LBMA seeking to integrate small and artisanal miners into the legitimate gold supply chain

Independent precious metals authority LBMA has launched a major initiative to support the integration of artisanal and small-scale mining (ASM) into the legitimate global gold supply chain, through its 66 accredited refiners. The initiative takes the form of a ‘toolkit’ which addresses issues specific to the ASM sector, including legal titles, mining licences, formal regulatory oversight, and the existence of pre-refinery aggregators, as well as environmental issues. “While 20% of global gold production comes from [ASM], less than 2% moves directly into the formal good delivery supply chain,” pointed out LBMA CEO Ruth Crowell. “Much of the rest comes into the market via illicit supply-chains and unregulated recycling, practices which diminish confidence in the legitimacy and environmental integrity of the metal bought by investors and end-users.”