click on the link provided. Fairtrade and Fairmined Gold
If you think that this is a worthwhile cause and would be interested in this product please send us an email to express your support. We will collate all the support and notify the Fairtrade foundation.