Certification key for growth of gold markets, prices
Wed July 03 2024
This shift has led to gold regaining its status as a crucial reserve asset, resulting in increased demand. However, many African gold-producing countries may not significantly benefit from the current global gold spike and demand due to the lack of adherence to standards set by the Responsible Jewellery Council (RJC).
Oheneba Prince Kofi Poku, CEO of Blaze Metals FZ-LLC in an online interview said that African gold may not claim the best global price because of these standards issues as outlined by the RJC which is imperative that African companies dealing in precious metals take proactive action to secure member certification to meet global standards.
Inspired by its unwavering commitment to building trust, transparency, and sustainability across its operations, Blaze Metals, a precious metal company founded in Ghana with operations across Africa and headquartered in Dubai, UAE, specialising in the trading, refining, and distribution of gold and other precious metals, has taken on the mantle.
He said that this four-year certification process concluded in June 2024, with Blaze Metals becoming an official Certified Member of the RJC, joining over 1,800 companies of all sizes across the global watch and jewelry supply chain, from mining to retail.
“Joining the RJC reflects our unwavering dedication to ethical sourcing and responsible business conduct. We believe in transparency and accountability, and this certification reaffirms our commitment to our customers, partners, and stakeholders from Africa and the world,” he said.
Oheneba also affirmed that Blaze Metals sources its materials with utmost consideration for environmental and social impacts, ensuring that each piece of jewelry embodies not only exquisite craftsmanship but also ethical practices and sustainability values and further solidifies its position as a trusted provider of responsibly sourced jewelry.
Oheneba outlined key ESG initiatives that might have contributed to their RJC membership certification, such as through the Oheneba Poku Foundation, Blaze Metals’ charitable division that’s driving social change and contributing to the achievement of the United Nations Sustainable Development Goals.
Blaze Metals is implementing a land restoration project in Ghana working with the Asante Kingdom, and has been at the forefront of implementing programs in landscape restoration, community-led afforestation programs, and social inclusion in all discussions on climate action initiatives in Ghana.
This transformative programme zeroes in on the imperative of raising awareness of the perils of land degradation and urging communities to embrace sustainable land management practices.
He mentioned that other African companies should proactively seek Member Certification in the RJC, which plays a crucial role in helping gold-producing countries maximize their benefits by promoting responsible practices throughout the jewelry supply chain, enhancing market access, building capacity, and fostering transparency in the gold supply chain.
Fred Kyei Sarpong, Executive Director of the Oheneba Poku Foundation, said that this certification will support their continuous efforts to ensure environmentally friendly mining practices.
“We are committed to training miners in sustainable agriculture practices and informing them about new technologies to support the entire sustainable value chain,” he stated.
He added that all the gold they source from East Africa, especially from the Democratic Republic of Congo, is rigorously vetted to ensure it is not from conflict areas and adheres to environmental standards.
Source: https://www.newvision.co.ug/