guide to fairtrade gold
The purchase of a wedding ring or engagement ring is the most emotive decision people make when it comes to jewellery. Historically the source of the materials has been low down on the list of issues consumers think about when making their purchasing decisions. This is changing, as young people want to know where the gold has come from and how it was produced. Most of the gold in the jewellery world has no provenance and it is impossible to find out anything about the history of the material. Fairtrade gold has changed this for good.
Fairtrade gold was set up to help small scale miners reach international markets so that they were no longer being controlled by middle men that exploited the supply chain. To achieve accreditation the mines have to be accredited by Fairtrade and comply with standards that have been arrived at after 20 years experience working with workers cooperatives all over the world.
This formalization process means the cooperatives have to prove that they are compliant to the following areas;
Upon compliance they qualify to earn $2,000 premium for every kilo of gold sold. This premium is spent on improving the social fabric of the community and is decided by a committee, all of whom are members of the working cooperative. Typically this money is spent on basic human needs like electricity, water, education and health.
When retailers sell the rings produced by a licensee there will be a Fairtrade hallmark to guarantee the provenance of the gold. This enables them to be able to tell the story of how the gold was mined and the community who mined it. In a consumer society where transparency is so important Fairtrade gold offers the retailer the ability to stock jewellery with provenance for the discerning customer. The credibility of this system is guaranteed by a third party audit, which is totally independent. There is no other audit within the jewellery industry that is so robust.
If you are looking to buy Fairtrade gold, search for your nearest master jeweller below.