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Non-profit organisation The Enough Project has urged jewellery retailers to “develop transparent policies about their gold sourcing practices” to prevent funds going to armed groups in the Democratic Republic of Congo.
The group has called for jewellers to commit to sourcing from only certified conflict-free gold refiners and to invest in conflict-free sourcing groups.
In its report ‘Going for Gold’, the charity said that gold remains a major “financial lifeline” for armed commanders. Some 98% of artisanally mined gold, with an estimated value of between $383 million to $409 million (£243m to £260m), is smuggled out of the country annually and finds its way to armed groups.
The Enough Project said that jewellery retailers make up around 45% of worldwide demand for gold.
The charity signalled out Tiffany & Co and Signet Jewelers for demonstrating “clear leadership in beginning to address the conflict gold issue by taking proactive steps to set up supply chain controls, contribute to solutions on the ground in Congo and support the communities affected by mining and violence.”
Holly Dranginis, author of the report, said: “Violence has been raging in eastern Congo for almost two decades, fuelled in part by the region’s lucrative natural resources. Leadership among jewellery retailers can help break the link between gold and violence in Congo.
“Tiffany and Signet have demonstrated the powerful beneficial impact jewellers can have in improving the gold supply chain. But much more is needed.”
