The Fairmined Gold | MYEL DESIGN

1. Gold in the mining industry

Before diving into the subject, it is important to clarify what gold is: it is a noble metal, which means it is resistant to oxidation and corrosion. This implies that it can be submerged in water, buried underground, or exposed to the open air without undergoing any alteration. It is also a malleable and ductile metal, meaning it can be deformed without breaking. Its malleability requires jewelers to mix it with other metals to transform it into jewelry, resulting in different alloys such as 10-carat, 14-carat, 18-carat gold, and so on. It can also be used to cover another metal, known as vermeil or gold-plated. To learn more about different types of alloys, you can refer to our article on the subject.

Gold possesses unique characteristics and is considered the most valuable resource available on Earth today. It is used in jewelry, medicine, and technology. Therefore, its extraction is of great interest to many stakeholders, and gold mines can be found all over the world.
Two actors disproportionately share the mining extraction of gold:

Large industrial mining companies
Artisanal small-scale miners, who are grouped under what is called Small-Scale Mining Organizations (OMAPE in French)

2. The need to take action

OMAPEs often have a bad reputation due to issues such as child labor, gender wage disparities, hazardous working conditions, and the use of toxic chemicals. This reputation is sometimes justified because in certain regions of the world, mining extraction is driven by poverty, and the means and organization associated with it do not meet the expected standards.

OMAPEs are responsible for only 10 to 15% of the global annual gold supply. However, they employ 90% of the workforce in the gold mining sector, which represents approximately 20 million miners, and indirectly impact the communities dependent on these workers. In total, more than 150 million people are currently affected by artisanal and small-scale mining activity.

It is therefore important to transform this mining activity into a positive force that improves the quality of life for artisanal miners and their communities while preserving the environment. This is one of the goals that the Alliance for Responsible Mining (ARM) aims to achieve by creating the Fairmined certification.

LEARN MORE ABOUT ARM

It is, however, a certification that is relatively long and difficult to obtain. Mines wishing to be certified must submit their application to ARM, which analyzes it and then sends it to third-party auditing firms (Naturacert, Imoswiss) that will study all aspects justifying the certification: organizational development, environmental protection, working conditions, and social development. Physical interviews, on-site observations... nothing is left to chance!

As of May 2023, only 8 mines worldwide are certified Fairmined: 4 mines in Peru (Oro Puno, CECOMIP, Chaquiminas, MACDESA), 3 in Colombia (Mina Chedé, Iquira, La Gabriela), and 1 in Ecuador (Expausa).

This certification is valid for one year, and to keep it year after year, the mine must be re-audited and show progressive improvements.All players in the supply chain are also audited, whether the mine, authorized suppliers or Fairmined licensees (such as MYEL, which buys, shapes and then resells gold in the form of jewelry to its end customers) to guarantee traceability: from the earth to the finished product.

SEE FAIRMINED GOLD ACTORS' MAP

5. Use and limits

The Fairmined certification encourages artisanal and small-scale mining organizations to become sustainable businesses with significant social impact while facilitating access to fair markets. Additionally, the transparency of the supply chain assures Fairmined jewelry consumers that they are purchasing ethically sourced and sustainable gold, and their purchase directly contributes to reinvesting in artisanal mines through the Fairmined Premium.

It is true that Fairmined gold remains a relatively rare resource, and therefore, its price is approximately 15% higher than non-certified gold. It represents only 1% of global gold production. This price difference may be a barrier for consumers, but the added value it holds for the planet and certain communities is significant.

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