Page 16 - Bullion World Volume 3 Issue 11 November 2023

Bullion World | Volume 3 | Issue 11 | November 2023
Bullion World | Volume 3 | Issue 11 | November 2023

and its members, created the Swiss miners, the true pillars of this
Initiative for Better Gold in Artisanal industry. By integrating them into the The article delves into various
and Small-Scale Mining. legal and responsible circuit, it builds significant facets of gold within
a fairer and more equitable value Switzerland's context and the
Switzerland, leader in sustainable chain, which is also more respectful broader global gold industry.
gold. of the environment (reforestation First and foremost, it underscores
More than 70% of the world's gold projects, technical incentives to the historical, economic, and
is refined in Switzerland, according replace mercury with cyanide, etc.). cultural importance of gold
to UN and WWF estimates. At the in Switzerland. The nation's
heart of the historic gold hub, Swiss More specifically, for every kilo proficiency in gold refining,
players are increasingly positioning of "Swiss Better Gold" gold financial services, and
themselves as leaders in the produced, an impact bonus of CHF craftsmanship, particularly
promotion of ethical gold. Refineries 1,000 (approx. $1,120) rewards in watchmaking, bolsters its
such as MKS PAMP or Metalor are artisanal mines for their efforts and standing in the global gold
leading by example, investing in contributes to the Swiss Better Gold sector.
innovative technologies to ensure the technical assistance fund. Investors too can offer economic
legitimate provenance of gold, while
and social opportunities to
refusing to collaborate with artisanal The Swiss Positive Gold fund: a artisanal miners.
mines that do not comply with responsible investment solution.
Investors who subscribe to the fund
environmental and social standards. Building on initiatives such as Swiss can thus contribute to improving
Traceability represents a solution to Better Gold, the Geneva-based
the living and working conditions
avoid money laundering, corruption, company de Pury Pictet Turrettini of artisanal miners and protecting
and unfair and unethical behaviour launched an investment fund two
the environment. Sustainable gold
along the value chains. A country years ago with the support of MKS is a burgeoning movement that
recognized for its role in international PAMP and the Pictet Group: the
offers both economic and social
finance and in luxury, Switzerland Swiss Positive Gold fund aims to opportunities. Initiatives such as
shall take a stand in the theme provide investors with gold that has
Swiss Better Gold and the Swiss
regarding gold, striving to shorten a positive and measurable impact Positive Gold fund are helping to
value chains to favour the suppliers on artisanal mining communities
make gold a more responsible metal,
and the clients. and the environment. To do so, benefiting both local communities
it undertakes to comply with the
and the environment.
“Swiss Better Gold”, a following criteria:
sustainable gold model.
However, much more needs to be
The Swiss Better Gold initiative, • The selected gold mines meet done to ensure that the gold industry
created more than 10 years ago, strict criteria for responsible
is fully sustainable. Governments,
has allowed for more than 11,000 kg operation and follow the most businesses, and consumers all
of responsibly produced gold to be stringent ESG rules in the
have a role to play in encouraging
exported, generating in exchange industry. responsible gold production.
more than $9 million in impact • Priority is given to sourcing from
premiums for miners participating. artisanal mines validated by the By choosing sustainable gold,
This success is not just a financial Swiss Better Gold association.
consumers can send a strong
victory but represents a real social • Thanks to its alliance with MKS message to businesses and
and environmental breakthrough. PAMP, the Swiss Positive Gold
governments that they are willing to
fund benefits from a secondary
Putting traceability and responsibility premium market, with impact pay more for a product that is both
good for people and good for the
at the heart of its action, Swiss gold purchased at a higher planet. It is time to build up on the
Better Gold is paving the way price being resold at a higher
pilot case of Swiss Positive Gold fund
towards a more ethical and price: investors in the fund can in structuring a broader secondary
sustainable gold industry. The therefore sell their units and
market, allowing the global investors
initiative promotes the formalization recover the associated impact to invest freely in Swiss Better Gold
and improvement of the living and premium.
and speed up the formalization of
working conditions of artisanal
artisanal miners and small mines.

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