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Conflict Free Gold ? - Greg Valerio
A quick look at the World Gold Council’s draft standard consultation document on Conflict Free Chain of Custody for large-scale mined gold. Conflict free minerals are the talk of the town at the moment. Since the introduction of the Dodd Frank Bill in the USA; requiring all companies dealing in Tin, Tantalum, Tungsten and Gold from countries with known conflicts (or bordering with) in east Africa, notably Democratic Republic Congo (DRC), to have full traceability on their supply chain. This transparency and traceability on supply chains is now an issue of legal compliance for the USA and the EU is actively talking about introducing the same legal requirements for all member states. Let us be very candid for a moment. The above metals impact our daily lives. As jewellers we use gold for our work, we use the other metals to drive our computers, technology and machinery. In fact without the above 4 metals, the modern day jewellery trade would be dead and we would all be out of work. These economic drivers that the Western and Chinese economies have created have been a major contributor (but not the only one) in sustaining the conflicts in DRC and beyond. In …