RJC and London Bullion Market Association give joint industry briefing at Baselworld

Speakers representing the two bodies were director of standards development for RJC, Dr Fiona Solomon, commercial director for LBMA, Ruth Cowell.

The session addressed why conflict-sensitive sourcing has become important in the gold supply chain and the important role gold refiners play in due diligence. The LBMA Responsible Gold Guidance requires audits of LBMA-accredited gold refiners’ due diligence which will support their supply chain customers.

The RJC Chain-of-Custody Standard, launched on March 5, addresses conflict-sensitive sourcing practices for gold refiners and more broadly through the supply chain, as well as responsible business practices under the RJC Code of Practices.

Solomon said: “The RJC is delighted to launch its Chain-of-Custody Certification Standard for gold and platinum group metals this week, in order to support companies seeking to apply greater due diligence in the watch and jewellery supply chain, whether for compliance, or as part of a responsible sourcing strategy”

Crowell emphasised that the LBMA has expanded its existing accreditation process to include sourcing metals responsibly. “The LBMA Responsible Gold Guidance is now a formal requirement of Good Delivery for all gold refiners, in order to ensure that all LBMA Good Delivery Refiners’ production is free from conflict gold,” she said.