Current Affairs

RJC, LBMA and CFS announce cross-recognition agreement

All three organisations have developed audit and certification programmes with the aim of increasing responsible practices in the gold supply chain for their respective sectors.

The Security and Exchange Commission’s recently announced rules for conflict minerals (Dodd-Frank Section 1502) stipulated that manufacturers can meet US requirements by relying on refiners who have been certified by industry groups such as the RJC, LBMA and CFS.

CEO of the RJC Michael Rae said: “The collaboration between RJC, LBMA and EICC-GeSI on our respective audit programmes aims to support the broader efforts to address conflict materials issues. All supply chain participants can benefit from our constructive approach to collaboration and harmonisation announced today.”

An RJC spokesperson added: “RJC’s recognition of the LBMA and EICC audits as fulfilling parts of Section 10 of the RJC Chain-of-Custody (CoC) Standard was included in the CoC documentation published in March 2012. We’ve been very pleased to work with LBMA and EICC in the lead up to the publication of the SEC final rule in August, and now reach agreement on harmonisation of our respective programmes. We believe the cross-recognition is of enormous benefit to refiners and provides clarity to users of gold.”

RJC members that are CoC Certified gold refiners will now be added to the EICC Conflict-Free Refiner list. Additionally, the LBMA will accept RJC CoC Certification as demonstrating conformance with its own Responsible Gold Guidance.

Further information on what the Dodd-Frank Act means for the jewellery supply chain can be viewed at the following address: http://www.giftwareretailer.co.uk/wp-content/uploads/2012/09/RJC-Fact-Sheet-Section-1502-Dodd-Frank-Act-030912.pdf

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