Fairtrade and Fairmined gold standards
What does this mean?
Alleviating poverty faced by artisanal and small-scale gold miners and minimising environmental impacts of gold mining towards traceable gold was our long term vision launched over a decade ago. This week the Fairtrade Labelling Organisations International (FLO) and the Alliance for Responsible Mining (ARM) launches the first ever third party independent certification for gold, opening up market opportunities for millions of impoverished artisanal small-scale miners and their families.
The new Fairtrade and Fairmined gold standards will mean that interested licensees can apply for certification of gold products such as jewellery, commemorative coins, ingots, medals, trophies and religious artefacts. An industry market survey of 96 companies across 11 countries identified consumer products such as wedding rings, dress rings, necklaces, earrings and bracelets as potential products.
Globally, over 100 million people who depend directly or indirectly on artisanaland small-scale gold mining are characterised by high levels of poverty and are trapped in unfair supply chains, and struggle to get a fair price for the gold they mine. The democratic organisation of miners, combined with added premium and increased access to markets, will allow miners’ organisations to improve the technology and working conditions at their mines, and also to develop community projects in education, health, environmental restoration and other forms of income. This would lead to more enduring and sustainable development in mining communities.
Artisanal and small-scale miners produce just 15% of global gold supplies, but make up 90% of labour in gold extraction. Through Fairtrade and Fairmined certification, miners can improve their economic, social and environmental conditions.